Social Security in the Crosshairs

4 November 2004 2 Comments

Social Security in the Crosshairs

As we prepare for the President’s second term, I anticipate a long, hard, arduous, hate-filled road ahead.

Making good on a campaign promise made in both the first election and now in this one, Bush has his sights set on Social Security reform. Everyone knows the system, as it stands now, is a ticking time bomb. 77 million baby-boomers are about to retire and expect the money that has been paid into the world’s largest 401k plan to be available and ready for them to use. And it will be. The long-term problem is that will very much deplete the resources that youinger workers have paid in and also expect upon retirement.

Bush’s plan (preliminary) is to set aside some of the social security withholdings to be available for private investment. This would be option, I’d presume, but would allow social security dollars to work for the individual.

Of course, Democrats will rile up the old farts into thinking the President is taking away their retirement when that’s not the case. Social Security is a hot bed issue with far reaching consequences.

If the issue was taken up in the President’s first term, we’d be greeting Presidnet John F. Kerry today. However, if successful, this Presiden’t legacy will live on for a long time to come.

My concern is the cost. Let’s see how they start spinning it.

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Tags: Op-Ed, social security

2 Responses to “Social Security in the Crosshairs”

Carol 10 January 2005 at 5:04 pm #

Oh my GOD. I remember hearing one of those stations when I was a kid. I had a little pocket AM radio, and back then you could pick up stations as far away as Canada if weather conditions were ideal. I remember coming across one where a woman’s voice read off numbers and nothing else — it gave me the creeps, and I was convinced it had something to do with communists…or bad things. (Hey, I SAID I was a kid. I couldn’t have been any older than 5 or so.)

How funny — they’re still in operation.
Carol 5 November 2004 at 9:58 am #

Oh my GOD. I remember hearing one of those stations when I was a kid. I had a little pocket AM radio, and back then you could pick up stations as far away as Canada if weather conditions were ideal. I remember coming across one where a woman’s voice read off numbers and nothing else — it gave me the creeps, and I was convinced it had something to do with communists…or bad things. (Hey, I SAID I was a kid. I couldn’t have been any older than 5 or so.)

How funny — they’re still in operation.