The Motley Fool Discussion Boards
Financial Planning / Social Security Reform
|Subject: Re: Social Security and US Debt||Date: 9/29/2011 4:28 AM|
|Author: napari||Number: 5258 of 5269|
Changing our gov is required for a solution....below is an older post that didnt gain any traction mainly because everyone has lost hope for a viable solution. It is going to take courage and tenacity and a strong leader with support to make it happen.
Correctly defining what has transpired is essential to understanding and solving the problem.
Social Security and Medicare are insurance programs that millions of people and employers have paid for mostly through payroll deductions. In 1965 our government revoked the trust fund status of both insurance programs. Since 1965 3 trillion dollars plus has been taken out of both social security and medicare to fund wars, roads, etc… In return the treasury has given SS & Med worthless IOU’s.
Currently Social security and Medicare are both being referred to as entitlements. This is wrong because entitlement implies welfare and both Social Security and Medicare are insurance programs that has been bought and paid for. Allowing government elects to redefine SS & Med as welfare is disastrous for the millions who have bought and paid for it. Cuts will be imminent and millions of retirees will live in poverty and lack adequate medical for their needs. The robbery of 3 trillion plus dollars by the US gov from its own people will go down in history as the greatest heist ever and "we the people" have allowed it to happen!
The solution is in two parts: A) “we the people” all need to tell our representatives to reinstate trust fund status to both insurance programs Social Security and Medicare. B)”we the people” need to tell all our representatives to pay back the money robbed from both insurance programs.
Without trust fund status both insurance programs would remain vulnerable to future shenanigans of future politicians.
Part A will be difficult but doable and part B will be near impossible but somewhat doable. None the less it is what must be done to save both insurance programs and restore credibility to our gov.
|Copyright 1996-2016 trademark and the "Fool" logo is a trademark of The Motley Fool, Inc. Contact Us|