GET REAL-SOCIAL SECURITY IS AS BANKRUPT AS UNCLE SAM FOR EVERGREEN COLORADO REAL ESTATE RETIREES
The financial news outlets are buzzing with the latest reports on the solvency of the Social Security system. The projections of when the SSI fund will run out have been moved up three years to somewhere around 2034; but much will depend on income from lowering payroll tax income, and benefits paid out to recipients.
Congress has also decreased the payroll taxes to help stimulate the economy; another foolish move supported by both republicans and democrats. Disability payments have also risen as people who were laid of in the recession applied for disability instead. Higher cost of living increase are sure to help deplete the fund because inflation has risen to 13% since the Fed has eviscerated the value of the dollar.
When the fund runs out benefits will be reduced to balance the SSI accounts-many seniors will themselves go bankrupt without their Social Security check every month. Statistics show that almost all Americans, with both upper and lower incomes, do not have enough money to retire without Social Security. Social Security has become the foundation for most American’s financial planning portfolio. U.S. taxpayers believe that Social Security is an annuity that they have earned, having paid into to the program all of their working life.
But it is time to get real about the truth concerning Social Security; it is as bankrupt as the Federal Government. All the money in the fund has been stolen by Congress and the President. All the fund contains is an IOU from a bankrupt, destitute Federal Government. The only way for it to survive is to curtail the flagrant spending of all governments and focus the tax income intently on making the program solvent again.
Increasing the payroll tax will be unavoidable. The younger generation will be subjugated to the onerous burden of supporting the older generation with no benefit to themselves whatsoever. They will be enslaved by the politicians who squandered away the trust fund accumulated by the Baby Boomer generation. Neither the republican nor the democratic candidates seem to have a clue what to do about the pending collapse of the Social Security System. It would appear that Federal Bankruptcy is contagious: for seniors it will be bankruptcy all around.
The country is pessimistic about the future and there is little hope without major changes in the way America does business. Contact us for a no obligation consultation. There are many things You can do right now to secure Your lifetime financial wealth. We are MARK ENGLISH REAL ESTATE. We are the one stop shop for all your EVERGREEN COLORADO REAL ESTATE and CONIFER COLORADO REAL ESTATE needs. Contact us at 303-674-0148, Email us at markenglishrealestate@msn.com or visit us on the web at www.evergreencoloradoliving.com. Don’t forget to register for your free home buyers rewards.
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