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megimoo
09-12-2009, 09:03 AM
“A lot of seniors do not know what’s coming down the pike… When they hear (about it) they’re going to be upset,” said U.S. Sen. Bernie Sanders (I-VT).

Sander’s statement refers to last month’s projection by the Social Security trustees that there will not be a cost of living adjustment (COLA) for the next two years. While historically a small amount, each Social Security cost-of-living adjustment is a big deal for America’s senior citizens.

Seniors living on a limited, fixed income face multiple financial decisions several times each day. Most revolve around what food is available to eat that day and what household utility bill payments they have to juggle each month in order to have something to eat.

In a growing number of cases, “three squares” is a long-gone practice that’s no longer possible. Rent, taxes and personal health-care expenses are other living cost drivers.

http://townhall.com/columnists/RichardOlivastro/2009/09/11/are_seniors_being_targeted
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expat-pattaya
09-12-2009, 09:40 AM
I dislike SS for the simple reason that it has so many people convinced their retirement is taken care of by the government.

The truth is - if you need to live off SS you are screwed. if it didn't exist more people would do something to plan for their retirement. At least I like to think so.

BadCat
09-12-2009, 10:58 AM
I dislike SS for the simple reason that it has so many people convinced their retirement is taken care of by the government.

The truth is - if you need to live off SS you are screwed. if it didn't exist more people would do something to plan for their retirement. At least I like to think so.

I'm actually surprised that so many people find themselves in that situation.

I mean, you have to be pretty stupid to believe that "when I get old, the government will take care of me".

The government has never, and will never, do anything right.

lacarnut
09-12-2009, 02:00 PM
I'm actually surprised that so many people find themselves in that situation.

I mean, you have to be pretty stupid to believe that "when I get old, the government will take care of me".

The government has never, and will never, do anything right.

The younger generation do not believe that. Old farts like me sure as hell did believe that SS would make up a major portion of their retirement. Thank God I am not dependent on the government''s poorly run SS system.

expat-pattaya
09-12-2009, 08:53 PM
I'm actually surprised that so many people find themselves in that situation.

I mean, you have to be pretty stupid to believe that "when I get old, the government will take care of me".

The government has never, and will never, do anything right.

SS was created during a time of trust in government. That generation believed the government would do it right. Of course, times change and reality sets in.

And never underestimate the number of stupid people out there. Just think - there were enough to elect Obama :rolleyes:

expat-pattaya
09-12-2009, 08:55 PM
The younger generation do not believe that. Old farts like me sure as hell did believe that SS would make up a major portion of their retirement. Thank God I am not dependent on the government''s poorly run SS system.

When I got my first real job out of tech school I immediately started saving 10% minimum into retirement. Like yourself, I HOPE I will never need the .gov to live. Course, anything can happen. If the DUmmies get their way I'm sure my wealth will be seized to house someone else who deserves it more than I.

Constitutionally Speaking
09-12-2009, 09:41 PM
Social Security is one of the biggest scams in the history of this country.

It has pushed our seniors into dependence when they SHOULD have and WOULD have been wealthy if they were allowed to invest that money on their own. They ONLY people who won with SS are those who retired very early on and did not contribute much to the system.