One of the principal reasons for Social Security was to reduce the workforce by assisting and encouraging the elderly to retire. This creates opportunities for the future of the nation, allowing young families to gain employment.
As we saw, the leisure industry was expanded across the continent. Retirement villages, travel in all forms, and other economic activity grew from that during the past 60 years.
The availability of insurance, known as Medicare for the elderly and disabled, also has created an expansion in the medical field for employment in caring for and curing those who previously were warehoused in a county home or family farm.
Richard T. Tracy Sr., Mesa
Suelee posted at 8:41 am on Thu, Jul 28, 2011.
Social security also permits the chronologically gifted (aged) to contribute to society and culture in other ways. Many elders are the caregiver for grandchildren, disabled children, disabled spouses or other relatives. It would cost society billions to hire paid caregivers for these vulnerable populations within our society. Thank you grandma and grandpa.
[smile]
Accuracy posted at 8:58 am on Thu, Jul 28, 2011.
"Social Security sparks other benefits"
But come Day of debt default, August 3, 2011, you will see if President Obama’s threat to withhold Social Security payments is true. The Secretary of the Treasury and the Federal Reserve Chairman warn of the posibility of Medicare and Social Security checks canceled – salaries to soldiers unpaid – critical government functions shut down.
Cerulean posted at 11:39 am on Thu, Jul 28, 2011.
Accuracy, President Obama said that he could not guarantee that Social Security would be able to send out checks - it was not a threat. Social Security is in the hands of the House of Representatives and those who signed the Grover Norquist pledge to bankrupt America.
Accuracy posted at 2:01 pm on Thu, Jul 28, 2011.
Cerulean, President Obama is playing deficit hardball with Republicans, and has warned of dire consequences if Congress does not raise the debt ceiling limit above $14.3 trillion before Day of Debt Default, Aug. 2
"If that happens and we default," Obama said, "we would not have enough money to pay all of our bills -- bills that include monthly Social Security checks, veterans' benefits and the government contracts we've signed with thousands of businesses."
The Social Security checks are issued by the Treasury Department headed by Timothy Geithner. Even Geithner does not have the authority to not issue Social Security unless he is directed by President Obama to not issue the checks.
Obama alone will be responsible if Social Security checks are not issued starting in August.
samkat posted at 2:29 pm on Thu, Jul 28, 2011.
The idiots who want to cut those so called entitlements seem to forget that virtually every dollar of social security go back into the economy. Its too bad they don't cut the congressional and corporate entitlements dollar for dollar. That ought to cause a stir.
sockratties posted at 7:50 am on Fri, Jul 29, 2011.
Over the last 60 years (following WWII) we have changed from an agrarian to an industrial retirement population. Old folks don’t just stay on the farm anymore. Nudging up the age of qualification over time has tended to reduce the number of jobs created by retirement while creating an industry catering a reasonably affluent mobile population. It is unlikely Pres. Roosevelt saw this coming in 1935.
Social Security does not contribute to the pending economic crisis. It is, in fact, a victim. The $2.6 Trillion debt attributed to Social Security is money owed to Social Security that the U.S. Treasury siphoned off in return for IOUs. Now the FED must borrow to pay the entitlements. If the debt ceiling is not raised, they can’t borrow. Blame greedy congress and ask someone waiting for a check that won’t arrive how they feel about that F-35 Strike-Force fighter engine they’re getting instead.
Social Security recipients are not freeloaders and if congress cuts entitlements it is reneging on a contract. That won’t be a surprise if they do. Congress is only there for themselves and for their own agenda. They will say and do anything to protect their worthless butts.