Did these "elite geniuses" take inflation into account? This reality, or several others, doesn't appear in your pointedly biased argument. And let's also not lose sight of the fact that it was your kind of thinking that got us into this "ponzi" scheme to begin with. The fact that the other side of your tax and spend house has eliminated jobs, given housing to people who couldn't afford it, forced many of us into unwanted early retirement, helped the lawyers jack medical costs through the roof, and all but collapsed our economy has turned our other stocks and options worthless. I think my next move will be into your house. Move over, bub.

Bruce-

Take your meds, educate yourself, and try again......everything you mentioned in your rant (including inflation) is a symptom of socialist government command economic thinking and Mr. Williams is once again exposing the policies that caused our current mess and pointing out even an even bigger mess in the future if these harmful policies are not eliminated. Did you notice that only one of the four programs mentioned in his editorial was even constitutional? Probably not, as your last comment shows you have no respect for property rights .....if you can't get your freebies you'll just take Walt's house.

This is in fact a looming crisis. But what to do?

Brad, I think Bruce's point was that we are all locked into this system. It's democrat founders knew that - and made it all but impossible to solve and therefore to repeal. Maybe he attacked the messenger.

But his comment about moving into the author's house struck me as just being cynical. That can happen when you're living in an upside down world and you're out of options.

I guess this is also applied to military retirees also

who gave 20 years or more in service to their country.

This year I was told no COLA because cost of living did not rise, and then within days government employees get a pay raise. Than S/S no COLA. I guess I am considered a freeloader. If I had just lived with

some woman long enough to father 10 kids and then left

she would be on welfare and I would be looking for another one, and I would have no responsibility at all

because I would go on welfare also.

Brad - well said.

Beyond what a person contributes and a 'normal' or average rate of return, nobody should 'expect' anything more.

Above that, its called redistribution (or I call it legal stealing). The fact that a chunk of American's believe it is 'owed' beyond that shows how far the left/socialist agenda has settled in.

I was in the SS office for the first time of my life yesterday. 95% of those waiting to be assisted were well under retirement age. Our government is raising generations of individuals relying on it to take care of them. Our Seniors are not the problem. Try visiting your local office and make some observations. Numbers do not always generate what really is happening, they are just figures. "Feed a man a fish, he eats for one day, teach a man to fish, he can eat for a lifetime."

Thanks, Stephen, for noticing. Government waste, fraud, and abuse in all 4 of these programs, including the 3 so-called entitlements, is epidemic and totally devastating. That all the money we have actually paid in over our lifetimes has been put into the general treasury is ludicrous.

I understand young people's frustration today with the cost of taking care of us in a socialist system we all hate. I hope when their time comes to live off a fixed income, they really won't be this destitute. But in spite of it all I am thankful that my own kids are thankful and respectful of the fact that I subsidized their lives for more than 20 years each and all without pity, anger or regret.

Anyone who is disabled is evidently eligible for SS. A widow with young children receives SS for them until they reach 18. The list goes on....but in the beginning, benefits went only to elderly (>65) widows of war veterans. The discovery of penicillin and other antibiotics raised the average life expectancy. Unfortunately, the largess was expanded to include all retirees and others and the age limit never increased. Business realized that younger workers were more productive and adopted 65 as the national retirement age. Some Federal jobs are not open to persons over the age of 40 and include mandatory retirement after 20 years. Some unions such as the Boilermakers encourage members to retire "early" before their quality of life is hindered by a work-related accident.

So what are you supposed to do if you want to work until you die? Think of the self-employed and the professionals (doctors, lawyers, architects, engineers, academics, judges, elected officials etc.) who love what they do and continue to work well past 65.

It looks like Slick Willie's definition of "value". It's true that today's seniors caused the problem by letting the gov't - spend their money instead of investing it, increase the size of gov't, increase inflation, and by regulation legislation and judicial interference increase the cost of medical care. But today's generation voted for more of the same. And in spades. We always voted American, but we're stuck in your world. We were self sufficient until you legislated us out of business and into limbo. Don't blame us. We are entitled. If you're broke, see your overpaid congressmen, union people, and bailed out big bus. execs. You did this to me, all I wanted was to be free.

Mugwumps - you, too, like most of us have experienced first hand the tyranny of the majority and the hijacking of our government by socialists turned communists. That seems to be the only other choice of government besides a God-fearing republic. I'm afraid we haven't seen anything, yet. Either that or another civil war that would leave very few survivors.

A man may fulfill the object of his

existence by asking a question he

cannot answer, and attempting a task

he cannot achieve.---Oliver Wendell Holmes

(1809-1894)

The problem is not SS Retirement per se, it's all the freebies received by "kid factories", who are paid to have children ie ADC, Medicade as a part of SS rather than it's own source of funds, and other pork that was added to the SS program. When will other private retirement funds be attacked by the socialist liberals?

THere is some truth to the essay. It ignores however the plight of many who paid the max tax into the system but receive a reduced benefit compared to that available had they been able to retain there money and invest it for there own retirement. In addition it should have been noted that the surplus in both programs has been mishandled. Rather than lending it to the government ususally at rates well below inflation, it should have been put into a balanced portfolio like any well managed pension fund. Had this been done the plans funds would be significantly stronger. Finally the use of the funds for welfare purposes like SSI should never have occurred.

Tom asks, "This is in fact a looming crisis. But what to do?"

The answer is simple. Turn Social Security into what is was meant to be...a "safety net" to prevent someone from falling into abject poverty at the end of their employed life, i.e., Social Insurance. We need to "means test" Social Security. If you were fiscally smart and prudent throughout your employed life and retired self sufficent, they you wouldn't get a dime out of Social Security. If you screwed up, or ran into hard times, you should be given just enough money to keep you head above water...bare subsistence. If you want more, don't ask your government for it. Go call your rich Uncle.

The real problem with Social Security is that it is a Ponzi scheme where Mr. Ponzi is able to legally force more "investors" to join the scheme. If the government couldn't force me to participate in the program, I would have opted out 20 years ago. Based on the Social Security Administration's projections of my benefits, my "return on investment" will be about 1% (this assumes I draw Social Security to age 85). When I die, my Social Security money is GONE. If I'd been able to invest my lifetime of Social Security "contributions" at an annual return of just 4%, I would be "rolling in the dough" at retirement age, and all that money would be mine, not the governments. If I died early, I could bequeath it to my family.

There is no Biblical concept of "retirement".

"6. Now we command you, brothers, in the name of our Lord Jesus Christ, that you keep away from any brother who is walking in idleness and not in accord with the tradition that you received from us. 7. For you yourselves know how you ought to imitate us, because we were not idle when we were with you, 8nor did we eat anyone’s bread without paying for it, but with toil and labor we worked night and day, that we might not be a burden to any of you. 9. It was not because we do not have that right, but to give you in ourselves an example to imitate. 10. For even when we were with you, we would give you this command: If anyone is not willing to work, let him not eat. 11. For we hear that some among you walk in idleness, not busy at work, but busybodies. 12. Now such persons we command and encourage in the Lord Jesus Christ to do their work quietly and to earn their own living.

13. As for you, brothers, do not grow weary in doing good. 14. If anyone does not obey what we say in this letter, take note of that person, and have nothing to do with him, that he may be ashamed. 15. Do not regard him as an enemy, but warn him as a brother."

2 Thessalonians 3:6-15

As a young, working and law abiding citizen, I funded my retirement by law, through Social Security and as a precaution, through personal and company sponsored investments.

As a senior, I began receiving my government sponsored “investment” which surprisingly and unfortunately, discovered it had not accumulated any wealth over the many years. And, as you plainly pointed out, time is a key factor of accumulating wealth.

But because the government “borrowed” most of my SS investment monies rather than reinvesting it wisely (if at all), I became a victim and then a pawn in a government sponsored ponzi scheme. Unfortunately, I can’t fix this but unlike you, I know that my elected representatives and only they can do so. I make no excuses for them such as “fear of seniors”.

We all know there’s not enough money but regrettably, you blame seniors for receiving proceeds from their lawful investment, not sharing their wealth and tuning out in droves (70%) to vote, and refusing to end their pensions which you call handouts.

Your opinion that seniors are callous and have disregard for the welfare of future generations is incorrect and misdirected. My daily thoughts and prayers are for my children and grandchildren and for the future of this nation.

This problem must be solved by lawmakers and administrators of Social Security, not by seniors.

Mr. Williams,

I usually like your point of view and agree with what you say, however ...

I worked, thru a series of jobs on mostly night shifts out of doors in the weather, for 43 years. I now receive SS. My (healthy) sister, who worked 3 years then claimed (conned) disability, receives less SS than I do. She condemns the government and me for not giving her more.

I served more than 4 years in the Marines. Injuries incurred about half way thru my second tour in VietNam, and just after my reenlistment, left me unable to complete a military career, and impeded my ability to progress in equal competition with other, healthy employees. The point came when I had to apply for disability. It took 12 years, many of which I lived in my car, but I was awarded 100% for service connected injuries that have limited movement for the last 38 years. These injuries left me on the short end of regular retirement savings, less than $600.00 per month total from three companies, and what I had managed to invest in 401k and corporate pensions went by the wayside over the last few years.

I don't consider SS as a handout. I paid into the fund, and if those multimillionaires who handled the fund and their bosses mis-managed it, they should be made to pay directly out of their own pocket!

I don't consider VA income as a handout. I EARN that income EVERY day when I have to fight to get out of bed in the morning. I EARN that income EVERY night when I can't sleep because of the pain and the dreams. I EARN that income EVERY night when my wife leaves my side for the safety of a separate bed so she is not injured again by my thrashing around.

The US sent me to Nam. I was and am proud that I did my duty, and I'd do it again were I able. It doesn't matter a whit to me what the individual people say today, they elected the people who sent me to war. I feel that, as any employee who suffers an on the job injury, the employer (the people) have due responsibility to pay for services rendered, and I consider my self still on their payroll.

According to the current thinking on abolishing or cutting back on government "handouts," I would lose everything. As you can guess, I don't want that to happen. I've worked too hard in too much pain for too long for too many bosses and have taken too much abuse to get what little I have for that to happen.

Please pardon my rant. There is a point when I've had enough of those who elect our "leaders" trying to wash their hands of any responsibility for what those leaders do to us. As I age I find I reach that point more quickly than I did before. Probably has something to do with the fact that my older, weaker body doesn't fight off the pain as much as it used to, too.

There's two squirrels. Both work hard at gathering nuts and they both gather the same amount. Squirrel #1, consumes all his, has nut parties, gets drunk on nut juice and falls out of the tree and injures himself, but is the hit of the forest. Squirrel # 2 minds his business, is sober-minded, and sets aside half of the nuts he collects. Both squirrels know that winter comes every year. As winter gets into full swing and squirrel #1 is getting thinner what is squirrel # 2's responsibility in this case? A secular squirrel with good sense will keep his collected nuts for him and his family and ignore squirrel # 1's self-induced fate. A christian #2 squirrel might share enough nuts to keep squirrel number one alive until next spring and chastise him to gain better sense.

But that is his choice. Now suppose #1 squirrel gets his fellow starving party squirrels together and form a squirrel government and make a law that says all nuts collected must be shared in winter with other squirrels or the nuts will be confiscated anyway by force? How can anyone say that is the right thing to do to #2 squirrel?

We seem to have a country chock full of #1 squirrels and not enough #2's. That is all this is about.

In order to live decently into older age, every one of us must work and set aside half of our income from every check for 40 years until we retire. We can not count on markets or interest or any of those things. You must store you own nuts and set your lifestyle accordingly.

we other squirrels do not owe you consumers of all you gather, anything. This is what I think Dr. Williams is saying. Whatever you did in your adult lives to get yourself destitute is YOUR fault and YOU must live with the consequences. With the exception of children, no one has a "right" to a comfortable life or any life, at other people's forced expense.

As people live longer, it takes more reserves or higher returns to receive the same benefits in retirement. Now that 1/4 of the US population is hitting retirement age and cashing out their investments and will probably live 20 years after retirement, I just wonder how they think that young people are going to keep paying SS for them to retire.

This problem will only be solved by the Federal Reserve vastly expanding the money supply to cheapen the dollar so that retirees will get paid, but the dollars won't buy much. All this happy talk about leaving this debt to our grand-children is bologna. The debt will be defaulted either out-right or by extreme inflation. The savers/bond holders will be suckers. It will directly impact those on fixed incomes when their fixed dollars buy fewer and fewer necessities of life. Check out http://danielamerman.com/.

I'll do everything in my power to opt out of paying income taxes into this silly system. I can do better on my own. See for yourself at missedfortune.com.

The third rail of American politics has bankrupted us.

The seniors will never budge on this issue. It doesn't matter that they're unfairly the recipients of a wholly inappropriate amount of government money way in excess of what they put in. The oldsters' position is the government made the rules of this game, don't cry about it now.

Well, since we can't take away a single penny of their social security, we simply pull a cap and trade tax of sorts on them. The tax starts at the age when they begin receiving social security, and it taxes their estimated non-productive carbon output. It should start out fairly low but by age 85, it should put a major dent in their social security payments, and by 95 should take the whole check.

See? You oldsters don't lose a penny of your "rightful" social security benefits so you can't complain! Everything strictly by the rules and above board.

I have very little, i dd not and ave not partied, had a great time spent every dime tat came in. I did supposrt a wife for 11 1/2 years till she died. I paid and made many doctors very wealthy which i do not resent, they did their best and deserved to be paid for ther labors. Uncle Sam did manage to take a lot of my income for one reason or another. My second wife, again, Uncle Sam somehow managed to take a lot of(at this point i was self employed) income with no return....Again, I did not party buy big house, cars, fancy things...just worked my butt off for nothing.....If I would have been allowed to invest that same money myself it would be worth a very large number, instead i will get when and if and maybe some small refund of what i paid in....which is what it really is. So work the problem....take 20% OFF EVERY GOVT PROGRAM, RETURN AL FUNDS TO THOSE WHO PAID IT IN, THOSE CUTS STARTING WITH THE WHITE HOUSE, CONGRESS IN FACT ALL EXCEPT MILITARY, CUT 20% OF EMPLOYEES OF THE GOVERNMENT....INSTEAD OF RAISING MONEYS TO RUN FOR OFFICE, 50% OF THOSE FUND ARE A FORCED DONATION TO DEBT REDUCTION...

Those of us who were born in the late twenties and early thirties had no idea what SS was when we entered the workforce, I at 12 yrs of age; we only knew this money was automaticalyy taken out of our hard earned wages. On my job I would receive my pay in a small brown envelope, small because the entire days salary was less than $1--that was a ten to twelve hour day. I was in the adult workforce as an RN for several years before I had any idea what it was, and then very little was explained to me---I realize it was my responsibility to ask questions, but it was too late wen I came to that realization. It would be impossible for me to live on my own SS, but together, my husband and I are satisfied because our final sore of supply is our faithful God.

I'am retired. I recieve Soc.Sec. I paid in ever since I entered the work force.

I have always beleived Soc.Sec. was a farce. I never agreed with it, because I felt it was a welfare system designed by the Govt. to raise money. The Soc.Sec. system is only failing because the Politicians can't keep their hands off of it!

If they left it alone, it would sustaine itself and then some. But they keep taking the surplus' and giving it away to Pork! They need to re-vamp the system, as Bush wanted to so younger people could build a better retirement than SS provides. How about a Govt. type pension that the Congress has?

They make more when they retire than they did when in office.

Welfare is when a person recieves something that they did not work for, and is given with out expense. That is not Seniors, we paid in.

My wife and I plus our employers have paid in over our life time $269,600 (end of 2008) in social security taxes and we have not withdrawn a dime. The value of this money would be much higher if it was invested elsewhere. My brother and sister died in their late 50's without seeing any return on their social security contributions. I am not looking for a handout...I am looking to get some of my money back once I retire regardless of how mush I have in other investments...I am an "Ant", not a "Grasshopper"!

I really like your style, Mr. Williams!