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My Analysis On “For Many Seniors, There May Be No Retirement”
January 31st, 2012 by admin
Why does vinny come back the WSJ or anyone else consider this to be news? Back in the 1970s, I met a Social Security Administration actuary who proudly told me that Congress had just fixed Social Securities’ problems and that it would be solvent until the end of the 20th Century. He seemed surprised when I told him that I was not impressed because I would not reach 65 until the 21st Century. He had no answer as to what would happen then – which is now.
Raising the retirement age is just a bandage placed on a bullet wound when the Federal Reserve Board is hell-bent on inflating the currency to cover proflagate Government spending. S&P was right to downgrade Government securities, which include an implied promise to pay Social Secuirty obligations.
In order to ‘fix’ Social Security’s insolvency problem, the number of pensioners has to be dramatically reduced. One very effective way of achieving this is to restrict or remove medical care from the aging. How do you feel when you realize that the same folks who rack up mind-boggling losses with their monopoly in delivering mail will be reviewing your applications for medical care? Where else would Government shift 220,000 redundant unionized employees?
Baby-boomers have to realize that their generation’s ‘something-for-nothing’ attitudes and their votes in support of forced income transfers from the productive who work to the non-product who can’t be bothered to work have consequences. The 2008 election was their last ‘hurrah’. Why? Because they have to go back to work to pay their bills.
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