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#1
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Social Security spiraling towards failure.
Our Treasury Secretary said today what I (and many others) have been saying for years: Our Social Security System is failing, and will become unsustainable by the time many of us will reach retirement age, if not before!
http://money.cnn.com/2008/03/25/pf/soc_sec_trustees_report/index.htm?postversion=2008032514 Hate to say "told you so", but..... Mike
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_____ 1979 300 SD 350,000 miles _____ 1982 300D-gone---sold to a buddy _____ 1985 300TD 270,000 miles _____ 1994 E320 not my favorite, but the wife wanted it www.myspace.com/mikemover www.myspace.com/openskystudio www.myspace.com/speedxband www.myspace.com/openskyseparators www.myspace.com/doubledrivemusic |
#2
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Its always been obvious to anyone who cared to look. SS is a Ponzi scheme.
Most people think there is an account with "their" money waiting for their retirement. Ha Ha!
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1982 300SD " Wotan" ..On the road as of Jan 8, 2007 with Historic Tags |
#3
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Sadly it will just about take its failure for most people to realize that there needs to be some drastic changes. And undoubtedly our elected officials will feel the need to create the next great gov't retirement plan because most of us aren't smart enough to plan for it on our own.
My retirement plan is based on the assumption that I will not see one red cent from SS by the time I reach retirement age, preferably early. Assuming I make it that far.
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1980 300TD-China Blue/Blue MBTex-2nd Owner, 107K (Alt Blau) OBK #15 '06 Chevy Tahoe Z71 (for the wife & 4 kids, current mule) '03 Honda Odyssey (son #1's ride, reluctantly) '99 GMC Suburban (255K+ miles, semi-retired mule) 21' SeaRay Seville (summer escape pod) |
#4
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Thanks for the reminder, Mike. I was looking for a little something else this morning to obsess over. This should do nicely . . . .
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" We have nothing to fear but the main stream media itself . . . ."- Adapted from Franklin D Roosevelt for the 21st century OBK #55 1998 Lincoln Continental - Sold Max 1984 300TD 285,000 miles - Sold The Dee8gonator 1987 560SEC 196,000 miles - Sold Orgasmatron - 2006 CLS500 90,000 miles 2002 C320 Wagon 122,000 miles 2016 AMG GTS 12,000 miles |
#5
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Quote:
Or maybe they will do what they have done lately and just print more money to cover whatever expenses they have - you will get your $1500 SS check and it will just about cover your electric bill for the month due to inflation. It's hard to succeed when politicians can change the rules at any time for any reason - and they have a long history making choices that don't encourage people to be self sufficient.
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98 Dodge-Cummins pickup (123k) 13 GLK250 (135k) 06 E320CDI (323K) 16 C300 (62K) 82 300GD Gelaendewagen (54K) |
#6
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My one kid will have to support the both of us. He'd better bring four kids into this world.
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You don't need a weatherman to know which way the wind blows - Robert A. Zimmerman |
#7
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I've pretty much done the same. I figure any SS money I collect will have to be gravy. This is what happens when we entrust something important to the gummit.
Who's in favor of nationalized healthcare? Raise you hands, please.
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" We have nothing to fear but the main stream media itself . . . ."- Adapted from Franklin D Roosevelt for the 21st century OBK #55 1998 Lincoln Continental - Sold Max 1984 300TD 285,000 miles - Sold The Dee8gonator 1987 560SEC 196,000 miles - Sold Orgasmatron - 2006 CLS500 90,000 miles 2002 C320 Wagon 122,000 miles 2016 AMG GTS 12,000 miles |
#8
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I'm 46 and have been following current events since the mid to late 1970's - since that time it seems like we have "fixed" Social Security about 5 times and apparently its still on a collision course with disaster.
Before we "fix" it again I think maybe somebody should ask the question "Since me need to fix the system for the 4th or 5th time who or what broke it?" Who can honestly believe that the people that have run the SS system into the ground can "fix" it this time around.
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98 Dodge-Cummins pickup (123k) 13 GLK250 (135k) 06 E320CDI (323K) 16 C300 (62K) 82 300GD Gelaendewagen (54K) |
#9
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Why do you think we've had so many?
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1980 300TD-China Blue/Blue MBTex-2nd Owner, 107K (Alt Blau) OBK #15 '06 Chevy Tahoe Z71 (for the wife & 4 kids, current mule) '03 Honda Odyssey (son #1's ride, reluctantly) '99 GMC Suburban (255K+ miles, semi-retired mule) 21' SeaRay Seville (summer escape pod) |
#10
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Anyone? Surely they can get it right on that.
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1980 300TD-China Blue/Blue MBTex-2nd Owner, 107K (Alt Blau) OBK #15 '06 Chevy Tahoe Z71 (for the wife & 4 kids, current mule) '03 Honda Odyssey (son #1's ride, reluctantly) '99 GMC Suburban (255K+ miles, semi-retired mule) 21' SeaRay Seville (summer escape pod) |
#11
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The promise of social security? NOT! I can think of better carrots.
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You don't need a weatherman to know which way the wind blows - Robert A. Zimmerman |
#12
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Good grief. Such doom and gloom.
For one thing, since when is the Bush administration a reliable source of information about Social Security? I am not saying whether anything Secretary Paulson said is or is not accurate, but I sure as heck wouldn't take his word for it. The administration has been putting out false information on Social Security since W took office. More to the point, even Secretary Paulson doesn't say that "Social Security is spiraling towards failure". He says: Quote:
Having said all that, no, I am not expecting to rely on Social Security for my retirement. |
#13
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Retire? The key component of my retirement strategy is the cessation of breathing.
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#14
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I'm just looking for the day when I go to work because I want to, not because I HAVE to.
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" We have nothing to fear but the main stream media itself . . . ."- Adapted from Franklin D Roosevelt for the 21st century OBK #55 1998 Lincoln Continental - Sold Max 1984 300TD 285,000 miles - Sold The Dee8gonator 1987 560SEC 196,000 miles - Sold Orgasmatron - 2006 CLS500 90,000 miles 2002 C320 Wagon 122,000 miles 2016 AMG GTS 12,000 miles |
#15
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Quote:
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1985 380SE Blue/Blue - 230,000 miles 2012 Subaru Forester 5-speed 2005 Toyota Sienna 2004 Chrysler Sebring convertible 1999 Toyota Tacoma |
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