Social Security cheap compared with Europe's (AP barf alert)

pioneer press ^ | 8-12-12 | STEPHEN OHLEMACHER

[TurboZamboni]

WASHINGTON—Compared with most public pension systems in Europe, Social Security is downright frugal. On average, European pensions are more much generous than Social Security, providing retirees with benefits that come closer to matching the wages they earned when they were working. Americans are expected to rely more heavily on private pensions and savings when they retire.

European workers also have been able to retire earlier than American workers, though many European countries are retreating from those policies, a subject that has caused more than a little unrest.

Taxes also are higher in most European countries and some of their retirement systems are facing worse financial problems than Social Security.

[TurboZamboni]

LOL at AP.

US to backdoor Euro bailout through new IMF credit facility

http://www.examiner.com/finance-examiner-in-national/us-to-backdoor-euro-bailout-through-new-imf-credit-facility

US ($) to Play ‘Very Major Role’ In Helping Europe: Geithner

http://www.cnbc.com/id/44902075

[cranked]

Stephan, hey idiot, Social Security bankrupt and one large ass ponzi scheme, just like Europe’s.....see a correlation yet, idiot? =.=

[mountainlion]

The problem with Social Security is corrupt politicians that spent our retirement funds on their pork barrel projects to get re elected.

[eyedigress]

We left Europe 400 years ago for a reason. Let’s not revisit that crap. Who are these idiots that embrace anything Europe?

[babble-on]

Yes, let’s follow Europe’s example, it’s going so well over there.

[Billthedrill]

Hey, I'm down with that. I'm getting ready to retire in a couple of years - more free stuff for me! Woohoo! What could possibly go wrong?

Well, there's this - Europe's broke. And so are we.

[TurboZamboni]

Paul Krugman is rewriting history now that the eurozone is going down in flames

http://www.freerepublic.com/focus/f-bloggers/2808159/posts

[GOPJ]

Europe's broke - European countries won't even exist in 200 years. Socialism created cultural suicide. These folks have given up - they go on holiday, find shallow pleasures to replace children and families and they're dying out.

Only those in love with death cults would ask us to 'look to Europe;...

[chuckee]

“Paul Krugman is rewriting history now that the eurozone is going down in flames”

I cannot think of a time that Krugman was right about anything he has ever predicted economically.He comes from that school of economics that is not only wrong all the time but unsavory in the way he disingenuously lies about the false premises he presents to engineer the economic result he wants to manufacture. I stopped reading him years ago.

[DoughtyOne]

Social Security needs to be put on a diet.  New to the workforce people, should come in under a new plan that sees social security wind up at zero in 40 years, and them with far more funds than they would have had if they retired today.

40 years sounds like a long time, until you realize that we're talking about cutting outlays by 25% in ten years, 50% in 20 years, 75% in 30 years, and by 100% in 40 years.  If we were to look at actuarials, we might even be able to cut it by largers amounts at each of these benchmarks, leaving a much smaller payout on the road to 100% at forty years.


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[DoughtyOne]

http://www.ssa.gov/history/lifeexpect.html

[IronJack]

Pssssst. Europe is broke. Insolvent. Bankrupt. Doesn't seem like a great model to emulate.

many European countries are retreating from those policies

As elementary arithmetic brings home the idea that you can't spend more than you earn ...

, a subject that has caused more than a little unrest.

Because pulling parasites away from the tit is a lot tougher than enticing them TO it.

Taxes also are higher in most European countries and some of their retirement systems are facing worse financial problems than Social Security.

So let's follow them off the same cliff???? WTF????