Question Of The Week, 8/14/05
I hadn't been doing much as far as reading or listening to the news went this week end.We have been celebrating my Birthday,(That was yesterday) so I hadn't given much thought to this weeks question . When I did start checking the news wires to get an idea I noticed that there was another celebration taking place. This is one of many articles telling about the 70th Birthday (I'm a little younger than that) of Social Security. It says, "AARP also marked Social Security's birthday with the release of a new poll showing that not only has public confidence in Social Security increased in recent years, but the program has also surpassed pensions and savings as the top source of income Americans expect to rely on in retirement." So, this weeks Question Of The Week is. Do you think you will be able to rely on Social Security to take care of you when you reach retirement age? I will post my answer in the comment section Monday.
God Bless America, God Save The Republic.
God Bless America, God Save The Republic.
posted by David Schantz | 12:57 AM
17 Comments:
David, I believe Social Security will be there for me, not as is, but a re-vamped version of it. People will eventually wake up to the problem, and when they do, Americans have an extraordinary ability to work together to get something imperative accomplished. Of course, this only GENERALLY occurs at the very last minute, either right before, or right after a severe crisis (witness 9/11, natural disasters, etc.).
It's just too bad we have to put this issue off for now when we could drastically improve it, and probably do a better job of it right now than we will if we wait to do an "emergency fix". But hey, that's how we Americans are; bi-partisan in disasters....
P.S.: Happy Birthday!
David,
First...Happy Birthday! Did you celebrate all week long?
I believe that Social Security will be there for me. However, I am not certain that the benefits will be as they're now stated. Therefore, I have some other annuities as well.
Right now, SSA is promoting later retirement in order to stave off the paying out of benefits to Baby Boomers, a HUGE group.
Happy Birthday.
I don't believe social security will be there for me. I think some of it will but most of the benefits will not be.
With the national debt being so outrageously high and the number of people going to retire in about fifteen years I have a hard time believing when I am ready to retire there will be much left but I don't know for sure.
Great question.
I absolutely believe that Social Security will be there for me. Contrary to a lot of the crisis rhetoric, small adjustments might need to be made, but no kind of massive overhaul or additional accounts tacked on are going to be needed to keep the program solvent.
The bigger problem to worry about is Medicare, which could be completely gone by 2019. While Social Security (in the least optimistic projections, which have never been right) starts paying out more than it earns in 2019, Medicare's Part A--its biggest entitlement--will be completely out of money. No benefit reductions or decreases in coverage, they just won't have any money. And that comes at one of the peak times for baby boomers retirement. Medicare is something we should be focusing on.
I'll be 24 next month and I feel if we stick with the President, our Social Security will be there for my generation with more benefits than any other has seen.
SS will be there for me, as is and that isn’t that much to live on. Now for the younger Americans of today, they will have a plan and I think a good plan by the time they retire. Will it look like the program of today? No… I doubt it looks like anything being proposed right now by either side but over the years they’ll work it out up on that Hill.
(Just for fun check out this short slide I did on President Bush on SS. For DSL/Cable high speed only… Sorry, no dial-up!)
Click link below-
AubreyJ...
President GW Bush on Social Security
...Happy Birthday!!!!!!!
The rate it is going I won't be able to buy gasoline at $3.00 ++ on my SS income. But I never planned on living on it to begin with so baring a total collapse of our economy we will be fine. I am more concerned with the decline in engineering, science and technology educations in this country which will have a more dramatic effect on the over all welfare of our citizens than a restructuring of SS; which will happen one way or another.
I think it would be irresponsible of me to count on it. As, I now understand the program, current workers contributions pay for the benefits of now retired workers, who themselves made contributions during their careers. While, this mortgage on America's future does, with adjustments, seem sustainable, it does not seem just. It almost seems fair that, those who have made and those making contributions should expect to receive benifits, but such expectation is a conspiracy of ours, against Americans not yet born. Why not leave an America after us that doesn't come with a pawn ticket.
BTW happy birthday and thanks for the Wkly Q invite.
Happy Birthday, David! :)
As for your question, do I think I can rely on having s/s when I retire, from the way I've seen this administration deplete our nation's surplus and replace it with enormous debt along with their irresponsible decisions favoring corporate pocket lining, my answer to your specific question is no, I don't think I can rely on s/s being there for me.
I want to start by thanking everyone for the Birthday wishes and for their answers. Always On Watch, no I just celebrated for two days the rest of the time I was down with some site problems.I had a reason for celebrating for two days. Friday is my day off, Saturday was my Birthday. Our contract at work says you can take the day off with regular pay or work it for triple time. Right now all of us are being laid off about one day a week, my lay off day fell on my Birthday. My Father retired the 1st time when he was 62 years old. Later he got part time jobs tending bar and washing dishes because he was bored.I think he did that until he was about 68. I do think SS will still be there when I retire but I know I won't be able to retire at 62 like he did. I'll have to work longer and it won't be because I'am bored. When I do retire I'll have SS and my retirement from my job to live on. I do have a plan to bring in a little extra cash and fight off boredom that should be easier than washing dishes or tending bar if it is needed. Once again I want to thank you for your answers, I hope you'll be back for next Sundays Question Of The Week. I'll be updating Gas Prices In Your Area on Wednesday.
God Bless America, God Save The Republic.
I don't belive Social Security will be there for me, nor do I beleive it should be. All of the New Deal ideas were to be meant as a temporary fix. The fact that we now celebrate it's 70th year proves how the Democrat have allowed our society to beleive we need it.
I am 27, and from what I have read and even from my own life, I already know that most of my peers will be prepared for retirement and will hopefully not need SS. To me, if SS is still around, especially in its present form, god help us all.
Craig,
I agree but it was not just democrats that allowed it to stay around.
I also don't think it was a good temporary fix and the only way FDR got what he wanted was by threatining to add more people to the supreme court.
It will be there. It's not going anywhere.
Well happy (belated) birthday! If the current retirement age holds (which I don't think it will) it will be about 50 years away. Personally, I don't think anything is certain in such a long time and in times like these. There are signs that the economies are changing and the old things don't seem to be the same anymore. But to answer the question, no, I do not think I will be able to rely solely on Social Securit for my income.
This comment has been removed by a blog administrator.
Once the baby boomers start retiring they are going to regret not having more children to help fund their social security. This is a time bomb waiting to burst and the Democrats will stop at nothing to keep this bomb from being defused.
Happy Birthday by the way!
Whether or not Social Security will be there for me is irrelevant. I have never at any point assumed that I would not somehow provide for myself.
That being said, I would be willing to let the feds keep the money they've already stolen from me if I can opt out now.
Happy Birthday (belated).
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