To those who believe the Democrats control Congress, I simply say: Look at the vote-down on President Obama's proposed $250 check for America's seniors. All the Republicans and 11 Democrats, mostly the Blue Dogs, left the seniors holding the proverbial bag.
I didn't bother to look up the voting records on their own pay raises, but would bet my next Social Security check that it didn't go the same way.
Until the Republicans in Democrats' clothing are out, not much is going to happen for the less privileged in this country. And to the glee of the Republicans, Obama and the so-called Democratically controlled Congress will continue to catch the heat.
James Connell
Augusta
Mr Connell, I'm sorry about your severe suffering caused by the Democrat controlled congress. I guess even when they have control, all things that go wrong are the result of the Repubs... from your perspective. Well, someone has to take responsibility for everything that happens. Thank you for choosing a side. Let's hope the Repubs still have enough pull to stop the horrible Obamacare ... along with the Blue Dogs and other people in congress that care about this country.
And speaking of entitlement programs ... what about that Social Security?
I wonder how many posting here draw some money from the Social Security System. How many don't ... yet ... but fully intend to get their share when the time comes? Having paid into it my whole life I certainly do.
Like it or not, Social Security has become such a part of our culture that it is a part of every financial planning effort, especially those geared toward retirement. Social Security is now a fact.
So, I just read a snippet about the state of Social Security. It seems that it is about to start running out of money. With the recession in fulll swing and all of those "deadbeats" who lost their jobs not paying into the system (how dare they?), the SSA will actually pay out more that it will take in this year thus creating a rather hefty deficit.
Surely President Obama is to blame for this, too. No? Well that dirty Democrat-controlled Congress is then. No? Then who?
The answer is that every administration pretty much since Social Security became institutionalized is to blame. Each has raided the Social Security funds to pay for stuff rather than borrow the moeny from foreign creditors. It is in such a state that the yearly deficits will continue until ... well ... forever (except for 2 years). unless the money "borrowed" from Social Security by our own government is paid back, there will surely be an eventual reduction in benefits. I am sure there will be talk of abolishing those benefits. Those will be the shortest political careers for a while.
So what should we do? Should we tell the "deadbeats" on Social Security to get a job and support themselves? Somehow I don't think many of can go tell out parents to do that.
Before the finger gets pointed and blame assigned, look at what that money has been used for. Certainly some of it went into pet entitlement programs that get bashed in here a lot. Some of it went to pet projects of every Senator and Representative, even Republicans. Some of it went to pay for wars and "police actions" that we have engaged in over time.
You can rant on about 10 yrs for 6 yrs if you want to, the problem is bigger than that and will come to rest in your wallet sooner than later. This problem has been known about for a while now but this isn't a "sky is falling" warning, it's going to happen this next year.
If you think the Obama administration is doing things to the national debt and deficit, wait until this one hits. And you can't blame the current admnistration for this problem: everyone who has served in Congress is to blame. The time to do something about this problem is NOW.
Which of your favorite spending vehicles will you dismantle to free up funds for this? Two wars? Medicare? Defense budget? Educational subsidies to the States?
Many love to talk about how Reagan "won the cold war." He didn't actually win it, he was just in office when the wall came crashing down. I'm not lessening his role in the process, but the Cold War was "won" by all of those who served for decades in the military and government. The reason the Soviet Bloc system failed was that they couldn't afford to keep on doing things like the arms race and empire building that they couldn't afford. Take a lesson from that because we are about to go the same route.
We have serious problems to be addressed in this country. The more you rant on about this party or that party, or even about bipartisanship, the more you contribute to the problems. Set aside the political agendas. It's time to start working to fix things. This is way bigger than a health care bill.
Orygpsych-I have PAID into social security for 40 years and have not collected a dime! I HAVE PAIDED INTO SOCIAL SECURITY..and don't expect to see much from that! WHY? BECAUSE UNDER President Johnson a DEMOCRATE and DEMOCRATIC CONGESS voted to put the SOCIAL SECURITY FUNDS INTO THE GENERAL FUND and spent the excesss SOCIAL SECURITY SO SOCIAL SECURITY IS BROKE BECAUSE OF DEMOCRATES SPENDING THE MONEY THAT SHOULD HAVE BEEN SET ASIDE TO MANAGE SOCIAL SECURITY!!!!!!!! The democrates larded the program with all kinds of gimicks it was never intended to support, survivor benefits etc. I have paid the max into the system and gotten NOTHING OUT and the dollar will be worth squat when or if I get anything out with the inflation that is about to hit us. Now the Democrates are floating thee idea of taking over 401 K and retirement funds and managing them like social security fund ie turning it into a big PONZI scheme so please quite talking about social security if you don't know what youo are talking about..PS MY BROTHER PAIDED INTO SOCIAL SECURITY HIS WHOLE LIFE AND NEVER COLLECTED A DIME !!!!
Orgpsych, I'm sure you don't recall when Bush tried to save social security and the Dems blocked every effort. Well, the end of money that was predicted is now here. So you think it's Obama's fault? Well, I don't think he's the only one to blame, though his economic policies are certainly contributing to the demise. I think the decades of including the ssi money in the redistribution of wealth program instead of investing it for the people that paid into it may have contributed to the problem, too. Of course, none of this is the subject of the LTE.
Suppose Bush's initiative had gotten traction before his time ran out. Now imagine you were among the first recipients opting for stocks instead. By the time his term ended, you would have enjoyed two further options: (1) total wipeout or (2) 0.13 percent avg. interest.
Thank God and Greyhound!
SOCIAL SECURITY IN AMERICA
- 1918 A system named "Soundex" is patented. It allows for the reduction of all surnames to four
characters. First letter of name and three numbers.
- 1921 All but 6100 individual census records for 1890 are destroyed by a fire in the Commerce Building
in Washington DC
- 1930 Congress approves the "analysis and documentation" of the 1890 through 1920 U.S. Censuses with
"Soundex Coding"
- Mid 1930's President Roosevelt attempts to have the Constitution changed to allow for
15 Justices of the Supreme Court, thereby allowing him to appoint six Justices.
Some of his programs were ruled unconstitutional by the sitting nine justices.
- President Roosevelt signs the Social Security Act of 1935 on August 14, 1935 as part of
his New Deal
- 1937 Payroll Taxes for SS begin ( FICA)
- 1937 53,236 S.S. Lump Sum Death Benefits are paid (prior to 1951 that equaled your contributions)
- 1937 and 1938 2 billion dollars collected for "Trust Fund"
- 1939 U.S. is in a recession blamed on FDR's policies
- 1939 Collection of tax moved from Social Security Administration to the Internal Revenue Service
- 1939 An amendment changed from a "reserve trust" to a "pay as you go" system.
- January 31, 1940, Ida May Fuller received the first monthly SS benefit payment in Vermont. Ida May
Fuller had paid SS taxes for 1937, 1938 and 1939 totaling $24.75. He first monthly benefit was
$22.54. With the February benefit check she had surpassed her entire contributions. She lived to
be 100 years old and collected $22,888.92.
- 1960's Disability Benefits for Veterans Administration is moved to the Social Security Administration
- 1965 President Lyndon Johnson signs Medicare Act. Social Security Benefits began to draw down
"Trust Fund"
- 1970's to present Social Security has been on the brink of insolvency
- 1972 SSI or Supplemental Security Income in added to Social Security Benefits to include immigrants,
Non-citizens and other in the United States who have never paid into the SS system.
- 1972 Cost of Living Allowance {COLA } is added to benefit payments
- 1983 President Reagan signs a bill to "tax SS benefits"
- 2004 Benefits paid exceed $500 billion
- 2009 SS is the largest "government program" in the world in dollars spent
- 2009 SS is the largest single US expenditure @ 20.8% (defense @ 20.5%; Medicare @ 20.1%)
- 2009 SS comprises 37% of "government spending"
- 2009 SS spending is equal to 7% of G.D.P
- 2009 85 million death are recorded at Social Security Death Index
Questions:
- Is socialism pending in America or have we been there a long time?
- Why is the Social Security Death Record missing for only one president, John F. Kennedy?
- Why are there SS Death Records for individuals who died prior to 1937?
- Ruth M. Riggs was issued an SS number in Illinois. She was born and died on October 2, 1899 in Las
Vegas, NV. She was the first to have a number. Why a number 38 years after death.
- Death records for 1900 were 88. Every year since 1899 have entries?
- At one time SS number's included "code" that contained date of birth, state of birth, mother's date of
birth, mother's state of birth. This was available to businesses and provided a means of verifying
an individual's records. Does this still exist? The SS office will neither confirm or deny?
Having some socialist programs and being a totally socialized nation are two very different things.
dashiel, your 7:17 is a perfect example of why I hate government education and what it has done to our society.
cliff, it would be interesting to hear the logic behind the statement made by that poster.
Social Security is a form of socialism like public education and universal health care. Privatizing social security is the best option right now, but who's going to advocate it? Certainly not a democrat.
Dashil you are wrong. For the person who is able to invest over the long haul and leave their investment alone it will most likely be valued at more than you would get out of social security. The trouble is that most will not be able to leave the money alone or even save. New cars, beer, cigs, new up to date clothes, shoes and the like get in the way of sound financial judgement. To provide for your retirement you have to be unwavering in the goals you set and what is wrong with that-NOTHING.
The vast majority of people who are drawing Social Security paid into it all of their lives because the government made them. Same thing for Medicare. They deserve to be drawing. The difference with the new Obamacare and many of our other "progressive" socialist welfare programs is that the people who will get the new entitlement will never pay a dime into the system. It will be taken from the working middle class and the seniors who have already paid into Medicare and will now have their benefits and access to doctors, procedures, and drugs cut drastically over the next 20 years.
Org, your post makes a great argument for not allowing the current proposals on health care to be crammed down our throats. We have too many unfunded current and future promises to add another one right now.
The ONLY real blame has to be on POLITICS....both parties....greedy polititians who pad their pockets while living out of the taxpayers pocket...vote ALL incumbants O U T !!!!
We need a congress for the people ..we don't have it now..When we realize we can't solve the WORLD'S problems & stop taking on evertything, we might be able to get our house in order..Cut off 50% welfare.. only give s sec & medicare-medicaid to folks in this country NOT others...After 3 months STOP unemployment checks...f you need the work, get rid of some of the illegals & do it yourself.. Our taxes keep going up & we are sick of FREELOADERS. BTW get our JOBS back allof you great minds in congress..We need to turn congress inside out this year..Some folks pay into ssec all of their lives & never see a dime. My sister-inlaw died before the age of 62 & also his brother.
Maybe because it is March Madness time, but I really do not care for politics anymore. You can put religion too in the who gives a bleep philosophy. Our political system is dysfunctional and about defunct. When you can't give old folks on Social Security a $250 bonus, then it's time to pack it in, and focus on your Bracket Picks. The way things are going in these United States, this might be the last year to pick the Final 4 teams anyway.
A couple of points:
My rather lengthy post (sorry about that) was not dead on with the LTE but it is certainly directly relevant. The point is that we have such a huge debt that is hidden resulting from something other than the HCB, which hasn't even been passed yet. So many rail against this piece of legislation as a specific attack on this president and his party. For example, see Carcraft @ 5:47. Dems didn't put us here, BOTH parties put us here and over several administrations. Oppose the HCB if you wish, dislike Democrats if you wish, but don't lose sight of the much bigger, systemic problem.
Second, when Bush suggested that SS become an investment scheme all I could think about was PONZI. The stock market has been struggling for a long time. The current recession, just like the others over the past few decades, have wiped out huge stashes of retirement income that was invested in stock. That translated to me as a way for his rich buds to get their hands on more of OUR money and then squander it. If you don't understand what I mean, I refer you to all of the stories following the bailout when executives gave themselves big bonuses for not failing any worse than they did. Now THAT makes me mad.
We have a multigenerational workforce with pre-WWII people having to work because their retirement money is no longer sufficient; aging Boomers putting off retirement because their retirement money is so much less than it was a short time ago (thank you stock market); Gen X trying to break through the "gray barrier" to live their lives and make their mark; and the Gen Y bunch who doesn't understand why it isn't like it is on TV (whew!). We may not have personally made this mess for ourselves, but we have let others do it for us. That happened because we either were silent or because we were distracted by "flash" issues.
Yes, KSL, that is exactly what my post suggests, just not on the narrow scale most here choose to see.
Carcraft, shouting long phrases just makes you post harder to read.
org. have you ever read Bush's proposal to reform SS. How is it a "ponsi" skeem? Currently SS is the poster child of ponsi. And the gig is up as you noted in your earlier post. It is unsustainable.
Org, over the long period, a lifetime of saving for retirement, the stock market has proven to be quite reliable, the key being diversification and changing the balance of investments as you age. I know that I and my husband would be quite happy to have been able to invest the SS with holdings into the stock market since we began working. I especially since when he starts drawing SS, I will draw on his not my earnings. It will have been a major rip off for me.
Sorry Mr. Connell, but due to unprecedented massive overspending on unfunded give-away programs, like the one you are complaining about, the US is broke. No Money! Nada! Zip! Squat! Not only that, but the out of control spending continues unabated even now, and unless it is stopped abruptly, we will be a bankrupt nation in very short order. Then all hell will break loose, because we have created an entire generation of people who depend on the government for everything in their life. When that money stops, there will be civil unrest that will shake the very foundations of our country. So, sorry you didn't get your freebie check Mr. Connell. Guess you will have to do without, like so many millions of Americans that are out of work, while Mr. Hussein continues to try to plunge our nation further into debt. Hey, maybe his Health Care boondoggle will pass, and then your taxes will go way up, and your medicare will be cut drastically. No worries though because somewhere down the line...say in 3 or 4 years, you might be able to sit in a waiting line at your doctor's office for hours, waiting for that free medical care that you are then going to be paying around $1500 per year for....that is of course, if your doctor is still practicing medicine for about half of what he is making today. Sorry sir, that only the Republicans are currently standing for being fiscally responsible, and as a result, you lost your freebie handout. Stuff happens. Oh, btw, before people start blasting me, I am a senior too. lol.
Great.....another greedy senior at the feeding trough of government ponzi schemes bytching about not getting a "bonus." How absurd and out of touch can people be?
"Until the Republicans in Democrats' clothing are out, not much is going to happen for the less privileged in this country." ---- Who are the less privileged? They are mostly those who didn't take advantage of the exact same opportunities afforded to all Americans. Just because some shunned education, had children they couldn't afford, or took no initiative to acquire valuable job skills doesn't mean that it is the taxpayer's responsibility to support them.
At the end of the day, SS and Medicare are ponzi schemes with over TRILLIONS in unfunded liabilities. TRILLIONS and you want another $250 handout? The real reason Democrats are pushing healthcare is they don't want the $40 TRILLION in Medicare unfunded liabilities to to blow up in their face. Republicans are just as much to blame. Neither party has the backbone of a banana and both refuse to stand up to the blackmail from seniors and tell them they are going to have to sacrifice just like the working people who are being taxed to continue supporting them. Compromise and sacrifice can be worked out now or it can be mandated by our creditors later. You choose.
craziest thing about SS is that people pay in their whole life, die early-never collect a dime. where does the money go ?? if a person had put that same money in a bank account, at least it could have gone to the kids, or somebody.
That $$$ goes to all the folks coming into this country & have never paid a dime for benefits...When we realize we can't be the GOODGUY for everybody maybe, just maybe we can get our house in order..we can't be the police for the world either.
Southernguy. Are you hinting that the CONS are gping to lose more seats this year? I doubt the Dems are worried, after all they represent an overwhelming majority of the american people. Of course our constitution makes the majority the ruling party, as it should be. I really can't wait for change, and I am sure I will like it. Of course if I don't, I can always follow Rush and go to a third world country for all my health care. But then of course, I would have to be a party to a single payer system in Costa Rica. Amazing that they are so much more advanced than we are.
Some of you need to get a life or at least take a few classes in composition. These long posts are ridiculous and I hope you know nobody reads them. James, I agree with you, the simple fact you don't want to get old or sick in America. It's a curse. Our Governor of Georgia has proposed limiting Medicaid reimbursements. I.E. Make the poor and elderly pay more of the costs. Yet he won't raise taxes of tobacco and alcohol. This is because might anger some of his supporters who are make money in the tobacco and alcohol industries which might even include himself and his own family. Pitiful...just the thought of making the poor and elderly pay anything more than they already do is a crime.
Kappa, you might want to take your own advice. Two different subjects in one paragraph!!!
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