Fox News reported that social security was on a down hill spiral. Maybe they need to talk with the CBO – which is it?
Social Security outlook improves slightly: CBO
By Niv Elis – 10/27/17 01:03 PM EDT
The long-term projections for the Social Security system have brightened slightly since last year, according to a Congressional Budget Office (CBO) report released Friday.
“Compared with the long-term budget projections CBO made last year, the agency’s latest projections, published in March, indicate a slight improvement in the financial outlook for the Social Security system,” the report said,
A common measure of the system’s condition, the 75-year actuarial balance, improved from negative 1.6 percent of GDP to negative 1.5 percent of GDP, according to the report. In comparison to taxable wages, the balance improved to negative 4.5 percent from negative 4.7 percent.
The actuarial balance is the difference between what the fund has to pay out and how much it’s expected to bring in over 75 years
The report said that improvements in measures of labor force participation and the share of earnings subject to Social Security payroll taxes helped the outlook, while factors such as economic productivity, interest rates and population factors held it back.
The CBO noted that its estimates are different than those of the Social Security Trustee reports, which indicate smaller deficits. That is a result of different estimates of wages subject to the payroll tax, GDP projections, demographic estimates and interest rate assumptions, the report said.
The problem with our social security is – the democrats have spent our social security and left us nothing but IOU’S in the account. Another democrat, Obama, set up the HARP program – giving away our social security money, again. For at least 40 years, they have been giving our social security to illegals.
Now they want to reduce our social security and they wonder why the people can see the congress and senate cannot manage money and elected a business man as the leader of the country to try to straighten out the country and fire these liars and cheaters. It is time for the government to put our money back into social security which they stole.
Homeowner Bailout Saves Up To $357/mth
August 26, 2017
HARP is blessing homeowners with up to $4,264 each year. Here’s how it works.
A forgotten mortgage stimulus program that was passed by Obama to help the middle-class Americans reduce their monthly payments by as much as $4,264 each year.1
The government has announced that this program will expire in 2018 and is making a final push urging homeowners to take advantage of this program. If lowering your payments, paying off your mortgage faster, and even taking some cash out would help you, it is vital you act now.
HARP is a free government program and there is no cost & no obligation to See if you qualify »
A Stimulus Plan for American Homeowners
If your mortgage is less than $625,000, your chances of qualifying for HARP could be high. The Government wants the banks to cut your rates, which puts more money in your pocket, ultimately boosting the economy.
However, the banks are not happy about this. Here’s why:
The program makes it easier to qualify for lower mortgage rates
You have the option to shop lenders other than your current mortgage holder
You think banks like the above? Rest assured, they do not. They would rather make more money by keeping you at the higher rate you financed at years ago. The middle class seems to miss out on everything, and jumping on this benefit is a no-brainer.
Close to a million homeowners could still benefit today, but sadly, many perceive HARP to be too good to be true. Remember, HARP is a free government program and theres absolutely NO COST to See if you qualify.
There is no free lunch. The money has to come from somewhere.
Mr. President, would you please:
Set up our laws whereby all politicians are made to follow the same laws the American people are judged by.
Set up our insurance whereby all politicians and the American people have the same insurance and do not have better insurance than the people.
Set up our government and rid it of all of Obama’s former employees.