Quantcast
Feeds: Email, RSS & Twitter

Get Our Content Delivered By Email:

Search Our Extensive Library Of 5000+ Videos

 

Ratigan: Credit Rating Theater (5 Star)

Hank The Hammer Gets Hit By A Tree

Bernanke's Failed CNBC Predictions

Spitzer: " The Fed Is A Ponzi Scheme."

Get Our Stories Delivered By Email:

 

The Fed Works In Collusion w/Goldman

Rep. Kaptur Sticks An IED Inside Paulson And Then Presses 'KABOOM'

Bernanke-Grayson Lovefest On The Hill

THE FED UNDER FIRE: Must See Clip

Which $10 Trillion Dollars Are You Referring To Congressman?

*****************************************

COMEDY COLLECTION

MOST RECENT STORIES

*****************************************

What A Real Treasury Secretary Would Say To The Failed Banks: From Coach Bob Knight: "I'm Tired Of This Shit. This Is Absolute F***ing Bullshit."

32 Seconds Of Nassim Taleb Kicking Bob Rubin's Ass

Taleb: My Friend Roubini Has A Problem

My All-Time Favorite Nassim Taleb Clip

Meet The Press Salutes Walter Cronkite

Sarah Palin Is A Bailout Socialist

Paulson Is An Arsonist; He's An Outlaw

Playboy Accuses The Daily Bail Of Having Fake Boobs (True Story)

Bernanke's Replacement: Happy Hour In Santa Cruz

Slideshow: W. House Bank CEO Summit

7 Really Big Holes (Slideshow)

Jon Stewart Exposes The Goldman Sachs Bailout And Profit Mirage

William Shatner Interprets Sarah Palin

Jon Stewart Nails Lenny Dykstra

Lenny Dykstra Needs An Intervention

Must See: National Debt Road Trip

"Of Course We're Not Going To  Payback the Chinese."

George Bush Drunk At A Wedding In '92

David Walker On 60 Minutes:  Govt. Spending Will Lead To U.S. Bankruptcy

Obama's Budget For Visual Learners

Gentle Jim Rogers Annihilates Geithner

Ratigan Vs. Krakower: Leaked Audio

Ratigan's Ex-Producer Susan Krakower Is Really, Really Smart

Dr. Ron Paul: We Are Spending Ourselves Into Oblivion (Clip)

Clip: The Humor Of Reagan

After The Crash of '87: Wall Street Week With Louis Rukeyser From Oct. 1987

P.R.I.N.T. Money: That's How We're Gonna Fix The Economy

Dave Chappelle On White Collar Crime

1979 Chrysler Bailout

Bush, Frank & Pelosi Bailout Sketch SNL

Bailout Rant: 100% Not Safe For Work

Carlin: Wall Street Owns Washington

The Sherminator Destroys Mark Haines. This Is An Outstanding Clip.

Peter Schiff Gets Mugged Live On-Air

Most Recent Comments
Cartoons & Photos
Tuesday
Feb092010

« Will Baby Boomers Bankrupt Social Security? »

As the record federal budget deficit draws increasing scrutiny from Washington to Wall Street to Main Street, deficit hawks may take aim at entitlement programs including Social Security.  “We won’t have a crisis,” says Michael Astrue, commissioner of the Social Security Administration. “2037 is a long way off and there is no reason to panic, but this is a serious issue we need to resolve. Younger people tend to overreact.”

“Ever since we Gen-X/Yers began working, we've paid 12.4 percent of our earnings to Social Security,” he wrote. “In contrast, the Boomers will get a bargain. When they entered the workforce in the late 1960s, they paid only 6.5 percent of their earnings to Social Security. Only from 1990 on, when the Boomers had earned paychecks for a quarter-century, did they start paying 12.4 percent to Social Security, the same percentage we Gen-X/Yers have paid our whole lives.”  That’s why Firey dubbed it The Boomers’ Bargain: “They've paid less of their earnings into Social Security than we Gen-X/Yers, yet they'll receive more in benefits than we will and we'll pick up the tab.”

 

DateTuesday, February 9, 2010 at 12:59AM | Comment2 Comments | |

PrintView Printer Friendly Version

EmailEmail Article to Friend

Reader Comments (2)

Yes, SS is bankrupt, but you can hardly blame the baby boomers. The blame is on the government, who has mis-managed and squandered the SS fund. They couldn't stand to see all that money just sitting there, so they spent it and now it's gone and we will all suffer for it. Don't blame the people who had no ability to influence the bad decisions!
February 9, 2010 | Unregistered CommenterAnon
Ah but the mighty hand of Goobermint has been guided by the babyboomers with every election of their adult lives. Everyone knew they were raiding S.S., but they continued re electing their blessed officials anyway.

It is ironic that their sacred cow will be slaughtered by their own hand. Babyboomers have lived their entire lives as canabals, feeding on the souls of the young...
February 10, 2010 | Unregistered CommenterS. Gompers

PostPost a New Comment

Enter your information below to add a new comment.

My response is on my own website »
Author Email (optional):
Author URL (optional):
Post:
 
All HTML will be escaped. Hyperlinks will be created for URLs automatically.

Notify me of follow-up comments via email.