Midnight Rantings

Tired rantings in a tired world.

Monday, March 08, 2004

GenXers and Younger are Screwed.

RetireSafe.org has put out its reaction to the Greenspan statement regarding the state of Social Stupidity...er...Security. Greenspan merely voiced what no politician is willing to say: Social Security will be wiped out by the Baby Boomers. The Boomers bought into the idea of humans overpopulating the world and stopped having kids. By doing so have sown the seeds of Social Security's pyramid scheme to fall like a house of cards. Anyone under the age of 50 should seriously rethink the role of Social Security in their retirement plans. It won't be around.

One of the more astute things Bush has put forward is redoing Social Security. Even if people placed there savings in a savings account, they would have more money to live on. I think the dirty secret is the fact that Social Security is free money to politicians. There is no "Social Security lockbox." There never has been. Our overpaid and underworked representatives have used our contributions as free money. This will not continue. What say you Democrats? Why should the children of the Baby Boomers cover your largesse? Either raise taxes or cut benefits will be the answer put forth. To be "bipartisan" a little of both will pass. How do I get out this scheme? If I had come up with this scheme, I would be locked away.