Whiile we’re on the subject of good news the early results from the Social Security Trustees’ report is telling us that Social Security is in the red (benefits paid are exceeding revenues taken in). Bruce Krasting has a good summary of the preliminary results, if you’re interested.
From a fiscal standpoint this is very bad news, indeed. Social Security paying out more than it takes in means that the revenues from FICA aren’t offsetting other expenditures any more. That means that our borrowing will continue to proceed at a faster pace than we were accustomed to even if we were to return other spending areas to their pre-recession levels. You can’t go home again.
In the spirit of redefining public goods as private goods or whatever, I’m defining deficits as fuzzy whit bunnies. Now we all love them. Deficits are good!
One might want FICA balanced so fine that it tips red in recession, and black in recovery. Of course, that assumes it tips black in recovery …
Since we are in a recovery and it is still red….
First, not a tremendous recovery.
Second, how real-time is this data?
(Yes, if this is as good as recovery gets, we are screwed in several ways.)
Oh, so not red unless its a tremendous recovery? What about “normal” and how do we decide that?
I think redefining this as a good thing is simpler.
I recently became a low middle class, when I was a lower class person, after my husband died I got more money in social secuity, I did not have social security on my own. I had SSI, I did not know that my employers were not putting anymoney into my socialsecurity fund. I did n9t check it. So when I went to get it I did not have enough money in it. So I got married to someone who had social security so I could survive. Now I find out that the Social security is in the red. A Ponci schem was pulled on us. The two Presidents who did this to us. Should have their presidental libarys torn down, and all their money removed from them, no pension for them. They robed the Seniors. And put some legis;lation that the government can not barrow from anyones trust fund ever.
They were not counting the seniors to live so long. We are, because we found out we could live longer. SEniors had their counciousness raised so they could stay healthy and not give up and have the feeling to never die, just like the teenager. I stopped being dooped by Doctors telling me I had bad condition, when I did not have them, if I had listened to them, I would be dead today.
I more christian science than christian. And today I am healthy whole and complete. It is matter of atitude. Give it back. Your note of barrowing is up and we want our money back. We do not have to burden anyone with anymore debt, except the ones who did it to all of us. Anna