In May of this year, Social Security announced that program costs will exceed revenue by 2016, one year sooner than what was reported last year. Additionally, the social security trust fund will be exhausted in 2037, four years sooner than projected last year.
Shouldn't social security merit top priority over healthcare reform? Think about our children born in the 70's with no supplemental retirement benefits. Why pay into social security at all? Most of them are currently unemployed and unable to set up their own individual retirement plans so as not to rely on social security. Such a bleak picture of the future should be compelling enough to command urgent action.
If that is not enough, consider this: to pay all scheduled benefits over a 75 year period, the social security trust fund would need additional revenue equivalent to $5.3 trillion in today's dollars. The country's projected deficit over a 10 yr. period is a whopping $9 trillion!
Why is the administration rushing to pass the healthcare reform bill this year? Haste makes waste. Is this the way to run government? Set priorities, lay out a plan and stay focused on the goal. It appears that the agenda is to react to issues triggered by special interest groups under the banner of serving the public interest.
Can we please have a plan to reform social security before next year's annual report?
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About Me
- zoni
- I'm your next door neighbor with serious concerns about our America. Most people have been silent about things that matter because they do not have the facts. This blog's mission is to educate you about the issues that impact your financial security, your health and your values. In the words of Dr. Martin Luther King, "Our lives begin to end, the day we become silent about things that matter". Speak the truth. Be empowered and stand on the facts. Rise in righteous indignation and together we can effect the change to take back America.
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