For the first time, Social Security payments will shrink next year due to negative inflation, just when the American people needs it the most. Ironically, the politicians whose reckless spending brought on this snafu were all democratically elected by the average American folks. So now that crap has stroked the fan, how will this thing unfold?
“
Millions of older people face shrinking Social Security checks next year… The trustees who oversee Social Security are projecting there won't be a cost of living adjustment (COLA) for the next two years…
”(Yahoo News)
Not surprised
Many folks had anticipated this a mile away. Remember that movie IOUSA from half a year ago? I remember reading Ron Paul’s The End of Dollar Hegemony back in 2006, it explains partly the emerging American economic turmoil. Even Warren Buffet, successful trader (who made initial millions off classical arbitrage), implies that America may not viably handle existing, growing debt.
Survival
It pays to become educated in economics in this heavily finance driven society today. As retiring off social security does not appear practical anymore, the next generation of retirees must step that extra step, exploit market demands to boost income, while living within the means.
Oh, and perhaps vote for more responsible politicians, instead of some slick talking, big business advocate?
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