I've heard for many years, "We shouldn't count on Social Security in retirement planning". I always thought that advice was very pessimistic. I never really gave it much serious consideration.<br />
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Now, I have a much different attitude.<br />
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Social Security is in trouble! I can certainly see how uncertain Social Security is given the public information that is now very much available. Recent congressional budget experts are saying today that Social Security is "sick and getting sicker". The truth is that the huge retirement program has been suffering from the effects of the struggling economy for the last several years.<br />
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I wonder "who has been watching the store"? The program could have a few okay years left, but most experts predict a permanent slide into the "red" by 2016. Oh, my gosh...that is about the time I'll be thinking about potential retirement income! Should I count on Social Security?<br />
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A very sobering non-partisan FACT: In 2011 Social Security will pay out $45 billion more in retirement, disability and survivors' benefits than it collects in payroll taxes.<br />
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Should I be comforted by the fact that Congress has promised to replenish the Social Security Trust Fund? While I appreciate the sentiment, I am awakened by the fact that they have already spent the money. The only recourse for replenishing the Social Security surplus fund will be ONE of TWO Sources: increase my taxes or cut spending (take that money and replenish the surplus).<br />
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I don't feel very comforted!<br />
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A lot of Americans, over 54 million, receive Social Security benefits, averaging $1,076 per month. We need to act on Social Security reform, NOW!<br />
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President Obama said in his State of the Union address that he wanted to find solutions to strengthen Social Security for future generations. Well, Mr. President, "Get with it!" Take a principled stand. Cut federal spending. Use that money to replenish the Social Security Trust Fund and put a LOCK on the box.<br />
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Experts tell us that the United States has never defaulted on one penny owed to a creditor. I hope the United States doesn't start with me. What I've been paying is MY money.<br />
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<i>Dr. Tom Smiley is Senior Pastor of Lakewood Baptist Church, Gainesville, Georgia. The 2400 member congregation is a vibrant Christian fellowship locally and globally. Dr. Smiley is the founder of "Life with Smiles Ministry". His messages are broadcast on WDUN 550, and his "blog" entries and thoughts on God, faith, current events, and Islam are available at http://tomsmiley.wordpress.com/. His books: "Runaway Lives: Overcoming Emotional Undercurrents", "Angels all Around", and "Uncommon Common Sense" can be ordered at his Life with Smiles website. Contact Dr. Smiley at
[email protected].</i><br />
