Comments on: US To Go Broke Funding Social Security for Baby Boomers

By: Dr Coles

Dr Coles — Fri, 19 Oct 2007 20:57:39 +0000

I think NOT; it's pure propaganda. The American Congress gets 15 percent of all the wages in America. 50 percent die before they can collect there paid for benefits. Who is the bad player here? It’s not the American citizen. It’s the incompetent congress.

By: William Hallowell

William Hallowell — Fri, 19 Oct 2007 05:23:20 +0000

Interesting post. These are huge burdens for the U.S. You should definitely check out Facing Up to the Nation’s Finances, a nonpartisan project that addresses the long-term challenges of the federal budget. Read our blog (http://facingup.org/blog), check out valuable resources and information and contribute. We'd love to have you contribute to our blog carnival! Feel free to contact me for more info.

By: Pier Johnson

Pier Johnson — Thu, 18 Oct 2007 17:56:29 +0000

Dr Coles Says:

Excuse me but American citizens have paid into Social Security all their working lives.

Mr. Coles, your thinking is WRONG, flawed.

Americans paid a dedicated Flat Tax against wages and the pool of this tax collection went into the Sinking Fund known as OASDI.

Really, you should either learn how your government works or drop the rheotrical ploy -- this bogus mantra of "but we paid into it."

By: Dr Coles

Dr Coles — Wed, 17 Oct 2007 19:16:16 +0000

Excuse me but American citizens have paid into Social Security all their working lives. Congress gets 15 percent of all the wages in America. 50 percent die before they can collect there paid for benefits. Who is the bad player here? It’s not the American citizen. It’s the incompetent congress. No, matter your political party affiliation, and setting aside your thoughts on issues. We all need to remember what it is to be an American Citizen. We need to make sure our elected representatives obey their Oath of Office and keep their Oath of Allegiance. See http://tinyurl.com/2znnvl Know whom you are voting for.

By: jack

jack — Wed, 17 Oct 2007 07:30:22 +0000

Social security for the elderly only encourages moral hazard. Who is going to save for their retirement, when the government says you will be looked after when you are retired? This is one of the reasons that the west consume so much.

The day of reckoning will come one day.

By: Alan

Alan — Wed, 17 Oct 2007 07:27:04 +0000

And it gets worse.....Retirees don't spend as much(in real terms anyway).With or without the credit crunch,peak spending is soon to pass.The boomers are about to bust.But,lest we forget-the generation that will probably be condemned brought the amazing sixties,and then innovated lives and businesses through to the present.They are just getting old..