Greenspan Warns on Baby Boomer Benefits

AP via Yahoo ^ | Aug 27, 2004 | MARTIN CRUTSINGER

[ladtx]

Looks like changes coming down the pike for us boomers.

[zencat]

Here's the Bush agenda for Social Security. He's the only one with the political nutsack to address the issue instead of pandering.

http://www.georgewbush.com/SocialSecurity/Brief.aspx

The Kerry plan to “strengthen” Social Security is of course to raise taxes. That’s it.

[Eric in the Ozarks]

Maybe we'll get to work till we're 75. That should solve the Social Security problem.

[ladtx]

No Changes in Benefits for Those Now in Retirement, or Near Retirement - President Bush’s first Social Security reform principle is that there be no changes in Social Security benefits for today’s retirees or near-retirees. President Bush’s Administration has kept the benefit promises made to today’s seniors.

Wonder what they call near retirement?

[litehaus]

And Mr. PONZI comes to visit.........for a long, long stay.

[rhombus]

Wonder what they call near retirement?

Depends on the meaning of the word "near".

[ken21]

it's amazing that people let the dems and pubs steal the social security surpluses of the last several decades.

[kellynla]

If Kermit the Frog Greenspam thinks that us boomers are banking our retirement on social security he's got another thought coming...
Can't W find someone to replace this relic???
After all, he's keeping someone else from drawing his salary...
I'm sure he and his wife have made a ton of money on the Market since he's been at the Fed!!!

[gunnygail]

THIS JUST IN!

Social Security renamed Catch-22 Security.

That is, the closer you get to the designated retirement age, they raise it again!

Mommy, please make the Ponzi scheme go away.....

[Maria S]

And what about all of those government retirees? I know several government retirees (social security, land conservation to name just 2) that are just retired. At ages 58 and 60! They were pulling in some big bucks and are apparently retiring at almost full salary.

How does this work anyway?

[afnamvet]

Changes in Benefits for Those Now in Retirement, or Near Retirement - President Bush’s first Social Security reform principle is that there be no changes in Social Security benefits for today’s retirees or near-retirees. President Bush’s Administration has kept the benefit promises made to today’s seniors.

What is the definition of "a near-retiree"?

[ladtx]

Can't W find someone to replace this relic???

Can't do that, then he'd just start drawing a SS retirement check.

[xzins]

Since they're reneging on their promise, what's the odds that they'll just give me all my money back with interest? I'll go ahead and invest it on my own.

[Dog Gone]

Just give me back what I've paid in so far, and let me opt out of the system.

[Protagoras]

The Ponzi bubble always bursts.

[freddiedavis]

the day of doom moves closer each day...

[tomball]

Social Insecurity was a program designed to self destruct, and was designed knowing that more benefits would be paid in by its members than the member paying into it would ever receive before they died. Social security/mediscare would be more solvent benefits were only paid to those who paid into it.

Illegals should not be eligible at all. If illegals knew they would not receive ANY unearned benefits in the US, they might not be so prone to cross our borders.

[tomball]

Ditto.

[adam_az]

This is going to get really, really ugly within my lifetime.

[Polyxene]

I'm with you! Just think what we could do with that money! They already have raised my retirement age to 66. When I finally do make it to 66, they will have raised it to 76! Looks like I'm going to be working until I drop dead!