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[email protected] gfretwell@aol.com is offline
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First recorded activity by BoatBanter: Jul 2007
Posts: 36,387
Default More true than we want to believe.

On Sat, 5 Aug 2017 17:36:39 -0400, Keyser Soze wrote:

On 8/5/17 5:16 PM, Boating All Out wrote:
In article , says...

http://tinyurl.com/ydxb8j66

from the onion


Your vacation photos?


For millions of American workers who were screwed out of their pensions
by corporate creed, Social Security is all they will have left, and for
the tens of millions of American workers who will never be able to get
into the middle class or rise from it, there's little hope for a decent
retirement, even with Social Security.


Too bad it is a huge Ponzi scam that is going to blow up in less than
a decade. Both SS and MC are upside down and there does not seem to be
any plan from either side to bail it out. The "trust fund" is a
fantasy and we can't even pay back the debt we are incurring today.
That trust fund is just another line item on the debt. The fix had to
happen in the 50s and 60s and it would have involved changing the
retirement age to something more closely related to life expectancy.
Before you say it, yes I am the best example of that mistake by our
government. If I don't get hit by a bus or some other unseen calamity,
I will be retired longer than I worked. It wasn't my idea. It was all
just part of that Clinton prosperity we keep hearing about. (AKA
creative bookkeeping)

BTW most workers of the first cohort of the boomer generation are
doing just fine with their corporate pensions. It was during the
Clinton administration when the defined pension plan started
disappearing. Even so most are vested in some defined benefits.
Ah prosperity!