Thursday, September 20, 2018

How will the Social Security System experiencing an operating deficit around 2018 affect the national debt?

August 30, 2009 by admin  
Filed under Security System

According to current projections, the Social Security System will experience an operating deficit around 2018. Assuming the other parts of the federal budget are also in deficit, how will this affect the national debt and the debt held by the public?

The National debt is held by the Public, we’re the ones who will ultimately have to pay it with our taxes. All deficits add to the debt because they entail borrowing money against future tax revenues and have the added burden of interest on the loan. As long as the government spends more than it takes in the debt will continue to increase, and, if it ever gets so high that other countries lose their faith in our economy, as happened to the Soviets in the ’80s, then our country will collapse just as did theirs. It’s up to us today to make whatever changes in our national and personal behavior that it takes to prevent such a collapse from happening, and we aren’t doing it.

Comments

3 Responses to “How will the Social Security System experiencing an operating deficit around 2018 affect the national debt?”
  1. From Yours Trully says:

    There won’t be any money left for the Government to BORROW. If the Government would pay back all it has borrowed in the past, SS would be just fine. It would probably last for another hundred years. But get the government to pay back a debt? You’d be luckier pulling teeth out of a tigers mouth.

    When Washington started taking money from SS for it’s interest the SS program was doomed. It was just a matter of time. Of course this is something else you can blame Congress for. They allowed it to happen.

    Once the people get control of the two houses back a lot of this crap will stop happening. Use the ballot to demand accountability. If your representives don’t do the job YOU want them to do bounch them out the next election.
    References :

  2. Idiocracy says:

    It has been said for years that once the "Baby Boomer’s" retire, SS would not be able to withstand the influx of retirees, and will collapse. Government needs to cut down on wasteful spending. Social programs are not wasteful spending, it goes towards the betterment of the population. But our military spending is out of control. Israel gets $3.5 billion a year in military aid from the United States. $4.2 billion goes to Pakistan for military aid. Lets not even talk about how much we are spending a month to maintain a war in Iraq, and Afghanistan.
    References :

  3. rich k says:

    The National debt is held by the Public, we’re the ones who will ultimately have to pay it with our taxes. All deficits add to the debt because they entail borrowing money against future tax revenues and have the added burden of interest on the loan. As long as the government spends more than it takes in the debt will continue to increase, and, if it ever gets so high that other countries lose their faith in our economy, as happened to the Soviets in the ’80s, then our country will collapse just as did theirs. It’s up to us today to make whatever changes in our national and personal behavior that it takes to prevent such a collapse from happening, and we aren’t doing it.
    References :

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