Bush's plan is a betrayal of trust. I saw my grandparents and parents retire on Social Security. Now that my peer group is closing in on retirement, Bush wants to renege on this guarantee for political gain.
Social Security is a crucial part of retirement income for women because we live longer, are paid less and are less likely to have any other kind of retirement savings. It is the sole retirement for the poor. How can those existing on minimum wage afford to save anything? Without Social Security, more than half of all elderly women would live in poverty. Wouldn't all of our lives be different if we had to cover our parents' retirements? Over 5 million children currently receive Social Security benefits. I remember a friend of mine who was able to attend college after her father died unexpectedly because of Social Security.
Social Security is not in any trouble now because payroll taxes are higher than benefits paid out. Funds are adequate until 2052, and even then they are 81% of what will be needed. We already went through this exercise of "saving Social Security" during the Reagan years. That is when the payroll deductions and retirement ages went up. But the media is hyping this. It is such a boost to brokers.
Somewhere in this last election we got lost in the wrong quantum universe where Bush was elected. We should be living in the reality-based world where if you are an awful president you're fired. I hope that the split off part of me residing in Kerry's America is having a calmer and more rational existence. Here we are dealing with all the worst things that we said would come to pass.
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