I hope that the public understands the major motivation that Social Security be cut: Cash Shortfalls.
According to the SSA, the 2013 cash shortfall was $79B. It averaged $50B per year for the years 2010-2012.
These shortfalls were not a surprise and were supposed to be handled by the trust fund. Unfortunately, We the People allowed polititions to get away with borrowing and spending our retirement money on everything under the sun, including tax cuts for the rich.
Their answer to the problem they created is to cut our benefits, and We the People must stop them.
With the rise of progressive activism/populism, 2014 should be interesting. I look for Obama to try to push "automatic IRA's" as the solution to the retirement crisis, rather than do what needs to be done- raise the cap and increase benefits.
I consider Barack Obama to be the archenemy of Social Security. We will be in for a major battle at least until he's finally gone.
I hope that the public understands the major motivation that Social Security be cut: Cash Shortfalls.
ReplyDeleteAccording to the SSA, the 2013 cash shortfall was $79B. It averaged $50B per year for the years 2010-2012.
These shortfalls were not a surprise and were supposed to be handled by the trust fund. Unfortunately, We the People allowed polititions to get away with borrowing and spending our retirement money on everything under the sun, including tax cuts for the rich.
Their answer to the problem they created is to cut our benefits, and We the People must stop them.
With the rise of progressive activism/populism, 2014 should be interesting.
I look for Obama to try to push "automatic IRA's" as the solution to the retirement crisis, rather than do what needs to be done- raise the cap and increase benefits.
I consider Barack Obama to be the archenemy of Social Security. We will be in for a major battle at least until he's finally gone.