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What Are WYRK Listeners Thoughts On Social Security [POLL]

Can Soicial Security survive? (Getty Images)
Can Soicial Security survive? (Getty Images)

It’s getting a little scary. I saw this article from the AP that claims the Social Security well may be going dry soon.The trust funds that support Social Security will run dry in 2033 — three years earlier than previously projected — the government said Monday.This really isn’t any surprise due to the fact that the baby boomer generation is getting to the age that they will be drawing from that well very soon in large numbers.When it was set up, Social Security was with good intentions.The way I understand it, it was to intended to be a supplement to the income of the aging. I don’t think that the founders of it intended for it to be the MAIN source of wages for all people that reach 65 years old.

Social Security is rushing even faster toward insolvency, driven by retiring baby boomers, a weak economy and politicians’ reluctance to take painful action to fix the huge retirement and disability program

Since I was a kid, my farther and my older friends have been warning that what we are seeing now could happen. I think to many Americans have been led to believe that if they live long enough, the government will provide for their retirement. Wow is that a bad idea. First, I don’t trust the government to  guarantee  anything. Second, with the way things are going, we citizens may be individually responsible for paying back the HUMONGOUS loans to other countries including but not limited to China.


 

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