#3 Social Insecurity

We are rapidly approaching a point where Social Security will become a serious danger to the economy. It has already reached the point where it causes a massive drain on our budget and presents many difficulties. So, the question is, what do we do about it?

The answer isn't truly as clearcut as we could hope. While it may seem like a reasonable proposition to simply cease the program, or tighten it's regulations on who gets how much money, this isn't something that can be done overnight, if at all. Months, years even of legislation and debating would have to take place, during which the drain on our economy would continue unstemmed. What's more, is it even right to deny retirees this money? True, it may be draining the country and making life more difficult for others, but they were promised this money and made their life choices with the knowledge that it was theirs. But at the same time, this is now our, the younger generation's money, and we are being denied it. In this economic climate, everyone is suffering, but those that are still in work lose much of their earnings to those out of it.

In my opinion, the system does need reform. The idea to increase the minimum age of retirement seems like a good one to me. While this would not solve the problem, it would require people to be more fiscally responsible and give them more time to build up their own reserve of savings. Then, if the public so chooses, we could reduce the amount of money put into and payed out by Social Security. While I support the idea of SS and in a perfect world it would allow those that have worked hard all their lives to live easier in their old age, the fact is that it is not the most practical policy at this time. Changes need to be made, whether it be increasing the retirement age, or the cap at which you can be taxed for Social Security. The idea that the rich have no responsibility to help those less well off than themselves is selfish.

#1: War Dollars
http://the-brack-blog.blogspot.com/2010/10/war-dollars-contributing-to-national.html
#2 Spending what we can afford: http://katieireneiverson.blogspot.com/2010/10/issue-2-spending-what-we-can-afford.html