Tuesday, August 31, 2010

The Social Security Bomb

Very few will argue the catastrophic issues plaguing our Social Security system.  I do find it a bit comical that Bernie Madoff was convicted for his Ponzi scheme, while at the same time that essentially is what our Social Security system is.  As long as people are putting more money in that what is being taken out it goes on, but once that balance starts to tip to more more withdrawals, then someone is in trouble and we all know Bernie was convicted.  We are all facing our own conviction of sorts with the Social Security system and like many I'm not happy about it.  Most in my generation don't expect that they will be receiving Social Security, but I wonder how many hope that they do?.  I'm frustrated that for years I've had monies taken from me for a system put in place by Socialists of past without any say on my part.  To make it worse is that we are now borrowing money to fund our nation.  When you put these two items together something has to give. Make no mistake that if you are in fact expecting Social Security, then you are in fact taking money from your Children.  Well at this rate we are also taking money from our Grandchildren and Great Grandchildren.

I wonder if my generation is willing to step up and do the right thing and not collect Social Security?  Pay Social Security to our parents, but let that be the last generation and then please dissolve this failed experiment before my children and grandchildren are forced to pay for me.  Just a thought.



  1. I'm fine with it. It's really up to us to save for our retirement (I'm not doing a great job though). But I agree...it's a messed up deal. My mother receives SS but she also does what she can to save.

  2. We are stealing our children's money and future, in my opinion. One generation, possibly two generations, is going to have to make a stand and take the pain to make this right.


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