How to Prevent a Social Security Meltdown Video

How to Prevent a Social Security Meltdown

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By: BigThink

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How to Prevent a Social Security Meltdown -

Dennis Kucinich, congressman of Ohio (D), explains how social security works and how to prevent a social...

How to Prevent a Social Security Meltdown -

Dennis Kucinich, congressman of Ohio (D), explains how social security works and how to prevent a social security meltdown.

Added: 6/26/08

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How to Prevent a Social Security Meltdown bigthink dennis kucinich preventing social security meltdown shortage money social security social security missing payments

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How to Prevent a Social Security Meltdown

Social Security is rock solid through the year 2040 without any changes whatsoever. Now it's true, the Bush administration has taken massive amounts of money like IOUs out of the system but they have no legal obligation to repair, this is repaid. This isn't something that, you know, it's like an optional thing. They'll go to jail if they don't keep their responsibility. They are to put that money back in the system, keep refreshing the system so that people get paid. No one is missed a payment. I want everyone who is watching this to be aware. Social security has never missed a payment, and there's no reason for it to. Now, one of the things if Social Security starts to run short of money in real time, I am not talking about these projections because social security's condition in the future has really reached out of projections. Now if the projection show that we're starting to run short of money and the revenue begins to drop, then you raise the cap, on the money that is taxable for social security so that you can meet the demands of and requirements of the system. So if you keep going low with your projections, you raise the cap. But what no one's talking about and because I am the only one running who's talking about a full employment economy. If you prime the pump of the economy, you get people working, there's more money in, coming in, so the fund is supported.

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Social Security is rock solid through the year 2040 without any changes whatsoever. Now it's true, the Bush administration has taken massive amounts of money like IOUs out of the system but they have no legal obligation to repair, this is repaid. This isn't something that, you know, it's like an optional thing. They'll go to jail if they don't keep their responsibility. They are to put that money back in the system, keep refreshing the system so that people get paid. No one is missed a payment. I want everyone who is watching this to be aware. Social security has never missed a payment, and there's no reason for it to.

Now, one of the things if Social Security starts to run short of money in real time, I am not talking about these projections because social security's condition in the future has really reached out of projections. Now if the projection show that we're starting to run short of money and the revenue begins to drop, then you raise the cap, on the money that is taxable for social security so that you can meet the demands of and requirements of the system. So if you keep going low with your projections, you raise the cap. But what no one's talking about and because I am the only one running who's talking about a full employment economy. If you prime the pump of the economy, you get people working, there's more money in, coming in, so the fund is supported.

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