Thursday, April 11, 2013
Vacation is over! It’s time to get going again. So like it or not, here it is!
…guess I just don’t get it…again! BO presented his budget (2 months…actually 9 weeks late) to congress this week. And guess what? He wants to slice Social Security payments to us old, used up citizens (http://finance.yahoo.com/news/seniors-see-smaller-social-security-095900145.html)! The young people who mostly voted for him, probably don’t give a darn as most of them figure there will be nothing there when they get there anyway! Now who’s pushing Grandma over the cliff?
My resentment for this is proposed lunacy is particularly acute because in my situation, I’ve been paying into the Social Security fund since I was 14 years old! And as a small business owner and employee of my own company for the past 24 years, I essentially pay double (employer and employee).
These cuts are proposed for this year and come at the very bad time for seniors in our economy. And as you read, the cuts increase for years to come. Since before this man was elected President, interest rates paid on savings accounts or for that matter most other investments, have been at a historic lows! Most people don’t see this part of the scenario…savings interest rates at 1% or below, particularly cripples seniors as their “investments” are mostly low risk and mostly in savings accounts and bonds which are also yielding next to nothing. One might look at this as an income penalty or tax because it’s Federal Reserve that influences and sets interest rates.
Our truly inept POTUS really shows he doesn’t understand much about this country, the economy and what it might take to fix it. As far as I’m concerned he’s an extreme Socialist of the worst kind. While he entertains himself and his supporters with White House concerts, golf weekends and rounds of basketball with a privileged few, older, retired average Americans, struggle to pay their basic costs to exist!
I’m not the sharpest knife in the economic drawer myself, but it seems pretty safe to say that cutting into most seniors’ meager income, is quite a short-sighted way to solve this problem. But of course, most seniors will be “out of the system” altogether in just a few years and their anguished cries will no longer be heard!
Guess…I just don’t get it…once again!