Social “Screwturity”

    I just got my yearly Social Security statement. Enclosed was a short leaflet with an article titled “Will Social Security still be around when I retire?” The article states that the funds for Social Security will be depleted by 2037 under the current law. But what really angered me was this statement:

    However, this does not mean that Social Security benefit payments would disappear. Even if modifications to the program are not made, there would still be funds in 2037 from taxes paid by workers to pay about $760 for every $1,000 in benefits scheduled.

    So basically, the government will withhold $240 for every $1000 I should receive. Would you ever own an investment portfolio that had a 24% management fee and offered a near 0% interest rate? I can’t believe I am forced into a system that takes more money away from me (percentage wise) than what I lost in the financial meltdown of the last two years.

    I just got my yearly Social Security statement. Enclosed was a short leaflet with an article titled “Will Social Security still be around when I retire?” The article states that the funds for Social Security will be depleted by 2037 under the current law. But what really angered me was this statement:

    However, this does not mean that Social Security benefit payments would disappear. Even if modifications to the program are not made, there would still be funds in 2037 from taxes paid by workers to pay about $760 for every $1,000 in benefits scheduled.

    So basically, the government will withhold $240 for every $1000 I should receive. Would you ever own an investment portfolio that had a 24% management fee and offered a near 0% interest rate? I can’t believe I am forced into a system that takes more money away from me (percentage wise) than what I lost in the financial meltdown of the last two years. And yet, this inefficient, near-criminal behavior is just seen as “business as usual” for the U.S. government.

    I could have put this money into a savings account. That would at least earn a little interest and not put my capital at risk. I could go to Las Vegas and gamble with it. If I lost 24% at the blackjack table I would be doing as well as placing that money with the government. At least in a casino there is a small chance of making a profit. Heck, I would have come out in better shape just putting the money under my mattress! When we are done taking on the government over cap-n-trade, socialized medicine, and out of control spending we need to launch a revolution on Social “Screwturity.”

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    Pension Tsunami

    A humungous national debt. Growing state federal government budget deficits. Social Security and Medicare, running out of funds. All very frightening. But look out: The costs of public employee pensions are walloping city and state budgets — pushing a number of California cities into bankruptcy. Though the stock market tumble hasn’t helped, the basic problem lies squarely with politicians. They like to increase future benefits | Read More »

    The Medicare/Social Security Conundrum

    We’ve got a small public relations problem, folks.   As it turns out, most conservatives and Republicans don’t know how to answer a seemingly simple question – “are you against Social Security and Medicare?”    Say ‘no’ and you’re a ‘socialist’ and Democrat supporter.   Say ‘yes’ and you risk alienating every living older American voter.   The very question makes most conservatives sputter or | Read More »

    Medical/Retirement Savings Accounts

    One of the frustrating things for me this year is watching Republicans going up against health care “reform” unarmed.   Not that a single man can’t stop a tank every now and again, but let’s be serious, this is open warfare and the Republicans have fewer novel ideas than a Buick engineer.    HSAs used to be a Republican trial battle cry, pre-9/11, but  was | Read More »

    Half of the country wants out of Social Security.

    49% want the chance to opt out, 37% don’t. This was the sentence that jumped out at me: A majority of voters under 50 say workers should be allowed to opt out. A plurality of those over 50 disagree. Speaking as a voter under 50, let me say that both the under-50 and the over-50 positions make perfect sense. I’ve been putting money into Social | Read More »

    Left-Wing Hypocrisy on Obamacare. See 2005 and Social Security Reform

    This is Josh Marshall from 2005: What the hell is Sen. Mary Landrieu (D) thinking? She’s holding a townhall meeting on Social Security tomorrow in Baton Rouge, the same day President Bush is holding his Bamboozlepalooza event in Shreveport. But Landrieu’s event is open to the public, no tickets required. I’ll bet her staff hasn’t even put together a Landrieu-loyalty oath yet or done background | Read More »

    Slouching Towards Bankruptcy

    Podcast Show Notes Gay Gene no more. (Hat Tip: Idaho Values Alliance.) Yes we can…have military tribunals. No, we can’t…release torture photos. Social Security and Medicare accelerate path towards bankruptcy . (Hat Tip: Michelle Malkin.) Click here to download, click here to add this podcast to your Itunes IMPORTANT: Please take our listener survey

    Does the courage for the conservative message truly exist?

    Like many conservatives on Redstate and other sites, I am motivated by the calls and enthusiasm for the return to conservative principles.   The little voice in my head wonders if conservatives are ready for hard choices and positions this will require.   Regardless of the election cycle, we will always have Republicans repeating the mantra of calling for fiscal responsibility, low taxes and limited government.  Every | Read More »

    Marsha Blackburn (R-TN) Has it Right: The Tie Binding Social Security to Medicare Should be Cut

    It’s no secret to anybody who’s been paying attention to budget numbers that the United States, with a current GDP of just under $14 trillion, is $52 trillion in the hole in one specific area: Medicare and Social Security payments owed to those who have already prequalified by paying into the system. “Think about that: Unless you accept government-run health care, you have to forfeit | Read More »

    Madoff not perpetrator of biggest Ponzi scheme

    Contrary to “news” stories coming from the Ministry of Propaganda, Bernie Madoff did not run the biggest Ponzi scheme in history.  To begin with let us look at the definition of a Ponzi scheme.  From Merriam Webster dot com: an investment swindle in which some early investors are paid off with money put up by later ones in order to encourage more and bigger risks | Read More »

    The Next Market To Melt

    “During melting markets, all pension funds come under siege.” I’m quoting from a February article by John Entine. This Reason magazine cover story is entitled “The Next Catastrophe,” and, like so many things these days, it’s scary. Entine explains how fragile pension funds can become when markets collapse. Regular readers know that I’ve been worried about what we might call the Ultimate Catastrophe. Increasing demands | Read More »

    Stand Clear of the Coming Liberal Meltdown

    Liberalism doesn’t work. This should never be forgotten.

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    Is Barack Obama a Courageous Deficit Hawk?

    Steve Steckler thinks so, saying at The Arena: [K]udos to Obama for so boldly bring Medicare (and Social Security) into the conversation regarding fiscal discipline. The one big hope I have for Obama — a hopefulness encouraged by his selection of economic advisors — is that his enormous popularity, especially among liberals and labor/elderly constituencies that normally block reform — will give him enough confidence | Read More »

    Boo-freakin’-hoo

    Good grief. So today I read over at msnbc about folks in their early 60s who still have to work, rather than play golf all day. http://www.msnbc.msn.com/id/27700954/ The whole tone of the article, from the title to the oh-so-sad photos, suggests that there is some great tragedy in people still working in their 60s. Is this something I should be crying about? In defense of | Read More »

    Senator Obama Isn’t Serious About Social Security Reform

    Ask any economist and many of the politicians and those that pay attention on the right what they say is the single biggest problem facing this country. The answer will likely be the unfunded liabilities of the federal government’s entitlement programs of Social Security, Medicare and Medicaid. Serious action needs to be taken now to keep those three programs from swallowing the entirety of the | Read More »