I happened upon this article that explains that with no rise in the Consumer Price Index (CPI) this year, social security recipients will not get their usual cost of living raise this year. Because medical care costs are not included in the CPI - what government genius thought that up? - rising costs for their health care will effectively make any of our seniors on SS a little poorer this year.
Do you know what I say????? Boo Hoo HOO! Pretty calous? Damn straight. Here's why: because Citizen Zane has been paying 7.65% of every pay check this year to fund Social Security and Medicare and my dear employer has been matching those contributions. Assuming that I make $100,000 (because that one and those zeros make for an easy calculation) this year, my employer and I will have shelled out $15,300 to pay for seniors. When my wife was still gainfully employed, we were paying her share too, and for what? How much Social Security and Medicare will I be blessed with? I am still a good 25 years away from collecting and we have to survive all of the baby boomers who are holding out their greasy palms for their share and are in line before me. In other words - I AM NOT GOING TO GET JACK SH*T WHEN I AM OLD! That's because that account in my name that Bill Clinton promised would be there has absolutely NOTHING in it. Congress already looted it and used it for some stupid pork barrel project or a war in the Middle East.
So if you are lucky enough to be collecting anything at all right now, count your blessings. When the baby boomers start retiring, we are going to be buried under the social security and medicare obligations owed to them that we don't have savings for. Here's what's going to happen...everybody who isn't collecting SS or medicare will vote to reduce the benefits for the people who are. Either that or the system and the governemnt will simply collapse from the accumulated debt. And the baby boomers have nobody to blame but themselves. Everybody in the free world has known that the system is going broke since as long as I can remember. Problem is, nobody did anything about it. If you think that Congress today is going to worry about your problems 10 years from now, you are a fool. Go check your face in the mirror, point to the reflection, and say thou fool!
I remember when President Bush Jr. was talking about privatizing SS, and there were a bunch of ding dongs out on the street corners with signs telling him to keep his filthy hands off of their benefits. HAHAHAHAAHAHA!!! The joke is certainly on them. There was nothing there for him to sully his paws on. I think that our only hope is to let a bunch of new immigrants who will work and fund the next round of retirees into the country. Let's hope that our immigration policies in the near future will be smarter than our retirement plans are right now - Citizen Zane