Tuesday, September 13, 2011

Keeping social security promises will require large scale sacrifice

On July 7, the Heritage Foundation published a charticle that plots defense spending versus entitlement spending against the past ~50 years.


http://www.heritage.org/budgetchartbook/defense-entitlement-spending

On September 12, CNS news reported the ratio of 1.75 people working full time jobs in the private sector for every 1 person collecting social security,

Labor Dept. Data: Only 1.75 Full-Time Private Sector Workers Per Social Security Recipient

...and with the Baby Boomer generation soon to retire, this ratio is going to get worse. To sustain social security for the current
retirees and the Baby Boomers, politicians will have to develop a strong spine to make some very tough decisions. For that to happen, voters and taxpaying citizens must do the same. We refer to the WWII generation as the Greatest Generation for all the sacrifices they made so that we could live in the country we have today. As a member of Generation X, I propose a far lesser sacrifice: pay into social security during our working lives until every last person 55 years or older receives every social security benefit promised to them by the US government. But after that, social security, at the federal level,
must end and never exist again.