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Social Security may be on the White House chopping block, a US Senator recently told Raw Story, expressing deep uneasiness about President Barack Obama’s noncommittal attitude toward staving off cuts to the cherished program.
“I have to tell you, I have been on the phone to the very, very, very highest levels of the Obama administration, and the responses that I am getting are not assuring,”
“So what the president has done is walked us in an unprecedented direction in terms of diverting huge amounts of money from Social Security,” Sanders said. “A very, very, very dangerous precedent. And when aides of his such as [Chairman of the Council of Economic Advisers] Austan Goolsbee were asked to reflect on this, he chose not to do so.”
But much more disconcerting, the senator added, was the tax deal the president struck with Senate Republicans last month, which included a one-year cut in the payroll tax – the source of Social Security’s funding – from 6.2 to 4.2 percent. Obama previously argued the compromise was necessary to prevent a tax hike on middle class Americans.
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I appreciate that Social Security has always been considered the “third rail” but, based on the fact that few politicians care what the voters think and, in looking at the current, disastrous financial state of affairs, surely this inevitable?
Since so many of our VIP Members who are retired in Costa Rica, heavily rely on their monthly Social Security payments, I would love to hear your opinions?
Scott Oliver – Founder
WeLoveCostaRica.comSo many depend on SS income for retirement as will I. The thought that they would end it seems unlikely, unless of course they are looking for a spark to throw the country into chaos and then rebuild a totalitarian state from there. I would prefer a lump sum payout option as I no longer trust our (any of them) government to do the right thing by the people.
If it were to end I would assume those of us who have paid in for many years would get a check mailed to us? They would have to have some sort of phase out policy, this wont happen cold turkey imho, if it happens at all.
Our Sergeant Major in 41 Commando used to scream at us saying in his thick Scottish accent:
Never assume! Because when you assume you make an ASS out of U and and ME!
Scott
States Warned of $2 Trillion Pensions Shortfall
[ http://www.cnbc.com/id/41129099 ]
US public pensions face a shortfall of $2,500 billion that will force state and local governments to sell assets and make deep cuts to services, according to the former chairman of New Jersey’s pension fund.
Revolution? Don’t make me laugh! What can any citizen group do against an entrenched power like the US oligarchy? Especially a citizenry of fat, lazy, stupid cowards who have bought the lie of the American Dream. The dream was always a lie and freedoms and wealth have been stolen from us in increments for a long time.
But I doubt removal of social security is part of the plan. The social disruption would be more costly than any entitlement and these people who run the show are all about profit and control. They don’t need a military to control us as long as they control the money supply.
On the other hand……
What did people do before Social Security existed? They survived. I have no problem having a debate as to whether Social Security should be phased out. If that were a consideration it would be something that would have to occur over a generation or even 2. It would encourage people to save and not become reliant on Uncle Government which has demonstrated uncanny ability to screw things up. I highly doubt the program will ever be eliminated though. Too many people have become too dependent. My guess is there will be changes made and even those likely “modest” changes would occur an extended period of time. Existing retirees and recipients won’t have anything to worry about.
Some people don’t know how to save.
Something like this would just about guarantee that our rookie, never-had-a-real-job, economic idiot president will NOT get re-elected.
I for one am just fine with that.[quote=”grb1063″]Some people don’t know how to save.
Something like this would just about guarantee that our rookie, never-had-a-real-job, economic idiot president will NOT get re-elected.
I for one am just fine with that.[/quote]Try thinking in a more expansive way. Forget about the absurd political horse and pony show. That is there as a distraction. Politicians can’t solve our problems. They are there only to perpetuate the dysfunctional monetary system which enslaves us. While your brainwashed mind is busy looking for some political party or other individuals at which to point a finger, the Owners are busy picking your pocket too.
Some people do not know how to save? So what? Slaving for money is an absurd way to live a life whether you’ve saved some of your money or not.
I have preaching the enslavement line for years and would consider myself a Jeffersonian: “To preserve our independence, we must not let our rulers load us with perpetual debt. We must make our election between economy and liberty, or profusion and servitude.”
That foul NJ air and horrendous tax structure must make you jaded.
At least those who saved and were wise enough to seize the market in Jan 2009 hit the trifecta.Regarding ss we pay into it via a tax.I am self-employed and pay 15.2% of my income. If the government was to eliminate it there goes a great piggy bank they have been “borrowing ” from. Most die before getting back what they put in.
My point is this is not a handout, most of us have paid into this fund and simply expect a distribution at the time of our retirement. The government acts as the custodian of these saved funds, just as Fidelity does. So indeed we have saved for retirement via our social security payments. You pay in for say 45 years and on average you receive payments of maybe $1300 per month for 12 years.
wat happened to that lock box gore was blabbing about? how could they get away with this theft? they should all be lined up against a wall and shot. that’s MY money. it’s not a hand-out and i paid in plenty and i want it all back WITH INTEREST!!!!!
Awww don’t feel badly about this. It’s all going down the drain soon enough anyway. All the social security, the savings accounts, the pension plans…even the money under the mattress and those coins and bars of precious metal will all soon enough be useless. Money has always been an illusion which was only useful as long as we believed in it. The illusion is getting more transparent as events unfold and as more and more of us see it for what is really is.
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