trump vows to cut the source of funding for social security benefits, and medicare

Author: n8nrgmi

Posts

Total: 40
#31
ILikePie5
ILikePie5's avatar
Debates: 2
Posts: 12,500
3
7
10
ILikePie5's avatar
ILikePie5
3
7
10
-->
@Greyparrot
This is disgusting. Pelosi is holding up the bill just so she can get a trillion dollars for New york and California.
Yup, even the stuff they agree on like preventing evictions, all in a separate bill, was blocked by Schumer and Pelosi.
#32
Greyparrot
Greyparrot's avatar
Debates: 4
Posts: 22,927
3
4
10
Greyparrot's avatar
Greyparrot
3
4
10
-->
@ILikePie5
Never let a good scamdemic go to waste...
#33
Dr.Franklin
Dr.Franklin's avatar
Debates: 32
Posts: 10,568
4
7
11
Dr.Franklin's avatar
Dr.Franklin
4
7
11
chris got it right
Topic's author
#34
n8nrgmi
n8nrgmi's avatar
Debates: 0
Posts: 1,499
3
2
3
n8nrgmi's avatar
n8nrgmi
3
2
3
i recant my position. as fauxlaw pointed out, general funds are going to replace the payroll tax revenue loss. still not sure trump has the authority to do it, though. 
Topic's author
#35
n8nrgmi
n8nrgmi's avatar
Debates: 0
Posts: 1,499
3
2
3
n8nrgmi's avatar
n8nrgmi
3
2
3
-->
@ILikePie5
you are still factually incorrect. you must not be able to read the link i provided. just google it. it is common knowledge that social security will be cut twenty five percent ish around the year 2035. it doesn't matter that it's considered mandatory funding. there's no way to fund it, legally. 
#36
ILikePie5
ILikePie5's avatar
Debates: 2
Posts: 12,500
3
7
10
ILikePie5's avatar
ILikePie5
3
7
10
-->
@n8nrgmi
you are still factually incorrect. you must not be able to read the link i provided. just google it. it is common knowledge that social security will be cut twenty five percent ish around the year 2035. it doesn't matter that it's considered mandatory funding. there's no way to fund it, legally. 
No, the trust fund for Social Security will run out at that point. Americans will still get benefits because Congress will be forced to “find” money for the program under the Social Security. General Revenue can be used and is being used right now but in small amounts. The govt will be forced to use that because there is conflict in legislation.
Topic's author
#37
n8nrgmi
n8nrgmi's avatar
Debates: 0
Posts: 1,499
3
2
3
n8nrgmi's avatar
n8nrgmi
3
2
3
-->
@ILikePie5
can you find any reputable sources that state the government will be forced to find revenue to compensate for the shortfall? i showed you one source, but my stance is stated everywhere that i see. i agree there is conflicting legislation, but the outcome is always stated in the way i describe
#38
Death23
Death23's avatar
Debates: 24
Posts: 618
3
4
7
Death23's avatar
Death23
3
4
7
-->
@n8nrgmi
The trust fund is just an accounting trick. At the end of the day it's all money in money out of the US treasury.
#39
ILikePie5
ILikePie5's avatar
Debates: 2
Posts: 12,500
3
7
10
ILikePie5's avatar
ILikePie5
3
7
10
-->
@n8nrgmi
can you find any reputable sources that state the government will be forced to find revenue to compensate for the shortfall? i showed you one source, but my stance is stated everywhere that i see. i agree there is conflicting legislation, but the outcome is always stated in the way i describe
I’m not disputing your outcome. Barring any other events what you say will happen but the other events will happen. The conflicting law is you can’t spend the money you don’t have right? The trust fund will run out of money by 2035 and it will be cut by 25%. But the law also states that we are entitled to our full benefit. Those two laws go against each other but as you know our government is founded upon loopholes. A loophole the government uses is using the general fund for a small portion of Social Security. Where the money for the general fund come from? Borrowing and income tax. You have to consider a holistic approach.

What Death23 just sums up what I’m saying.
#40
ILikePie5
ILikePie5's avatar
Debates: 2
Posts: 12,500
3
7
10
ILikePie5's avatar
ILikePie5
3
7
10
-->
@n8nrgmi
The Social Security Act states that the government must pay the full benefits. It’s required by law until changed, so the govt is forced to go through the options I mentioned or do total social security reform via other legislation. Until the reform is done the govt will be required by law to fully pay the benefits even if it means transferring general funds to the trust fund.