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Originally Posted by willravel
SS isn't dead yet, and both Obama and Clinton are interested in keeping it alive. That'll probably last you at least to 57. If we get a few liberals in office in a row, it might just last you. Still, in the interest of pragmatism it'd certainly be best to have a nest egg.
Me being 24 (the tail end of genx or the beginning of gen y?), though, means the retirement time is slightly farther off, and it's even less certain.
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My attempts to understand your statement have utterly failed. You seem to imply that the president, and no presidential candidates other than the Democratic ones are interested in maintaining the viability of SS. Only liberals can save it, apparently.
The SS "trust fund" (a gallows-humor name if there ever was one) has been raided annually for decades--that will be hard to blame on the Bush administration.
dc_dux got it right--by the time the piper comes calling, those of us who have contributed will be told that we don't "need" our money back. Of course, it won't matter, because there won't be any money to give back, since it is presently being given to many people who haven't contributed any of their earnings to it. That is an unsustainable business plan if there ever was one.
The biggest question for older Americans will be: Should they begin collecting SS as early as possible, in order to get SOME of their money back, or wait utnil such time as their payments would be maximized, and "trust the government."
I'm not expecting a dime back, and yes, I'm angry about it.