Social Security cuts for Baby Boomers are coming

[Sailor]

Did You Ever Notice the Asterisk on Your Social Security Statement?[/b]

While engaging in the mundane task of gathering financial statements for a “secure retirement” meeting with my husband’s and my adviser, this Baby Boomer stumbled upon documented proof that our nation does not have the guts to confront one of its most serious economic problems. The realization came when I pulled from my files a document statement innocently titled, “Your Social Security Statement.”

At first glance, the statement did not appear menacing. I was told I could expect to receive a benefit of “about $2,136 a month” upon reaching age 70 — which certainly seems like good news. But immediately I thought of a parallel of President Obama’s infamous Obamacare promise: “If you like your Social Security, you can keep your Social Security.” Then, as if on cue, I saw an asterisk with the following message:

"The law governing benefit amounts may change because, by 2033, the payroll taxes collected will be enough to pay only about 77 percent of scheduled benefits."

Read more at: www.nationalreview.com/article/421790/social-security-bankruptcy-statement-baby-boomers

I'm not going to write what is going through my mind right now ... I think even 101 would have to act on it and I don't feel like being put into hack or be banned. So use your imaginations.

[warrior1972]

That's just it.

I HAVE used my imagination.

The facts are indisputable. We, as a country, are broke. (Oh, and by the way, the Russians and the Chinese KNOW that we are broke).

The evidence is all around you.

And regarding Social Security, we've known for quite some time, long before Obama, that we weren't putting into it what we used to and that we wouldn't be able to take out what were are being told.


The only question is how bad it's going to be, and who's going to be left holding the kewpie doll, as if it's "all their fault".

Democratic or Republican President and/or Congress, it won't be. It will be the sum total of the actions taken over decades by both.

And it won't be pretty when the chickens come home to roost.

[Sailor]

"And it won't be pretty when the chickens come home to roost."

No it won't. It's the sum of the actions of every Congress since SS was established. Every one of them in both parties saw the money being taken into the "trust fund" and thought they could tap that money with no adverse effects to their careers.

Well, as you say the chickens are coming home to roost and there is plenty of blame to go around.

Thing is, every time ... EVERY TIME ... anyone started making noise about doing something, anything, they were pilloried by the other party about wanting to toss Grandma and Grandpa out on the street with nothing to eat and nowhere to sleep.

Well, now WE are "Grandma and Grandpa." WTF do we do about it?

[warrior1972]

I'll level with you, Old Sailor.

Regardless of whatever we do, we're falling, and we can only choose what we fall with:

a parachute, or an anvil.


Just a thought.

[Sailor]

What? With the current generation of politicians running the place we shouldn't expect a Wyle E Coyote moment?

To be honest, Mrs and I made the assumption early on that SS would not be there when we retired. However, life and Mr Murphy bit us (me specifically) on the ass with my medical crisis and with my attempting to help family out financially. No good deed goes unpunished as the old saying goes, and it's true.

We won't be destitute, but neither will we be rolling in dough.

Gotta win that lottery!