GOP Trying To Destroy Social Security?!?

President Obama yesterday suggested that the Republican Party is trying to destroy the Social Security system by advocating for changes that would radically alter how the system currently operates.

"President Barack Obama used the anniversary of Social Security to trumpet Democrats' support for the popular program and accuse Republicans of trying to destroy it.

Seventy-five years after President Franklin D. Roosevelt signed Social Security into law, Obama said in his weekly radio and Internet address Saturday: "We have an obligation to keep that promise, to safeguard Social Security for our seniors, people with disabilities and all Americans — today, tomorrow and forever."

Some Republican leaders in Congress are "pushing to make privatizing Social Security a key part of their legislative agenda if they win a majority in Congress this fall," Obama said.

He contended that such privatization was "an ill-conceived idea that would add trillions of dollars to our budget deficit while tying your benefits to the whims of Wall Street traders and the ups and downs of the stock market."

It does without saying that politicians in Washington DC, Democrats and Republicans alike, have already destroyed the Social Security program, so no additional work in that regard is necessary.

Allowing full Social Security benefits to be claimed at the relative young age 65 (as life spans have increased well beyond that in recent decades) has doomed it due to the changing demographics in the US, and making it a veritable Ponzi scheme in that younger workers are in effect forced to pay money to older, retired workers is something that the SEC is supposed to exist to crack down on. In fact, it's incredibly unfair to younger workers that they don't have the option of opting out in first place.

At least some Republicans are willing to risk their own political capital by recommending an overhaul, such as proposing privatizing social security accounts. Democrats are much less willing to go there.

"Many Democrats adamantly oppose any cut in benefits to reduce costs and some won't accept a gradual increase in the retirement age, something that was done in the last overhaul in 1983. Republicans say an increase in Social Security taxes is out of the question, even for the wealthy."

That sums up the entire problem in a nutshell. The Social Security system is in grave danger of imploding in on itself, and countless politicians lack the courage to do anything about it!