Buying time? You can not buy time for social security! The surplus of $109 Billion split between OASI and DI is less than 16% of what is needed. Because we are saving too little and even if it were $700 Billion being saved for future liabilities, teh money would be nothing more than an IOU.
The question needing to be asked is "Why do I drive a beat up car so my father can buy a new one with Social Security? Why does my father take nice vacations while I scimp and save for my future? One person wrote we will have the same problem with stocks or bonds when baby boomers start to sell them to finance their retirement. What I see happening is as stocks are sold, they will be absorbed by the workers if and only if they are not paying FICA. What should happen is a transfer of owner ship of the capital to younger generations form older generations in return for liquidity. I should not have to pay 15.3% of my wage and benefit package so you can keep your stocks and bonds. It is time for retirees to have to make decisions based on their assets and not mine.
We all will eat, the only quesiton is will I eat steak or hot dogs? Will I drive a new care or a beat up one. Social Security is the "switch" that answers these questions.
Who gets all the senior discounts? Why do they get them? They have the wealth and the income as reported by Social Security. Is this not a form of descrimination? Why should some one get a 15% discount simply for being over 65? It is not based on income or need. I boycott places that give discounts or simply ask them why they do it. They can never answer the question inteligently.
