In response to:

Social Security Cliff in Sight

MorningCoffee Wrote: Jan 18, 2013 9:42 AM
I disagree with means testing and here is why. Let's say that I make $75K per year and so does the guy in the office next to me. Let's say that I am fiscally responsible, save and invest all my life. The guy in the office next to me parties his away as soon as the paycheck hits the bank. At 65, I am financially sound and have the savings to at least partially support myself in retirement and to make that retirement somewhat comfortable. At 65, the guy in the office next to me has nothing saved and little to no assets. Can someone tell me why the guy in the office next to me should be able to enjoy the full extent of his income for his entire life and then retire with full SS benefits, while I sacrifice my whole life, only to get
MorningCoffee Wrote: Jan 18, 2013 9:46 AM
reduced or no SS benefits?

I've got a better idea. Raise the retirement age immediately and let everyone share in the reduction in benefits. Then let's fire all of our cowardly congressmen and senators (that's all of them).
MorningCoffee Wrote: Jan 18, 2013 10:05 AM
Wait a minute. That has to happen in the opposite order. Fire the bums first and then let the new set fix the problems.
Kibitzer Wrote: Jan 18, 2013 10:42 AM
Do you really think that a new set would address the problem, much less fix it? Politicians are politicians, and they just don't want to face reality.
MorningCoffee Wrote: Jan 18, 2013 5:43 PM
No, I don't, but it can't be any worse than the crew in there now.

But they are facing reality. The reality that if they did the right thing, they wouldn't get re-elected. What we need are politicians that don't care if they're re-elected. Go and do the right thing and then go home.
Kibitzer Wrote: Jan 18, 2013 6:30 PM
I agree, but where do we find politicians that don't care about getting re-elected?

In response to my post Making Social Security Actuarially Sound in a Business-Friendly Manner I have been exchanging emails and phone conversations with Jed Graham at Investor's Business Daily.

Jed thinks benefit cuts will happen, and I agree. However, Social Security cuts are considered the "third rail" in politics.

If you are not familiar with the term, it means anyone espousing cuts cannot be elected.

Retirees Will Outlive Trust Fund

Graham's current position on the viability of Social...