CBO says Social Security payments reduced by 2032

10,202 Views | 166 Replies | Last: 3 days ago by jamey
aggie93
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MemphisAg1 said:

Ulysses90 said:

Tex100 said:

A lot of Boomers will be off the books by 2032


At a death rate that is presently 3500-4000 per day and accelerating, the population of the Boomer generation will decrease from 67 million today to between 57-59 million Boomers ranging in age from 62 to 86.


And then at some point GenX will be the hated old folks that the youngsters want to impale with pitch forks. Eventually the millennials will get their turn too.

lol.

They already mix us up with Boomers even though we have been fighting with Boomers our entire lives.
"The most terrifying words in the English language are: I'm from the government and I'm here to help."

Ronald Reagan
BonfireNerd04
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MemphisAg1 said:

Ulysses90 said:

Tex100 said:

A lot of Boomers will be off the books by 2032


At a death rate that is presently 3500-4000 per day and accelerating, the population of the Boomer generation will decrease from 67 million today to between 57-59 million Boomers ranging in age from 62 to 86.


And then at some point GenX will be the hated old folks that the youngsters want to impale with pitch forks. Eventually the millennials will get their turn too.

lol.

Nobody hates Gen X, because nobody remembers that they exist.
sleepybeagle
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shiftyandquick said:

SS will run out just as all the Baby Boomers die, officially cementing them as the worst generation in recorded history.

Yes - and 40 trillion dept handed to the next generations
sleepybeagle
Logos Stick
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sleepybeagle said:

shiftyandquick said:

SS will run out just as all the Baby Boomers die, officially cementing them as the worst generation in recorded history.

Yes - and 40 trillion dept handed to the next generations


You'll also get all the wealth that belonged to the Boomers. Nobody takes anything to their grave.
Biz Ag
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shiftyandquick said:

SS will run out just as all the Baby Boomers die, officially cementing them as the worst generation in recorded history.


Are you talking about Baby Boomers like Bill & Hillary Clinton, Al Gore, Barack Obama or someone else?
ttu_85
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aggie93 said:

MemphisAg1 said:

Ulysses90 said:

Tex100 said:

A lot of Boomers will be off the books by 2032


At a death rate that is presently 3500-4000 per day and accelerating, the population of the Boomer generation will decrease from 67 million today to between 57-59 million Boomers ranging in age from 62 to 86.


And then at some point GenX will be the hated old folks that the youngsters want to impale with pitch forks. Eventually the millennials will get their turn too.

lol.

They already mix us up with Boomers even though we have been fighting with Boomers our entire lives.

I'm a boomer, And you have been fighting me your entire life? Wow, and I thought based on your posting history we were staunch allies.

So my age determines whether I'm an enemy or not? Interesting, I though it was the heart and beliefs that mattered.

YouBet
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BonfireNerd04 said:

MemphisAg1 said:

Ulysses90 said:

Tex100 said:

A lot of Boomers will be off the books by 2032


At a death rate that is presently 3500-4000 per day and accelerating, the population of the Boomer generation will decrease from 67 million today to between 57-59 million Boomers ranging in age from 62 to 86.


And then at some point GenX will be the hated old folks that the youngsters want to impale with pitch forks. Eventually the millennials will get their turn too.

lol.

Nobody hates Gen X, because nobody remembers that they exist.


Part of our strategy. No one expects Gen X.
aggie93
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ttu_85 said:

aggie93 said:

MemphisAg1 said:

Ulysses90 said:

Tex100 said:

A lot of Boomers will be off the books by 2032


At a death rate that is presently 3500-4000 per day and accelerating, the population of the Boomer generation will decrease from 67 million today to between 57-59 million Boomers ranging in age from 62 to 86.


And then at some point GenX will be the hated old folks that the youngsters want to impale with pitch forks. Eventually the millennials will get their turn too.

lol.

They already mix us up with Boomers even though we have been fighting with Boomers our entire lives.

I'm a boomer, And you have been fighting me your entire life? Wow, and I thought based on your posting history we were staunch Allies,

So my age determines whether I'm an enemy or not? Interesting, I though it was the heart and beliefs that mattered.



Of course it is figurative but Gen X was blocked by the Boomers our entire lives, that's why we were Gen X or the forgotten generation. We were severely outnumbered and overshadowed. If you are Class of '85 you are also just barely a Boomer. That said a lot of opportunities weren't there for Gen X that were there for Boomers. It was really tough to get an entry level job with so many Boomers that had experience ahead of us, companies cut back on hiring new college grads significantly. Boomers tended to hold on to senior positions as well and were tended not to mentor. Every election I have had to choose between Boomers outside of my first when I voted for GHWB. Boomers pushed the political correctness and DEI agendas that crushed a lot of Gen Xers and they pushed out Gen X conservatives in many fields and only allowed the liberals to survive in places like academics and they forced out a ton of guys in the military for instance. Plenty of great Boomers as well that don't fit any of those characteristics.

It is what it is. Don't want anyone to feel sorry for us and never have. Lots of great things about when we grew up as well, being a kid in the '80s was generally pretty great, we were the crossroads before the internet and cell phones changed everything. I've been very blessed in life because I made my own choices and found opportunities to take advantage of.
"The most terrifying words in the English language are: I'm from the government and I'm here to help."

Ronald Reagan
MemphisAg1
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aggie93 said:

Gen X is already getting our age raised to 67 just as we are retiring but basically all the Boomers got to retire at 65. Reminds me of how they raised the drinking age from 18 to 21 and grandfathered in the Boomers so they got to enjoy college without having to deal with the nuisance of that law.

Not even close.

Those born in 1937 were the last ones to earn full SS retirement at 65. There are 8 years of the Silent Generation and ALL of the Boomers who don't get full SS retirement at 65. Tail-end boomers like me get it at 67 just like you.

You're a bit closer on the drinking age, although tail-end boomers felt a bit of that too. They raised the age to 19 right before I turned 18. I did make it from there to 21 before they raised the age to 21.

These one-size-fits-all complaints about the boomers -- or any other generation -- often miss the mark.
aggie93
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MemphisAg1 said:

aggie93 said:

Gen X is already getting our age raised to 67 just as we are retiring but basically all the Boomers got to retire at 65. Reminds me of how they raised the drinking age from 18 to 21 and grandfathered in the Boomers so they got to enjoy college without having to deal with the nuisance of that law.

Not even close.

Those born in 1937 were the last ones to earn full SS retirement at 65. There are 8 years of the Silent Generation and ALL of the Boomers who don't get full SS retirement at 65. Tail-end boomers like me get it at 67 just like you.

You're a bit closer on the drinking age, although tail-end boomers felt a bit of that too. They raised the age to 19 right before I turned 18. I did make it from there to 21 before they raised the age to 21.

These one-size-fits-all complaints about the boomers -- or any other generation -- often miss the mark.

The retirement age change change is for anyone born in 1960 and beyond, that's mostly Gen X. It was gradually moving that way but all of Gen X got the increased age and it won't surprise me if they increase it again before I hit it in 13 years.

The drinking age hit for those born after 1961 I believe.

As I said there are exceptions to every rule and Boomers had their struggles as well, a lot of them got drafted and got to go to Vietnam for instance. Every generation has advantages and disadvantages in the end.
"The most terrifying words in the English language are: I'm from the government and I'm here to help."

Ronald Reagan
MemphisAg1
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aggie93 said:

MemphisAg1 said:

aggie93 said:

Gen X is already getting our age raised to 67 just as we are retiring but basically all the Boomers got to retire at 65. Reminds me of how they raised the drinking age from 18 to 21 and grandfathered in the Boomers so they got to enjoy college without having to deal with the nuisance of that law.

Not even close.

Those born in 1937 were the last ones to earn full SS retirement at 65. There are 8 years of the Silent Generation and ALL of the Boomers who don't get full SS retirement at 65. Tail-end boomers like me get it at 67 just like you.

You're a bit closer on the drinking age, although tail-end boomers felt a bit of that too. They raised the age to 19 right before I turned 18. I did make it from there to 21 before they raised the age to 21.

These one-size-fits-all complaints about the boomers -- or any other generation -- often miss the mark.

The retirement age change change is for anyone born in 1960 and beyond, that's mostly Gen X. It was gradually moving that way but all of Gen X got the increased age and it won't surprise me if they increase it again before I hit it in 13 years.

The drinking age hit for those born after 1961 I believe.

As I said there are exceptions to every rule and Boomers had their struggles as well, a lot of them got drafted and got to go to Vietnam for instance. Every generation has advantages and disadvantages in the end.

Not to pick here, but the retirement change was for anyone born 1938 and later. Those between 1938 and 1959 had their retirement age gradually adjusted from 65 to 67. Those born in 1938 were very close to 65... maybe 65 and 1 month. Those in 1959 were very close to 67... maybe 66 and 11 months. Everybody born 1960 and later earns full SS at 67.

They will have to make changes to SS by the early 2030's to sustain it. I don't believe they'll kill it. I hope whatever changes they make are gradual like the example above and give everybody time to see it coming and plan for it.
jamey
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YouBet said:

NE PA Ag said:

shiftyandquick said:

SS will run out just as all the Baby Boomers die, officially cementing them as the worst generation in recorded history.


You've got a long way to go before 'all the Baby Boomers die', so you're basically discounting the CBO report and believe SS will be fine for at least the next 30 years.


Taking these cuts at face value benefit payments will be effectively 0 by 2042 and SS is dead.

I'm going to assume we aren't getting the whole story because a planned 28% annual benefit cut should be at the top of the news. Those are massive cuts.


Most Rs and Ds have been too caught up in titlating political news for decades to be bothered with anything serious like financial responsibility. So boring
MemphisAg1
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jamey said:

Most Rs and Ds have been too caught up in titlating political news for decades to be bothered with anything serious like financial responsibility. So boring

So much truth. That's the frustrating thing about the two-party political system. They're always angling for leverage on expanding their voting block instead of sitting down, making reasonable compromises where there's an obvious deal, and solving problems for us.
Yukon Cornelius
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Well said
jamey
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MemphisAg1 said:

jamey said:

Most Rs and Ds have been too caught up in titlating political news for decades to be bothered with anything serious like financial responsibility. So boring

So much truth. That's the frustrating thing about the two-party political system. They're always angling for leverage on expanding their voting block instead of sitting down, making reasonable compromises where there's an obvious deal, and solving problems for us.


I was done with the 2 party system some time ago but Trump and Elon convinced me to trust the R party one last time. Unfortunately thats what it appears to be, my last time


If nothing else, and assuming I live long enough I'll at least be able to tell my kid / grandkids that I did not vote FOR the financial catastrophe they're going to inherit by not voting R or D ever again. I think it leads to the same outcome either way

On the bright side, nobody will talk about tititlating political blah blah when the financial crap hits the fan. Politics will be serious again
one safe place
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jamey said:


If nothing else, and assuming I live long enough I'll at least be able to tell my kid / grandkids that I did not vote FOR the financial catastrophe they're going to inherit by not voting R or D ever again. I think it leads to the same outcome either way



It has been and will continue to be the lesser of two evils and either an R or a D will win. While they both suck, one is clearly worse than the other and the outcome under them will be worse.
jamey
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Its the lesser of evils stuff that will push us over the cliff. The destruction at canyon bottom will be indistinguishable other than 2 parties ignored reality for decades


I see the R and Ds like Thelma and Louise driving off that cliff, except theyve got everyone's kids in the backseat


mjschiller
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AG
Results of low births.
3rd Coast
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shiftyandquick said:

SS will run out just as all the Baby Boomers die, officially cementing them as the worst generation in recorded history.


This **** is so overplayed and ignorant, and I'm not even a boomer.
one safe place
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jamey said:

Its the lesser of evils stuff that will push us over the cliff. The destruction at canyon bottom will be indistinguishable other than 2 parties ignored reality for decades


I see the R and Ds like Thelma and Louise driving off that cliff, except theyve got everyone's kids in the backseat




Not really. One side will make things worse sooner than the other, and cause productive people a lot more headaches and problems along the way. You and those like you can choose neither I suppose, but run the risk of the lesser of two evils not getting in office and wind up with the greater of two evils instead.
Z3phyr
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No politician has the balls to raise the retirement age
Oyster DuPree
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Z3phyr said:

No politician has the balls to raise the retirement age

It needs to be done right now. Let the Boomers have their bottle, cut social security completely and immediately and tell Gen X, millennials, Gen Z and everyone else that they need to pay for it. It'll be tough, but those generations are much more resilient than the soft and ******ed boomers.
one safe place
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Z3phyr said:

No politician has the balls to raise the retirement age

The retirement age has been raised in the past and likely will be again. Also, they have increased the wage limit. What no politician has the balls to do is to cut benefit amounts, that will never happen.
one safe place
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Oyster DuPree said:

Z3phyr said:

No politician has the balls to raise the retirement age

It needs to be done right now. Let the Boomers have their bottle, cut social security completely and immediately and tell Gen X, millennials, Gen Z and everyone else that they need to pay for it. It'll be tough, but those generations are much more resilient than the soft and ******ed boomers.

Have to see how many of them get by without assistance from their boomer parents as far as resiliency goes.
doubledog
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shiftyandquick said:

SS will run out just as all the Baby Boomers die, officially cementing them as the worst generation in recorded history.

I am sorry we gave you the technology to complain about Baby Boomers on-line.
Oyster DuPree
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one safe place said:

Oyster DuPree said:

Z3phyr said:

No politician has the balls to raise the retirement age

It needs to be done right now. Let the Boomers have their bottle, cut social security completely and immediately and tell Gen X, millennials, Gen Z and everyone else that they need to pay for it. It'll be tough, but those generations are much more resilient than the soft and ******ed boomers.

Have to see how many of them get by without assistance from their boomer parents as far as resiliency goes.

Source?
jamey
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I dont think its the GenX generation living off their parents well beyond the point of awkwardness
 
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