Saturday, July 23, 2011

DUMMY DON --Desperate times for a needy government


...another point from me, DUMMY DON: Am I seeing the world through DUMMY eyes or something? I don't know; maybe I am just getting senile in my golden years. (or wiser?) One post commented just recently, "Who cares what you think?!" (gulp).

Well, here is my latest observation and wonderment about what is being broadcast over the air-ways about Social Security. Invariably, I see and hear the talking heads on TV doing such things as pointing to pie charts, showing how much money from our country's budget pays out to Social Secuity, thusly pointing out how we must make substantial cuts in Social Security. Well, what no one seems to realize is that the money being paid out, from the budget pie chart, is paid from the money COMING IN! If you do away with Social Security, --you also do away with that money COMING IN to create the pie chart in the first place! On top of that, the government often takes that money being paid into Social Security and uses it for other things.

I quote here from the recent Daily Record article, "Seniors; AARP's NEWS YOU CAN USE, Speak now to save Social Security, by Sy Larson, president of AARP New Jersey, who has a doctorate in political science:

"Social Security is financed through payroll contributions from employees and their employers, separate from the rest of the federal budget, and therefore has not contributed to our nation's large deficit.For the next 25 years, Social Security will be able to pay 100 percent of its benefits to all eligible recipients and 75 percent thereafter. This means that at some point, Congress will have to develop a plan to guarantee the long-term solvency of the program.However, Social Security should not be considered as an asset to help balance the nation's budget....... In fact, Social Security is the only source of income for 25 percent of older adults in New Jersey, the majority of whom are women."

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