The importance of Social Security in 4 minutes
Posted on 13 August 2010
By Mark Miller
Permanent URL of this article: http://retirementrevised.com/money/the-importance-of-social-security-in-4-minutes
This video from the National Academy of Social Insurance may seem like a propaganda piece–and it is. But it also 100 percent accurate!
Spend four minutes and twenty-three seconds watching it to understand why Social Security must be protected and enhanced–not sacrificed in a fake discussion about deficit reduction.
August 18th, 2010 at 9:27 am
I watched the 4 minutes and 23 seconds of propaganda. It is all true in terms of the nature of what social security means to so many. Dependence on the government. It is an unsustainable, broken and bankrupt system that will continue to destroy our economy if nothing is done. The trust fund exists in yours and my checkbook and now contributes to the deficit no matter how you may want to describe the accounting tricks. This is a ponsi scheme, pure and simple that has just about run it’s course along with so many of the pension plans set up by unions both private and governmental. We are in serious trouble.
August 24th, 2010 at 10:27 am
There is no trust fund. The money collected from the paychecks of working Americans is deposited into the general fund. Congress has borrowed the excess (more contributions than payouts) all these years. Now that period of surplus is over. The huge misstatement in the video concerns young American’s attitudes. More young people believe in UFOs than believe they will ever receive SS benefits. I am age 50. I never expect to receive any SS dollars.