Social Security Needs Fixin Now
It frustrates me how our government continues to keep the blinders on regarding the needed revamp of social security. The Baby Boomers are already beginning to draw their benefits and the unreal toll on the system will only get larger. A forty something like me is probably looking at 1) higher payroll tax; or 2) smaller benefit. The recession has also impacted the collections over the past 2 years. The time to act is now. I think the government needs to quit ignoring the issue and do something. Ignoring the issue is like ignoring a cavity in your tooth. With time the issue only gets bigger. If they want to raise payroll taves 1/2 percent so be it. Just do something other than ignore it.
What's your take on the Social Security problem in our country? Please share your recommendation in a comment.
If you havn’t already, watch I.O.USA on your netflix. It’s a good documentary on SS and then the medicare/medicaid side of it as well. Many don’t realize we’re using SS surplus to pay down budget deficits and that our true deficits are much greater.
I’m not counting on Social Security at all for my retirement planning. I’m in my mid-forties right now and I figure there will be major problems in the 20 years before I retire.
The problem is that no one wants to touch it. People freak out just at the mention of change. Look at how people are freaking out over health care reform. And, although I don’t agree with the Obama plan, it really needs to be reformed. Senior citizens are the worst. My Mom, aunts and uncles each send me about five chain emails a week. Most are just urban legends and they believe them.
So, politicians are going to wait until it turns into a disaster, like the financial crisis and the budget deficits. Then, they can act like they are heroes for saving it. It’s pretty pathetic that we don’t have any real leadership in this country.
I’m a fortysomething as well. I think Washington is out to lunch bottom line. I see Soc Security as a small part of my retirement income. The longer they wait the smaller it will be no doubt. Thanks for your comment.