Social Security checks are projected to be cut by $540 a month in six years

    http://independent.co.uk/news/world/americas/us-politics/social-security-projections-checks-cut-b3055883.html

    Posted by theindependentonline

    13 Comments

    1. Well, what I want to know is how come government pensions are doing just fine, but social security is being destroyed. Time to roll over social security into government pensions so politicians stop stealing the money! They won’t steal from the pensions they rely on.

    2. Politicians are projected to have the biggest security problem in six years, fixed the title for you.

    3. glitterandnails on

      But… the billionaires are most deserving, because Ayn Rand said so! (Ayn Rand is the patron saint of many rich people.)

    4. The F they will be. They took our money for how long? And they want to give us less? On money that wasn’t even invested? Yea, you will see literally riots. Gen X especially.

    5. You know what I claim – that the Federal Reserve through its “yield curve control” damaged the returns that the trust earned, which is why there is a shortfall. What they do is manage the supply/demand of money by digitally creating (print) new money to buy government debt in what they call “large-scale asset purchases”. They call it “quantitative easing”. They do it to widen wealth inequality.
      https://www.un.org/en/desa/unconventional-monetary-policy-reaching-its-limits
      >And finally, large-scale asset purchases by central banks tend to disproportionately benefit rich households, thus exacerbating wealth inequality.

      In a way, they stole from the Social Security trust because they manipulated interest rates low by substituting printed money for borrowed monwy and gave the money (disproportionately) to the 1 percent, but also anyone who was upper K, like 401k owners.

      I got a 401K. I got two stimulus, a check, and a bump in my 401K because of that QE bump, called the Fed put. That’s because the Fed printed up $1.5 trillion out of a $1.9 trillion stimulus.

      This is a Uniparty thing. Whether it’s called QE or MMT, the idea is to fire up that printer and create those capital gains through artificially low interest rates. Well, the Social Security trust earns its income from interest bearing federal securities.

      Where the Uniparty differs is in taxing those unrealized gains. But neither party wanted that printer shut off, and now fiscal policy lack “credibility”. But these criminals damaged the Social Security trust in a scheme to enrich the one percent by essentially printing up capital gains. The one percent own 54% of the value in the stock market.

      It’s the biggest socialistic program, printing to create asset inflation. It’s socialism for the upper-K.

    6. Raise or eliminate the cap and alter the bend points to keep the first tier fully funded. If they don’t want to do this, then they better start paying people better for all the years they are working.

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