Saw bits of the President's speech yesterday. For me, the high point was when, for the first time, a sitting president admitted that Social Security be broken – an obvious fact that anyone with half a brain and an elementary grasp of mathematics can discern. I was amused that the Democrats – who probably regard SS as "their invention" – sat in stone-faced silence.
The low points were relatively minor.
- After years of record prices and profits, the president – a Texan Oilman himself – talked about alternative fuel. Time will see whether this talk graduates into action, but I suspect not.
- At last! Proof that no Texan can pronounce the word "Nuclear"
Returning to SS, one thing that irked me was that the President talked as if it was the responsibility of the workers to pay for the retirees; it is not. In theory, each of us is making deposits into their SS "trust fund", putting money aside for our old age – that is why our SS contributions are separate from other taxes.
In theory. In practice, the government has pillaged the trust fund – and has been doing so for decades.
Let me sum up with a few words of advice that were furnished to me in 1989.
Do not assume that the Government is going to give you ANYTHING when you get old