The risk to those currently receiving S.S. benefits - whether retirees, disabled or survivors - is that the system collapses. This risk is currently remote. But, the risk is growing with each passing year. The risk would be removed completely if we put the federal budget onto a glide path to balance and reform the entitlement programs so as to make them actuarially sound.
Nobody is blaming those who receive S.S. benefits, federal retirees, civil servants at the state and local level, or those who have fallen into the social safety net. But, the country is in the fifth year of depressed economic conditions, the federal government is operating deeply in the red, and many of our state and local governments are in dire financial condition. During the past ten years, the average family has lost 10 percent of its income after adjustment for inflation, and the number of people below the poverty line is now the highest it has been since we starting tabulating the statistic.
The President’s answer is to raise taxes on the rich. The tax increase he refers to would, under static assumptions, cover about one-fifth of the current federal deficit. In the meantime, he proposes about a trillion a year in new spending initiatives, so that the federal deficit, already very high, would greatly increase. That is not the answer. It would put us on a glide path to Greece, when the young people as well as the wealthy are fleeing the country.
I am not happy with either the Ryan budget or the Romney economic plan. But, those are the alternatives we have at this time, to the Obama budget and economic plan.
What Obama budget? It got Zero votes, and there has been no RAT budget for over 1200 days.
...and economic plan.
Obama's economic plan is to destroy the economy and implement socialism. (Bring it all down...Man)