Social Security – America’s Trojan Horse

December 19, 2004

Social Security has always been a hot button for me.

I don’t know if had anything to do with me but in 1992 shortly after being inaugurated, President Clinton seemed to be proposing gradually raising the age of eligibility for social security retirement, a suggestion that I made by letter two weeks prior outlining my rationale and the benefits of doing so.

Of course, after just mentioning such a possibility, the opposing party and most elderly people jumped on the idea and squashed it thoroughly, even though the average recipient now lives twenty-five percent longer than they did in the beginning.

Social Security has been called the third rail of politics – touch it and you die. It has also been called a boondoggle and a Ponzi scheme, all of which have the fruits of truth.

Now our illustrious leader wants to tackle Social Security himself by allowing taxpayers to invest up to two thirds of their contributions into a private retirement account.

This idea leads to many more questions. What about the Medicaid portion? Will Employers still match a private account contribution? If not who makes up the difference? Who will protect these people from their own bad investments? Will private accounts be regulated for security and stability? Will only these accounts be restricted to Mutual Fund style accounts which spread out and diminish both risk and gain? If Private accounts are approved, how will the large shortfall be made up in the short and long run? If sums are to be borrowed for this endeavor, who will be responsible for repayment?

These and many more questions need to be answered. We don’t need any more open ended endeavors

August 5, 2007. Bill Clinton, fairness, George W. Bush, lifespans, politics, President, President Bush, primary, relationship, social security, third rail.

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