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Obama drops Social Security reforms

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WASHINGTON — The White House says President Barack Obama’s upcoming budget proposal will not include his past offer to accept lowered cost-of-living increases in Social Security and other benefit programs. Those had been a central component of his long-term debt-reduction strategy.

Officials said Thursday that those potential reductions in spending, included in last year’s Obama budget, had been designed to initiate negotiations with Republicans over how to reduce future deficits and the nation’s debt. But Republicans never accepted Obama’s calls for higher tax revenue to go along with the cuts.

One official said the offer would remain on the table in the event of new budget talks but that it would not be part of the president’s formal spending blueprint for fiscal 2015.

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it can't be good, or is it?

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it can't be good, or is it?

depends, are you about to retire?

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depends, are you about to retire?

yea, definatly not good.

i wont retire for another 25 years at least, that is if they don't change retirement age by than.

so i'm paying ss tax, but i may not ever see a penny of it when my time comes

Edited by aztek

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I feel like by the time im at retirement age I wont see any of my SS.

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I feel like by the time im at retirement age I wont see any of my SS.

Oh sure you will, you just are going to be surprised that at the end of the money there is so much month left.

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Oh sure you will, you just are going to be surprised that at the end of the money there is so much month left.

1. as the economy recovers, that's certain to change the projections (to be further out)

2. it's still quite a ways in the future

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2. it's still quite a ways in the future

So is my retirement dude. Your old ass don't have to worry.

Edited by F3SS

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There is no trust fund.

There's a slush fund.

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There is no trust fund.

There's a slush fund.

And by that I'm sure you mean there'll only be enough money to walk down to the store and get a slurpee.

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I definitely have mixed feelings on this topic. Politically I tend to lean toward the conservative side. Not necessarily Republican but I find myself in agreement with them more often than with the Liberals. There seems to be very little fiscal management being done lately, with both sides more interested in scoring political points with their fans than in implementing financially sound decisions for the benefit of all. But as an older guy on SSDI I also have my own budget to manage and can hardly imagine having to fall farther behind inflation than I already am. Some will say that I should have planned better but no one plans on becoming disabled and a late-life divorce and job loss erased everything I had saved on my own. So when I see articles like this I am fundamentally against anything that drives the country deeper in debt, but when I see my limited means being stretched thinner every month I look forward to the end of year stipend that lets me almost keep up. I don't know the answer but I try to vote for people that might. If we would start making things in this country again there would be more employed people paying taxes and that would make a lot of national budget decisions less painful. But the same people who can't balance a budget seem to be very handy at doing everything possible to limit using our natural resources for the betterment of the country. Real wealth comes from using what you have to make products that generate income. As a nation we have a lot but we've lost the will to use it. Maybe if our politicians would concentrate more on enabling people to work they wouldn't have to worry so much about how to enable people to live.

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There is no trust fund.

There's a slush fund.

Yeah the thing that bothers me about social security is that we pay the government social security tax and the government turns around and borrows money from the fund. (which we pay back with interest with more tax money)

Sixteen percent of the national debt is money the government has borrowed from social security and hasn't paid back yet.

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Of course he did. 2014 is going to be iffy for Democrats with the Obamacare debacle - can't add a bunch of p***ed off seniors into the mix as well.

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