Perhaps I should call this post “Social Security for Dummies”, but I think that series-title is probably copyrighted.

I’ve known for a long time that the Social Security system was seriously flawed. I’ve known, too, that my benefits were tenuous at best, and could actually be non-existent by the time I’m old enough to collect (in about 20 years). But I’ve never seen it explained as well as it is here. An excerpt:

One of the great ironies is that politicians are now advocating that we start paying prescription drug benefits. The short-term effect is that people that are currently collecting will live longer as a result of this benefit–that’s the good news. But the long term impact, is that the amount paid out in benefits will increase (to cover the cost of the medicines), which will mean that Social Security deductions (currently 7.5% to the individual and the employer) will need to increase to cover the cost. Basically, our parents and grandparents who want prescription drug benefits so they can live longer and better (collecting Social Security for more and more years), are asking you to pay for it. Can you afford it? If they need the money from us, why don’t they ask US for the money, rather than force us to pay for it through taxation? Do they suspect, perhaps, that we cannot afford to pay it and they’d rather perpetuate the fiction that the benefit is being paid to them by someone besides their own children and grandchildren? The idea that Granny is robbing the piggy bank of her grandkids doesn’t sound so good–much better that we get the money from “the government.” WE ARE THE GOVERNMENT! Tell Granny the truth–she is collecting WELFARE because her generation allowed this ponzi scheme to exist and has passed along the nightmare to us.


After you read it, write your congress critters and tell them that you want something done, and that NOW is not soon enough.