Social Security – the issue I have

So because I’m borderline 20 years old, I’ll be honest; I don’t really care about social security at this point in my life. I DO understand that potentially, I might not have the benefits from social security, and that I will have all the financial burdens on myself and my family.

However; I’m not overly concerned right now because there’s a lot of time between when I’m even getting close to the age of considering my retirement plans and now. Who knows? My retirement plans might not even come for a long time if I actually end up doing what I want to do. I could see myself working for a long time and actually enjoying the field I hope to be in.

And who knows? Like I said, a lot could change between now and the time I have to deal with the issue of social security. It is possible that social security could still be around. Social security could even become better in the span of 30-40 years. America could completely revamp its social and political systems. We really do not know!

So I can’t be worried, or buy into the hype about loss of social security policies. I know I don’t sound like the typical politically-active American University student who will do anything that has to do with the words “green”, “environment”, “Congress”, etc; that’s not even my focus.

But do not get me wrong – I am concerned about my future and my children’s future – I mean seriously, I’m in college and I have a job. I do want the best future possible. I also do care about certain political issues. But when something as vague as the American social security system is brought up to me as an “urgent issue”, I really couldn’t care less.

Call me ignorant, or you can call me complacent. Call me anything you like, but this is all “a mon avi” – in my opinion. I’ll leave it up to the rest of the world – or American University – to figure it out for me.

Love, Angie

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Social Security Lisa Weiner

There is no doubt in my mind that the social security system must be changed. If the government does not take action soon, the funds will run out by 2037. This means when our generation and future generations retire, they will not be receiving money, which we were relying on due to the contributions we have made. People who were expecting to retire will need to come up with a new retirement plan. They will have to work much longer in order to continue living the lifestyle they have become accustomed too.

The problems with Social Security and Medicare are going to continue to get worse and this why we need to address these necessary problems before it is too late. But apparently, we cannot seem to agree on any solutions. The Treasury Department has come up with three options: sell bonds to the public, raise taxes, or print more money. However, these paths do not seem to be the best choices for our society in my opinion. Each option will raise additional problems that the general population cannot afford. If the government cannot come up with another option, then I believe the government needs to let the people collect money as long as there are funds available. Money should not be collected from those people who will not benefit from their contributions. Ultimately, the social security system seemed like a good idea in 1935, but unfortunately the future of social security does not look bright.

Social Security

In 1935, President Roosevelt signed the Social Security Act, created for the fundamental purpose of protecting the people from the “dangers of modern American life.” The act was based out of fixing the soaring poverty rates of senior citizens, around 50%, during the time of the Great Depression. Thus, Franklin Roosevelt became the first president advocating for protecting the elderly. But the elderly aren’t the only people that needed and need the protection. The poor, the unemployed, widows, etc. are all various citizens that need assistance and need to be looked after. Therefore, the basis of social security was to provide benefits to retirees and the unemployed, and provide a lump sum benefit upon death. Unfortunately, since its foundation; however, the social security act has caused much controversy, and the emphasis on the good it is supposed to do has been skewed and misinterpreted. Since its creation, there have also been many loopholes and issues with the plan that need to be revisited or revised. One issue is how expensive it is, since, as taxpayers, we have to contribute with money from our own pockets to fund the program. The main concern; however, has to do with the fact that the working population has to work to pay for the benefits of current retirees– which would be fine, except that now the retired population is growing faster than the working population. The trend has reversed from what it was in the past, and now other solutions and plans will have to be put in place in order to sustain our current system.

Social Security: Of Course It’s Socialism!

When President Franklin D. Roosevelt established the Social Security Act in 1935, it was designed to help the elderly retirees survive the Great Depression.  The Act was never designed to become a fixed part of United States policy, and yet U.S. Social Security has become the largest government-spending program in the world.

Look at the numbers; national defense spending makes up 20.5% of the nation’s budget.  Healthcare, which has engulfed politicians and the public in tumultuous debates, accounts for 20.1%.  Social Security trumps them all at 20.8%, which means over $650 billion every year is spent on a program that was supposed to end before the 1940’s.

So what do we do about a program that A) Isn’t supposed to exist anymore, B) Is draining the national budget of billions of dollars, and C) Is an obviously Socialistic policy in a Capitalist economy.

Simple. Get rid of it.

Taxing American workers to pay for the care of retirees in no way follows Capitalist principles.  Conservative voters made wild charges against Barack Obama, calling him Socialist, and yet ever since FDR, and again with the establishment of Medicaid and Medicare, White House policies have been trending towards Socialism for the past 80 years.

What these trends show is that the American public either cannot take care of themselves, or that they are becoming increasingly lazy and choose to depend on the government instead.  Regardless, the net effect has been the enormous expansion of the role of government.  Social Security is a byproduct of this.

The elimination of Social Security would obviously shake things up a little.  Over 51 million Americans receive Social Security Benefits, which means these people would be stuck finding a way to pay for their own retirement plans and healthcare.  While this seems harsh and unfair, that’s exactly what the philosophy of Capitalism dictates.  Every man for himself, partnered with a diminished role of government.

So basically, suck it up America.  If you really believed in Capitalism and the freedom that it offers from government stipulations, you would make more responsible decisions with your money, save more for retirement, and take control of their financial future.

Jeff Leicy