Here's a statement of the obvious: The opinions expressed here are those of the participants, not those of the Mutual Fund Observer. We cannot vouch for the accuracy or appropriateness of any of it, though we do encourage civility and good humor.
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Planning for the demise of Social Security anyone?
Don’t say it can’t happen after the last month. If they can cut military spending 8 % a year anything is possible…. If you are retired are you reviewing your withdrawal rate and asset allocation? Our withdrawal rate since we swallowed the anchor is zero so the loss of our government benefit would change things drastically.
I think they will bump up the SS retirement eligibility age to 65 from 62 etc... That will be their fix and to avoid the wraith of the current recipients.
A fix would be welcome to deal with a challenging demographic situation. Getting doged is what I am concerned about. Tax cuts for the really wealthy won’t come cheap and bigger deficits are a hard sell to the hard right.. no target for cutting will be spared
Per projections from last year, interesting to note that after Social Security (#1), net INTEREST expense follows at #2. This is followed by National Defense at #3.
The elephant in the room is the DEBT.
"Spending on interest is ...more than all the money spent this year on veterans, education, and transportation combined. "
Yes, quite right. We are screwed. Holding my breath, the next two years, and hoping that enough US voters can grow some intelligence between now and then, and turn away from the Orange Lying POS.
I “plan” every day by staying physically fit in case I need to return to the work force at some future time. In the event his high tax policies (a tariff here, a tariff there) throw us into a 30s style depression, I think I could hold up well in a soup-line. Off to the gym right now.
Comments
Lets hope that 48 can clean up the debacle that is the 47th term. At least, clean up whatever is left.
Per projections from last year, interesting to note that after Social Security (#1), net INTEREST expense follows at #2. This is followed by National Defense at #3.
The elephant in the room is the DEBT.
"Spending on interest is ...more than all the money spent this year on veterans, education, and transportation combined. "