Seven chilling facts about retirement that should make Obama tremble

[zeeland]

http://truth-out.org/news/item/15624-seven-chilling-facts-about-retirement-in-america-that-should-make-obama-tremble-before-cutting-social-security-and-medicare


We are headed for a catastrophic retirement train wreck. A Wall Street-driven financial crisis has stripped millions of people of things like jobs, pensions and home equity that were supposed to deliver a dignified retirement after a lifetime of hard work. The crisis has also provided certain interests the opportunity to make false claims about the “unaffordability” of vital social insurance programs like Social Security and Medicare that help the 99% make it. These opportunistic “Raiders of Your Lost Retirement” do not give a hoot if you starve in your golden years – this is about money to them. American financiers hate Social Security, for example, because they want to push us toward private retirement accounts on which they can charge fees. A large swath of the wealthy does not like Social Security and Medicare because they do not like to pay taxes.
You might think Obama would be on the side of the citizens on this one. But it seems that the President will officially propose this week to cut Social Security and Medicare as part of his annual budget, despite the fact that this move would be economically irresponsible, socially disruptive and morally repugnant. Here are seven things that should make Obama tremble before he dares to announce such a betrayal of the American people.

Whatever the justification he manufactures, this cannot be what Obama wants to be historically remembered for.
I remember so very early on in his presidency when asked by an elderly woman in the audience his plans for SS.
He told her SS was relatively in good shape and she had nothing to worry about. If he carries this out it will be
the greatest betrayal of a Democratic President in history.

[tblue]

1. greatest betrayal

of a Democratic President in history.

You can say that again.

[msongs]

2. the obama family has got theirs for life, so never mind nt

[dkf]

3. Retirement funds are RECOVERING over Obama's tenure, much better than I expected.

The problem with retirement savings started way before him. Unfortunately for him people are finally starting to look around and realize they are screwed and since he is POTUS he gets the blame. That isn't fair.

[Skittles]

4. it's not just what people are realizing now

they also know no one really has their back when a so-called Democrat tosses SS and Medicare around in budget proposals (both HUGE retirement factors)

[dkf]

6. SS is as it has always been...only a portion of what you need to retire.

Moreover it's delusional to think that programs that are scheduled to use all revenue and leave almost nothing for the other functions of government will go on as is.

Lastly it's fiscal suicide to try to keep up with health care costs. We need to get costs down or this government isn't sustainable.

The numbers don't work as projected.

[Skittles]

8. ....

40 years of getting slammed financially has turned SS into more than it was supposed to be for a LOT of Americans, and now they want to cut that too. And they want to cut Medicare while doing NOTHING about the obscene, predatory profits made by private insurers. It feels like NO NONE has the backs of WE THE PEOPLE.

[dkf]

10. It's not just insurers, it's the entire health care system.

The profits made by all involved are outsized compared to every other country on the face of the planet.

Trying to keep up with these payments is insane.

[CRH]

5. Excellent article, Obama's legacy, ...

will be, he was the best Republican President ever elected by the democratic party.

Reagan, no matter how detestable to some, represented the ideology of the party that elected him. This action by Obama is nothing short of treasonous. And, to what purpose? Social Security is not in crisis, and any future concerns of solvency could be easily solved with respecting the government IOU's.

Obama's legacy will be known for two things. Progress with the largest crisis we face, climate change, has been impeded by business as usual carbon industry pandering, allowed by the Obama political machine; and second, the war against the new deal that Obama's perfidy has allowed to morph into new concepts of immanent failure of social insurances.

Obama does not represent democratic values, he represents perfidy and the corporations. He is not 'we the people', he is 'they the elite'.

Sorry for the rant, my button was pushed one time too many by our, president traitor.

[dkf]

9. The problem is really medicare.

You can't expect a program that takes in $100,000 per person and pays out $300,000 is sustainable. Those numbers are too large and the gap between payments and receipts is too wide.

[duffyduff]

11. Gutting the New Deal and Great Society and destroying public education

will be this "Democrat's" legacy.

It's a sickening legacy.

[LWolf]

7. Why would he tremble?

None of those seven are going to affect him.