Tuesday, October 19, 2004

What about us?

Until just recently, I was unaware of the fact that by the time we are eligible to receive social security, there won't be any. Therefore, it is very hard to believe that the Social Security Administration has just issued an increase in Supplemental Security Income. According to Martin Crutsinger, "more than 47 million Americans receiving Social Security will get a 2.7 percent increase - an extra $25, on average." However, he did also indicate that most of the additional money will be spent on Medicare premiums. Granted, those who receive SSI will need the money to keep pace with the increasing cost of living, but what will we use when we become of age to receive social security? All of the money taken out of our paychecks is used to support the generations ahead of us. Yet, at the rate we are going, nothing will even compare to what we will need to survive. Therefore, I'm sure we can all agree that something or someone needs to be placed into action. It has been mentioned that it would be possible for social security to be set up as independent accounts with each person receiving the money deducted from his or her check. That is a great idea, but when would that be placed into effect, and who would still receive what little money is left from current social security. Those who are somewhat older will be less fortunate in that they have less time to work towards saving their social security. As for us, we have already lost part of what could have been our own. Social Security is very beneficial. However, it doesn't benefit everyone. What ever happened to equality for all? Something needs to be done in order to assure our generation that we will be taken care of. I think its great that the older generations are being taken care of, but how will we, the ones who are helping to support the older generations, survive when it comes down to our turn?

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