Monday, June 28, 2010

Stick it to the Pensioners

And now this from the New York Times: " This year the US Social Security will pay out more benefits than it receives. Accumulated revenues will slowly start to shrink as outlays start to exceed revenue. By law, Social Security cannot pay out more than its balance in any given year."

Just in time for the baby boomers! All those who have paid into the system all their lives cannot be guaranteed anything now that this threshold has been reached. It was expected, but not for another six years. Here in Canada, we are being warned that the CPP will be tweaked in the near future. There have already been changes such as a disincentive to take the benefit early. There are just too many elderly needing pensions for the number of workers to support the system. This mass of humanity moving through the time continuum is problematic and those of us who are of this 'boomer' age had better get used to some pretty severe discrimination in the near future. We have built the nation, but now will be seen as nothing more than a drain on the economy and health care services.  We will be done away with, at least those of us who have nobody to advocate for us and are not wealthy enough to fend for ourselves. But hey, we still have voting power and statistics prove that more of us vote than of the younger generation.   

2 comments:

Eric Vogt said...

I better not spend what I've got in my piggy bank!!!

Terry said...

You should not have spent money on a Piggy Bank!