Senin, 12 September 2011
No Future For SS
Several years ago Social Security send out a form listing my contributions to the retirement fund.I goose-egged many years and accordingly my expectations for a nest egg upon reaching 65 are next to zero, however most Baby Boomers will receive enough money from the Big Deal program to feed themselves, while going through their savings. Many Americans had planned on living off the interest of their savings or selling off their homes to pay for their golden years. The banks denuded the interest earned on their pensions and savings account, so that Social Security is the sole method available to prevent seniors from living off cat food.The GOP's Texxas Tornado has declared in an op-ed piece in USA Today that Social Security is a Ponzi scheme. Rick Perry wants to revolutionize SS without proposing any real option to replace the 80 year-old program.Florida exists on SS.Count on him to come in dead last in that state.He has touched the 3rd rail of American politics and he now can touch the sky.psone of the reasons SS worked was that the fund received interest on the deposits.Interest rates in America are less than the inflation rate thanks to the banks wanting cheap rates from the Fed.The Heritage of Alan Greenspan.The Fed Guru.They make money the old-fashioned wayThey steal it.And they plan on stealing more too.