As my Wife was headed out the door we were talking about the fact that she and I will most likely not see Social Security $$ although our parents will. We’re fine with our parents getting their share of Social Security. However, another tangent came up that I thought worthy of noting here. When Social Security is gone Welfare payments should go, too. Our reasoning: If the people in the U.S. get no Social Security assistance after paying into a system for their entire working lives why should the poor? Why should the poor, who make no contribution to the welfare system, continue to get assistance? Don’t the elderly deserve an equal share of government “hand-outs”? Why don’t welfare program have a time limit like unemployment? Maybe if we handed out a little less to the poor there would be more available for those yet to reach Social Security eligibility.
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3 Responses
Welfare does have time limits, and has since the Clinton administration.
Social Security should be solvent without any fixes until 2041 or so, and with easy fixes it should work fine for most of this century.
2041…? Just about the time I want to retire S.S. goes. Great!
2041 is without any fixes to the current system. As noted, simple fixes will extend that by decades.
More about welfare time limits here:
http://www.mdrc.org/publications/51/full.pdf