Fear # 4 – Social Security Will Disappear

2015-08-15_07-53-36Only 20 percent of Americans believe there will be enough money left when it’s time for them to retire. To fix the problem, some people believe Social Security should allow means testing, where benefits are based on a person’s income. Others think the tax should be raised, the retirement age should be raised or the benefits should be cut down.

Though there’s disagreement over how, Social Security is a program that almost everyone agrees needs to be fixed before the well starts to run dry. So as Social Security turns 80, when it comes to the future of the biggest and oldest benefits program in the United States, at least after watching this video you can say, “Now I get it.”

Source: Social Security explained.

QE BannerI frequently accuse the Republican party of being the party of “fear”. They seem to depend on it for their existence.

  • be afraid they will take away your guns
  • be afraid of those people coming across our borders
  • be afraid of those trying to take our morals away from us
  • be afraid of this, be afraid of that

But in reality the Democrats do their share of fear mongering. Maybe the biggest fear, at least for those seeing their elder years on the horizon is that Social Security will not be there for them!

The Republican answer to this problem is similar to many other problems.  “Lets get rid of it… you can save for yourself…” Yeah, right!!  That tactic seemed to work pretty well for defined pension plans. They are no longer around today. We are supposed to take care of ourselves instead of having the government do it for us.  The problem is most of us don’t really know how to do that and have done a terrible job of it in the past. Many are predicting a near catastrophic condition in about ten years where those who “managed their own accounts” find out what a miserable job they have done.

Social Security is, and will continue to be the safety net of retirement income. It is the baseline to keep our seniors out of poverty. Even if nothing is done, and I’m sure something will be done, they say it can continue to pay out 75% or more into the distant future. Don’t let the fear mongers lead you to believe otherwise. Until we deem it acceptable to allow people to die in the gutters, and I certainly hope that day never comes, there will be a safety net keeping all of us out of dire poverty.  We claim to be a Christian nation and I hope we continue in at least a minimal way to act like one…

 

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