Wednesday, May 13, 2009

Believe the Lie

From here:
Social Security's challenges have been exacerbated by the recession. Still, the fund is expected to continue paying full benefits for almost 30 years while funding about 75% of benefits thereafter.
I thought that after all these years that our esteemed members of the press would have learned that THERE IS NO SOCIAL SECURITY OR MEDICARE TRUST FUND! None. Nada. Zero.

We only have a few short years before both of these plans begin to be a major drain on the Federal budget. At that time, we'll find out just how long they can pay 'full benefits', and I'll guarantee you it's substantially less than 30 years (probably not even 30 months).

1 comment:

Millionaires Of Genesis said...

The lesson here is that it's up to you to make enough money to live a comfortable life. You can't rely on government.

The party line is that this is unfair. Blaming only gives power to what/whomever you are blaming.

Every person should be 100% responsible for their finanial future. Open up multiple streams of income. Or be at the mercy of government or whatever entity which you depend on for your financial stability in retirement years.

Ryan