Guest Editorial – Five myths about Social Security
August 17, 2010 at 7:00 pm in Alexandria Echo Press
Have you heard the news? Social Security is going broke! We have to raise the retirement age! Benefit cuts are the only way to fix the problem! The Social Security Trust Fund is full of worthless IOUs! And on top of all that, Social Security is adding to the deficit! Continue Reading
The myth is this editorial. If the money was safe it would be in a fund in cash drawing interest, not a treasury bond which is an IOU to the sucker who thinks it’s going to be worth something.The government is partially funding it’s runaway social engineering out of Social Security.It isn’t purchasing any assets that can be turned into cash when the bond is due. A treasury bond is money loaned to the government so the government can spend it.It’s the biggest ponzi scheme there’s ever been. The money that was put in by all of us hard working Americans is gone folks. With the runaway debt imposed by the Obama administration there is no hope of paying the debt back if this level of spending continues, which it will. The Obama administration is in denial and has no clue.
Hot debate. What do you think?
16 
16
*Myth #6: Social Security is a “retirement program.”
Social Security was never intended to be a retirement program. Its original intention was to help reduce the number of retired elderly that were living below the poverty level. We have ans still are responsible for our own retirement but we are lazy and expect our government to take care of us.
Like or Dislike:
20 
7
Bob, tell that to all of the seniors that thought they had money for their retirement only to find out that they are now BROKE.
Like or Dislike:
8 
9
If you are a senior living on a retirement nestegg that crashed with the stock market then you have made a terrible mistake by not reinvesting your account into more secure funds a long time ago. Like I said, we are lazy and rely on the government to take care of us.
It is our responsibility to make smart choices about our retirement. If you’re like me and don’t know what the “smart choices” are, then you need to seek help from someone that does. Taking a chance by not diversifying prior to retirement and leaving a nestegg in volatile stocks is fool-hearty and reckless. Why should the rest of society feel sorry for someone that took a chance and lost?
Wait! Scratch that. I forgot about all the credit card, home foreclosure, and poor banker debt we are paying for lately. My bad.
Like or Dislike:
12 
5
Alot of people had a rude awakening. They actually had to pay their bills and mortgage payments. Nobody, was taking care of everything for them. Guess, it doesn’t matter how they got there but they are there now and have to live with it. I hate to watch people starve even if they are dumber than rocks and too old to start over. You have to wonder how they got so old and didn’t learn anything along the way but some of them didn’t know any better. It is easy to say there is no excuse but maybe you are luckier than most.
Like or Dislike:
9 
8
I hope nobody took my comments the wrong way. When I talk about credit card and mortgage buy outs, I’m not referring to those that were unfortunate enough to become victims after the fact and lost their job as a result of this fiasco. I was referring to homeowners and business owners (bankers and insurance company execs in particular) that over-extended their credit, ran up irresponsible debt, and took extremely risky chances on the backs of the rest of us and then were unable and/or unwilling to accept responsibility for it when things crashed, resulting in a +10% unemployment rate that caused innocent victims to lose jobs and consequently, their homes. Before we spend the mega-billions or trillions baling out the irresponsible parties, maybe we should have spent the money protecting the innocent victims that got caught in their wake, which includes those of us that have watched as our retirement packages lost half their value. Fortunately for me, I’ve still got enough years to retirement that there is a chance for some level of rebound…I hope.
Like or Dislike:
9 
1