Does the government need to take money out of my check every week because I don't have the internal discipline to prepare for my own future? That is the program that is Social Security. What has it birthed? Dependence on government. Sloth. And an economic catastrophe.
Today on CNN's web-site, Glen Beck wrote a column ("The $53 trillion asteroid") about the monster that has grown from the seemingly good idea FDR unearthed in the 1930's. Two dizzying statistics:
- He states that the entire US economy rings in at $14.1 trillion. That's a big number. To put that in perspective, if you started counting one number per second, it would take you a bit over 440,000 years to count that high.
- The promise that the US government has made regarding funding social security for the future: $53 trillion.
I'm not a math major, but if we cut off the trillion part of the equation, even I can see that $14.10 won't cover a $53.00 purchase. Something's gotta give.
For those of you who are currently drawing Social Security, congratulations! You're likely among the last generation to recoup what you've put in. For those of you who are a ways off, don't count on it.
For government to continue to keep the monster satisfied, it will require more and more of our income. Either we slay the beast ourself or it will rip itself apart. My intent is not to be alarmest. This is merely a classic example of our government getting into things for which it was NOT designed (i.e. not abiding within that "troublesome Constitution").
Bottom line: Just like the Bible says, you'd best be preparing for the years of thinness because they are certain to come.
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4 comments:
I saw a stat the other day that Social Security is already facing a $13 trillion shortfall. Almost equal to our economy. Looks to me like we mortgaged our future back in the 30s. Unfortunately, the collector man cometh...
-JP
Somebody needs to have the courage to stand up and say, "There will be no more." I don't see any easing out of it.
Sounds about right. Kudos to the man who would have such courage. You can bet he'd be well near crucified.
-JP
What is the fix? Which generation is ready for the politicians to tell them SS is gone? I agree that the program is unsustainable...but as a voter, I would still be frustrated about all the money I've been forced to put into a retirement fund I never wanted. Do we pander to the public and give everyone who has contributed something (they're money back?). Or do we cut SS off at an age group that has never contributed and raise taxes to pay the rest...this is a very tough issue that requires open discussion from our leaders and forceful questioning from the public.
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