There's a very interesting, utterly factual and highly politically incorrect article at Zero Hedge on the true state of Social Security. Here are a few excerpts.
The Social Security System has an unfunded liability of $18 trillion. This means our politicians have promised $18 trillion more than they can possibly pay out ... The Social Security system had a negative cashflow of $47.8 billion last year, after running a $48 billion deficit the year before.
. . .
In 1945 there were 42 workers per retiree. In 1965 there were 5 workers per retiree. Today there are less than 2.5 workers per retiree. There are only 1.6 full time private workers for every one retiree.
. . .
A recent article on Bloomberg below barely scratches the surface of the massive fraud going on in the SSDI program. Those who think we owe them a living are faking disabilities by the millions. The number of annual applications were flat at 2.1 million per year between 2004 and 2007. They now exceed 3 million per year, as the Obama administration has actively attempted to get more people on the dole. In a matter of a couple years, there were suddenly 40% more people getting disabled. Amazing!!!
. . .
The Social Security system is already broke. The money is gone. Pretending all is well is for fools and there are millions of them in this country. If someone within the leadership of this country was honest with the American people we could fix the Social Security system. A combination of age adjustments, means testing, and reconfiguration of income levels subject to the tax could make it viable. Too bad Washington is inhabited by snakes, scumbags, liars and knaves. Corrupt lowlife politicians, lying liberal media whores, and a delusional populace will ignore the Social Security problem until it becomes a crisis of epic proportions. Then they will propose wrong solutions and implement them badly. Some things are easily predictable.
There's more at the link. If you're counting on Social Security to help secure your financial future, you really, really need to read the whole thing . . . then make alternative arrangements!
I'm particularly angry over the flagrant abuse of the Social Security Disability Insurance (SSDI) program. It infuriates me that many whose unemployment benefits have run out are now making up physical, mental and other disabilities out of whole cloth, and being approved wholesale for benefits that more deserving cases have been denied for years, if not decades. This is nothing more or less than fraud against the American people . . . but it's being unofficially encouraged and tolerated by those responsible for this program.
One day, there will have to be a reckoning.
Peter
Just go down to your local grocery store or Walmart and watch the handicapped spaces.
ReplyDeletePermanent plates on many of those big tricked out Boulevard Queen trucks. Out hops a guy/gal - nobody else in that truck - gets a whale load of groceries/stuff, packs it in. Leaves their cart for someone else to put away and heads downtown for a beer and pizza.
I made all that up. Sure. Right, you betcha.
My 95 year old Dad had to beg for a placquard for the rear view mirror. He had COPD, osteo arthritis (no joint cartilege left!) and could never find a handicapped spot when he needed one.
Sigh... I just want to choke the sh**t out of those people. But just saying it probably qualifies as hate speech.
We ought to start a national movement where we challenge those in handicapped spots that appear to have no handicap. Politely. With video running. But posting all that would most certainly clog the intertubes.
Thanks for your blog, Peter. Back to lurk mode.
Cap'n Jan