Just checked and the interest bearing accounts are paying 2-3% to SS, and that's only because the rate was set a few years back. That doesn't even keep up with inflation, and I mean actual inflation/cost of living as opposed to the gov't reported "inflation rate" which excludes so much of the actual costs of things. It's not sustainable and it's inaccurate to claim that SS is actually achieving any fund growth due to interest.
I will agree that demographics are a major player in the problems SS has. But was recognized decades ago, in fact IIRC it was recognized when the program began, but ignored. If we want it to survive, the very first thing we have to do is go to means testing. If you have a pension that would meet a certain level, you don't get SS- period. I imagine my wife and I would fall into that category. Lets start treating what SS has become as what it is- an entitlement- and accept that only certain people are going to get it. Not public employees like me, not the military, not union workers, teachers, etc. And tell all the people still working that they are going to be paying the bill and a great many of them will never see a dime of it. Explain to them that's it's their responsibility to plan for their retirement. I'd like to see the politician of any party that has the backbone to get up and say that out loud.
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Today's Featured Article - Earthmaster Project Progress Just a little update on my Earthmaster......it's back from the dead! I pulled the head, and soaked the stuck valves with mystery oil overnight, re-installed the head, and bingo, the compression returned. But alas, my carb foiled me again, it would fire a second then flood out. After numerous dead ends for a replacement carb, I went to work fixing mine.I soldered new floats on the float arm, they came from an old motorcycle carb, replaced the packing on the throttle shaft with o-rings, cut new ga
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