And whose fault is that? Social Security, as first conceived, was supposed to be a minimum, basic, last line of defense against total abject poverty in old age, and for the first few years of its existence, that is exactly what it was. Social Security was never meant or intended to be a substitute for a pension or savings, but as a transfer from the Federal Government to the “poor farms” where the very old or indigent were sent, and located in every county of the nation, as well as “alms-houses” in larger cities that were usually run by a non-profit organization.
The big deal was, that only a small part of the population ever lived long enough to collect Social Security, and once they had, their life expectancy was measured in months or maybe a few years. Now, routinely, we have people living well up into their 90’s or beyond, collecting from Social Security for more years than they ever spent in the workplace.
We are fast reaching a point where it is as if Social Security never existed.
It is also worth noting that, at the inception of SS, the age at which you could first get benefits was older than the average age of death at the time.
Social Security was never meant or intended to be a substitute for a pension or savings,
Well the private corporations got greedy and got rid of pensions. The savings accounts are getting less then a percent on your money and the Stock Market is good and bad depending on who you talk too. So how is it that people are supposed to have a decent retirement without SS? Social Security at least ensures that you are not homeless. I mean it is only 1300 dollars a month average. So due to the selfish companies, the horrible government and the economy that has never really been great, people who worked their lives are supposed to suffer? i guess so according to you. You could save every dime you made and put it into the Stock Market and if the timing sucks, you are in trouble.
Liberal elites couldn't ‘sell’ that today because we would know they were lying. But back then people believed... even Al Gore was pushing the ‘lock-box’ lie into our time. Liberals hate giving up lies that work...even when those lies are working as well. Guess they've got the corner on stupid voters. I digress...
You know those State programs where parents can prepay for college for their kids? How do you think those parents would feel if the State told them, “Sorry, we spent the money you prepaid for your child's education - besides - prices have gone up so you're out of luck”...
All the government has to do is give us our money back with compounded interest... and we'll just walk off with our millions - ‘cause next to the market we're getting pennies on the dollar.