Friday, January 14, 2005

Social Security, it's good to be secure.

When I saw the 'current' cost for the war on Iraq, all I could think was 'Gee, 200 billion would go A LONG way to fixing social security'.


That's of course IF I thought Social Security needed an overhaul. First, the side that THINKS it needs an overhaul says the problem isn't until 2018, which TO ME is not 'immediate'. Second I think the first thing that they should do is stop giving my dad Social Security. Yes, he bought into it and paid his dues... BUT he's a rich guy- he has a retirement plan from his job and investments. He does not NEED or look forward to his Social Security check. I don't think Bushco would go for the idea of NOT giving the rich MORE of the government's money but I'd love to see how much the government would save if people like my dad and Mike Eisner, CEO of Disney didn't get Social Security.
And of course, NOT let the rest of the government BORROW money from it.
They argue that while Social Security has been running a surplus, the extra money has not been saved. Instead, it has been lent to the rest of the federal government to pay for everything from medical care to defense. The federal budget, excluding Social Security, has been running annual deficits for most of the past 20 years. In exchange for the loans it made, the Social Security system received a special class of government bonds from the Treasury, a kind of intra-governmental I.O.U. When the time comes -- presumably after 2018 -- Social Security is supposed to cash in its bonds and use the money to pay benefits.


Of course MY biggest problem with Bushco's overhaul is that Social Security was created because of the DEPRESSION. Basically people put all their money in the stock market and LOST it... so millions became paupers overnight. FDR came in, realized that the american people needed a safety net so that mom and pop didn't have to feed and cloth granpa and grammy as well as their three kids.
Or put it another way, ask any of the mid level middle aged Enron employees which they'd prefer stock options at their next job( wal mart?) or a government guarantee of getting a bit of money.

Lastly I thought it was sad ironic, in the way that I often find news of Bushco, that they are using FDR in an ad to bolster THEIR Social Security plan, never mind that his grandson disapproves of this.

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