Thursday, June 21, 2007

The Fiscal Wake-Up Tour

The Washington Post reports that fed up with Washington's paralysis on the issue, the government's chief auditor, David M. Walker, along with analysts from three ideologically diverse think tanks, is venturing beyond the Beltway to explain the issue of the problem is the skyrocketing cost of government health-care and retirement benefits. By most estimates, they will break the national bank as the baby boom generation retires. they are taking their message to voters. Their goal is to generate enough grass-roots anger to force the 2008 presidential candidates to discuss the problem.

I have talked about this in the past and the bus is coming whether you put your head in a man hole or not, you will still get hit by the bus! The social programs instituted in the past are going to come back to bite us in the backside. Medicare and social security are going to hit us hard when the baby boomers come of age. Either your taxes are going to double or we have to act now to fix the problem. As for social security we need to put the taxes into a private retirement account that the person cannot touch for at least 20 years. Right now you can put the money in Emigrant Direct and get 5.25% interest. You are lucky to get 1.5% from social security ASSuMEing you live long enough to get ANYTHING from social security. If you are someone who makes his or her, living by doing physical labor you don't want to be forced to work until you are 65 years old! With a private retirement account you can look at the money you have accrued and make a decision to retire in 20 years if you like.

I have to be honest, I don't really have a plan to fix medicare. But, people should have their own insurance and I would like to find a way to make that happen for people without socializing medicine, which medicare is. I also think people should take care of their own parents. Families should be responsible for their own elderly, it should not be our collective responsibility. It is not the government's job to take care of all our needs. This is why there are churches, charities and communities. Actually, it is not the Federal Government's job to provide for any of our needs. We have got to go back to self reliance, self responsibility, family and community.