Talk of The Villages Florida - View Single Post - A Troubling Prospect To Consider
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Old 01-19-2009, 07:03 PM
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The only place where we may not agree is on the issue of Social Security. For as long as I have been alive, SS has been a contract between the government and the people based on the 1920-1940 economy. Only a few years ago the US Government changed its civil service retirement system - which formerly did not have SS contribution/deduction - to one which SS is now involved and marketed as one-third of one's overall retirement package.

For many people, SS may not be their only retirement funds, but it is indeed a significant percentage of it. Changing the rules in the middle of the game is just another raping of the little guy who has planned according to what was available.

I can understand that SS needs reformatting, but that should be for those entering the system, not those now getting ready to receive payout.

The reason why SS requires infusion from the General Treasury is because the Social Security Trust Fund has little funds - the moneys received by FICA has been diverted to the General Treasury which has given the SS Trust Fund non-negotiable Treasury Bonds instead. This fiscal sleight-of-hand has not helped the situation at all. But, here was a pile of money that Congress could tap without oversight, and Congress took full advantage of it.

Now, the interest on those Treasury Bonds needs to be paid, and some cashed in. Why is it okay to make sure that Citicorp, Bank of China, Prudential Insurance and others not only get paid, but mega-billion dollar bailouts are to be given to them because they did dumb things. Contrary, the little guy didn't make any mistakes, obeyed the law, paid the FICA each pay period, and now is to get screwed? Sorry, but if we can bail out AIG, FAnnie Mae and others, we are now supposed to tell seniors they don't count?

It's beginning to seem like this society is becoming like "Logan's Run." The most vulnerable of the population - the unborn and the senior citizens - are to be collateral damage in the Generation X's quest for pleasure.