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Mr. Smith attends Obama"s meeting on fiscal cliff deficit
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<blockquote data-quote="vantexan" data-source="post: 1065507" data-attributes="member: 24302"><p>We are running a trillion dollar plus deficit now, and 60 or 70 billion dollars more than we take in for SS is a big chunk of that deficit. I'm not talking about ending it, just taking measures that will keep it solvent. Frankly there should be a means test and everyone with X amount of assets should be excluded from receiving a benefit. If all we have is what is taken in in payroll taxes plus the matching funds from employers then around 75% of benefits can be paid. Congress spent the excess taken in that was supposed to be invested so they need to figure out how to keep the program solvent for those who need it. Where MFE goes wrong is saying Republicans call them entitlements as if they are a gift. Actually the government calls them entitlements as in citizens are entitled to them as long as they meet the qualifications. Entitlement spending is a big part, if not the biggest part of Federal spending. That's where the deficit spending or debt has become a huge issue. Servicing the interest on the national debt is taking more and more of the federal budget and making it more difficult to pay for entitlements, military, infrastructure and other federal programs. Someday soon hard choices have to be made and the budget has gotten so out of hand that the proposed increase in taxes on the rich will only make a tiny dent in the problem. We have to have serious cuts in spending and going over the fiscal cliff as it's called may be a good start. The Repubs want two things, the end of matching funds and/or investing the money into the stock market. Either way they benefit but I think SS is too important a program to play around with.</p></blockquote><p></p>
[QUOTE="vantexan, post: 1065507, member: 24302"] We are running a trillion dollar plus deficit now, and 60 or 70 billion dollars more than we take in for SS is a big chunk of that deficit. I'm not talking about ending it, just taking measures that will keep it solvent. Frankly there should be a means test and everyone with X amount of assets should be excluded from receiving a benefit. If all we have is what is taken in in payroll taxes plus the matching funds from employers then around 75% of benefits can be paid. Congress spent the excess taken in that was supposed to be invested so they need to figure out how to keep the program solvent for those who need it. Where MFE goes wrong is saying Republicans call them entitlements as if they are a gift. Actually the government calls them entitlements as in citizens are entitled to them as long as they meet the qualifications. Entitlement spending is a big part, if not the biggest part of Federal spending. That's where the deficit spending or debt has become a huge issue. Servicing the interest on the national debt is taking more and more of the federal budget and making it more difficult to pay for entitlements, military, infrastructure and other federal programs. Someday soon hard choices have to be made and the budget has gotten so out of hand that the proposed increase in taxes on the rich will only make a tiny dent in the problem. We have to have serious cuts in spending and going over the fiscal cliff as it's called may be a good start. The Repubs want two things, the end of matching funds and/or investing the money into the stock market. Either way they benefit but I think SS is too important a program to play around with. [/QUOTE]
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Mr. Smith attends Obama"s meeting on fiscal cliff deficit
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