From Canada Free Press
Greece should be sparking more talk about how we address the runaway spending in this country, which is due in large part to the dysfunctionality of our Social Security system. Now I am not going to propose anything about cutting your Social Security benefits, which is what the Democrats scream about every time someone brings up this problem. They don’t want anyone to consider real solutions to this problem.
Greece has promised retirees more and more free stuff, and they can’t pay the bill. Why do we think it’s going to turn out any differently here?
When our Social Security system was designed in 1935, it was based on certain assumptions about life expectancy, which no longer apply today. It was also based on assumptions about what each of us would have to contribute to the system, which likewise no longer apply today.
Back then, Social Security presumed to never tax you on more than $3,000 of your income, and never at a rate of more than 3 percent. Today, it’s $100,000 of your income, and at 12.4 percent.
And because they have tried to be sneaky about increasing the rate (and Republicans have resisted that as well), you’ve now got Social Security spending on auto-pilot. Whenever someone like Rep. Paul Ryan recommends an approach to restructure Social Security, he gets presented as throwing Granny off a cliff.
Why? Because the media want you to remain ignorant – not only about how broke our system is, but also about what two countries have done to fix their systems.
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At some point other countries will not keep backing them unless they start pulling back their spending.
One can't expect that at the age of 45 to retire unless one has put aside monies to do so. One can't expect hazard pay just because you...