Did Joe Biden Just Save Social Security?

All B.S. as Biden is doing nothing to ‘save” Social Security. There have been numerous plans that would convert, over time, Social Security into investments controlled in retirement by the working people themselves. These programs would have given the elderly tremendous increases in their wealth after retirement, instead of draining the National Budget. They never happened because the Liberals want total control over all aspects of our lives, right up to the grave.

Currently, the social security trust fund that disburses retirement, disability, and other Social Security benefits will run out by 2035. After that, the payouts will be reduced to at least 80% as they will become solely dependent on the 12.4 percent tax on most American workers’ earnings. In short, if we want to keep current benefits, the level of inflation has to come down and FICA/SECA taxes will need to go up. Oh wait, we also have a $6 trillion budget that foresees a decade of trillion-dollar deficits, which will need to be paid off. Neither Democrats or Republicans are doing us any favors by kicking the can further down the road.

you are telling us he saved it by lying to you so he can give it to illegals and bankrupt it to take it away from us

I have never talked to anyone about SS that had a clue on how it was intended to work and why failure was kind of baked-in. We’re not paying “into” anything. It’s about all pay-as-you-go much like a Ponzi scheme and about everything collected going out in a current check. No one stole anything from the fund. By law any excess is in T notes with the cash going to the general fund, just like it’s been since day one. To redeem the “what’s owed to SS” the government has to buy back the treasury notes with borrowed money on top of the borrowed money in deficit now. SS and Medicare are both growing broke with a big reason being the glut of people retiring and fewer paying in. Something major needs to be done such as raising the age (people collect longer now), increasing the contribution cut-off, reducing payments (when it was set up there was no inflation clause adding to it) or raising payroll taxes. Simple math says Joe’s fantasy of everything is fine is flat out math provable false. Doing nothing is doing harm to what everybody’s howling about.

since SS is a SEPERATE fund from any gov. funding, joe didnt “SAVE” anything. HE doesnt make laws. he just THINKS he has that power.

What Biden is saving is a fresh look at SSI will not happen. Does anyone think Bill Gates should get his max SSI? No. So up and until he’s like me trying to live off of less than $700.00 a month SSI Mr. Gates would be ineligible for it by way of “means testing.”

Basically, Biden promised not to do anything about Social Security and Medicare. We can either make some fairly modest changes today, or we can watch benefits crater in about a decade.
Cutting the deficit may sound nice, but we need to eliminate it. Between rising interest rates and the new debt we continue to pile up, servicing the debt is taking an ever bigger slice of government spending. If we don’t get it under control, it’s going to crowd out everything else, including the precious military.

Biden stood before the country and lied about them taking away social security. Blatant liar. That’s all they do and their lemmings sit their and believe them. Meanwhile Slo Joe promised no one would get a tax increase if making under 400K. Instead he hired armed IRS henchmen to extract as much money out of americans as possible. He is going to audit tips made by waiters and other tipped employees to make sure they are paying their fair share. Meanwhile again he’s sending billions to an unwinnable war.

Social Security will have insufficient funds to cover its liabilities within a dozen years. The sooner something is done about it, the less painful it will be.
I don’t see how President Biden saved anything.
It seems like a modest reduction in benefits, coupled with a modest increase in the retirement age along with a modest increase in the maximum income on which social security is paid along with a modest increase in the Social Security tax rate could cure the problem and minimize the pain.
It doesn’t seem likely that the extremist of both parties that make up our congress are capable of rational action.

If the amount taken out of everyone’s paycheck rose by 0.1 percent (I don’t have the exact figures) every year, and there was no salary cap, there probably would have been no problem with Social Security. That’s $1 per week more every year if you make $1,000 a week. It wouldn’t even be noticeable to people. I think the last time the formula was changed was in 1987. 0.1% more every year for 36 years is a lot cumulatively, but so gradual, it wouldn’t have hurt. The longer Congress waits, the tougher it will be for everyone. The only people who don’t need Social Security are the rich. Even people earning $250,000 a year will need it since most people are incapable of saving money. They live for today and can’t delay their desire for instant gratification. Poor folks feel that they deserve $1,000 cellphones, designer clothes, expensive car leases, etc. I know I’d rather pay $1 more a week while working, than lose $300-$500 a month in Social Security.

So many of you are talking about the President lying about SS, but what about that previous president who raped, lied, got illegal loans based on fake financials, stole govt records and then lied about them, caused an insurrection where people were killed, stole tax funds by not paying hardly any taxes year after year, went bankrupt many times, by the way when you go bankrupt as often as he has, that means he did not pay his bills and the list goes on … and you republicans want him to be your President? Give me a break, you should all be ashamed of yourselves by supporting such a low-life !
There is NO DIGNITY with Donald Trump. At least President Biden is trying to make things better after the mess Trump left us in.

It is simple to save Social Security all they have to do is cut off all the people coming in here that have not paid in 1 penny from foreign countries. Make them earn their living just like the rest of us. Plain and simple!

Scott should join the movement to reform the Constitution. The Congress will never do anything that returns the powers poached by the Federal Government to the States, Balanced the Budget and modifies and limits terms of the President and Congress. That would be a critical start by citizens of the States.

“Republicans want Medicare and Social Security to sunset every five years”
So after a few years it’s back to work. So republicans see retirement as a vacation, not something long term. Get those peasants back to work. Back to the old days, 7 days a week, 12 hours a day for $2 a day. They’ll get their slaves back one way or another.

Joe Biden as a Senator under President Reagan, is the one who taxed SSI income.

Between President Johnson and Biden, they have both passed legislation to Raid Social Security. So making the statement that Biden saved Social Security is FALSE. One Senator says we should look at Social Security and the country and DEMORATS start doing what they do SCARE people with Lies. I am on Social Security so what I am about to say is something has to be done to make it. The Republicans said that Social was not to be touched. But poor reporting just pushes it and does hit pieces like this it’s shameful!

Social Security, Medicare, and Medicaid are hated by conservatives because they are programs created by liberals that are very popular with a large majority of Americans. Conservatives have even come up with plans before to try and make cuts to them in hopes they collapse. Proof? Do some research on “Starve the Beast” and the “Two Santa Clause Theory”.
Then they’ve tried to turn people against it by calling it an “entitlement” and then making that out to be a bad thing. I’ve been paying into the programs for my entire life and let me tell you, “You’re damn right I’m ‘entitled’ to the money I’ve paid into the programs!”.