Social Security

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ISSUES:

 

 

 


SOCIAL SECURITY ISSUES:

The System Needs Attention Immediately—
If Not Sooner—
But, Lawmakers Are in A "No Step" Zone!
 

Social Security will be the number one issue of the next three decades.  Medicare will be number two.  Politics will change.  It won't be Republicans vs. Democrats—It won't be conservatives vs. liberals—both parties will have to cope with the reality of young vs. old, the "haves" and "the have-nots" and the huge burdens laid upon the work force to supply the incredible amount of tax money that will be needed to support the entitlement system.  The struggle has been announced—but ignored, nervousness has set in, yet no politician wants to face the consequences of reality that are about to descend on the American people.

From the book:  (Excerpted from the 12 page chapter)

"There was supposed to be this "three-legged" stool of retirement.  It went like this.  When people get ready for retirement they should be able to count on pensions, savings and Social Security, as the three legs, to comfortably see them through their final years.  It has worked—to a fairly respectable degree.  It has worked with some variations—depending on how much a person could save and how well their pension plans delivered.  It has worked for millions of people who had nothing to count on except Social Security.  Thank goodness—and thank the taxpayers.  The solution of the three-legged stool was not a fancy answer, but has worked nonetheless, for nearly seven decades.  It will continue to work—assuming we are all ready to take a beating—now that's a fair assumption."

"The 'savings' leg of the stool has taken some pretty hard hits recently, assuming the retiree had a 'savings' leg.  The 'pension' leg has been nearly turned upside-down for many retirees—assuming they had a pension.  That leaves the third leg—Social Security—it has been there, and will continue to be there, but it too, will take a beating—no assumptions."

"We've all seen a piece of equipment, or an airplane, that has a stencil-lettered warning that says "No Step" zone.  That's where Social Security is right now.  We have the warnings all over the program, have had for over a decade, and Senators and Representatives, and the President, the people in Washington, D.C., both parties included, who need to address the warnings, are deftly avoiding them as gingerly as if they were "No Step" zones.  In fact most serious students of the issue have very grave concerns about the future of the plan, unless great changes are made, and soon—very soon.  Demographically, the numbers verify the problem.  The "No Step" zone."

"At no time in our history has the combination of federal spending and indebtedness—and known and expected (but ignored) future economic pressures—encountered such a recklessness with our nation's lawmakers, as that illustrated in 2002-2003.   It's almost as if some mystical doctor had written a prescription for disaster—delay and denial on the part of lawmakers, and delay and denial, and waiting, waiting, waiting for the hammer to fall—on each generation of Americans."   

"Even though common people, retirees, pre-retirees, housewives, executives, observers, insiders in both the executive and congressional branches, and think tank experts can clearly see the warnings and have continuously alerted lawmakers of the "runaway freight."—the people in charge do not act as if they can distinguish red from green.  The differences between public trust and political cover are going to haunt some politicians forever.  But the worst of it is—they are going to haunt the rest of us for at least the next three or four decades—unless self-reliance becomes the operative phrase—as well it should, in the face of current and coming events.  Stay tuned."


 

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