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View Diary: How America Is Eating Its Young (98 comments)

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  •  I did not say that ... (0+ / 0-)

    I said that we had some of our safety net in place but the others will have even less ... yes, they are cutting everyone's but cutting more from the younger ones than from the present Boomers.  The numbers are such that they are cutting more from the younger ones by raising the eligible age and by the Chanined CPI (which cuts more as it goes).

    But then, I really am not good with numbers

    "Life without liberty is like a body without spirit. Liberty without thought is like a disturbed spirit." Kahlil Gibran, 'The Vision'

    by CorinaR on Mon Mar 18, 2013 at 11:14:20 AM PDT

    [ Parent ]

    •  Then maybe you're already retired. Obviously, (1+ / 0-)
      Recommended by:
      Aaa T Tudeattack

      that makes a major difference.  [Clearly, I don't know your status, or anyone else's here.  ;-)]

      But by far, MOST of the Boomer Generation cohort IS NOT yet retired, and if the Democrats [who are leading the charge to cut entitlements via 'the Grand Bargain'] have their way, folks 58, 60, etc., today, will also have their benefits severely cut.

      THAT IS, if they adopt the Bowles-Simpson proposal.

      Again, if you're a current retiree, you may not care about this.

      Your might want to read progressive economist Dean Baker's diaries over at FDL.  He dispels a lot of the misconceptions that I'm trying to address.  

      Here's the link to the Bowles-Simpson proposal The Moment Of Truth.

      Anyone who has not yet retired, really ought to read the chapter on Social Security Reform.  [Be sure and bring a 'crying towel with your, LOL!]

      It will be 'near' eviscerated for all but current retirees, IF all the Bowles-Simpson proposals which have been recommended are adopted and implemented.

      Even (IL) US Rep Jan Schakowsky agrees that the cuts will be deep, and very harmful to seniors.  

      Here's an excerpt and link to her Reuters Op-Ed entitled "The Sham Of Simpson-Bowles."

      . . . It has been nearly two years since the commission they chaired, which I served on, finished its work. The duo’s proposal has attained almost mythical status in Washington as the epitome of what a “grand bargain” should look like.

      But everyone look again. They will discover that it is far less than meets the eye.

      Have Simpson-Bowles’ champions read it? Given any real scrutiny, this plan falls far short of being a serious, workable or reasonable proposal – from either an economic or political analysis. . . .

      Under Simpson-Bowles, long-term solvency for Social Security is achieved mostly by cutting benefits. Seventy-five years out, the ratio of spending cuts to revenue increases is 4 to 1.

      They propose raising the age of full Social Security benefits to 69 – claiming that everyone is living longer. But a sizable percentage of Americans, mostly lower-income workers, especially women, are actually living shorter lives, and a large chunk of other Americans just can’t work that long – even if they can find a job. Their plan cuts benefits for current and future retirees by reducing the cost-of-living adjustment.

      For future retirees, all these changes taken together would reduce the average annual benefit for middle-income workers – those with annual earnings of $43,000 to $69,000 – by up to 35 percent.

      Just food for thought.  ;-)


      "If a dog won’t come to you after having looked you in the face, you should go home and examine your conscience.” -- Woodrow Wilson


      by musiccitymollie on Mon Mar 18, 2013 at 11:55:08 AM PDT

      [ Parent ]

      •  I'm going to post a video on "raising the (0+ / 0-)

        retirement" age, and it's effects during the blogathon.

        You may be interested in watching it, since an expert explains the cut.  ;-)


        "If a dog won’t come to you after having looked you in the face, you should go home and examine your conscience.” -- Woodrow Wilson


        by musiccitymollie on Mon Mar 18, 2013 at 11:59:13 AM PDT

        [ Parent ]

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