Federal Budget Blog - Social Insecurity

I'm choosing to discuss "social insecurity," which is really another phrase for "social security" or the lack thereof. The Social Security system is a fund that people have been paying into since the end of the Great Depression. It is a fund that is supposed to help those Americans in need, but it has evolved to simply be a fund for retirees. An astonishing %35 of our revenue comes from Social Security payroll taxes. However, this fund is going to run out by 2039, according to some sources. It is spending more than it is earning, and is threatening the nation's economic health. Some people want the Social Security fund canceled, or at least major steps taken in order to make sure it doesn't hurt the economy. However, others are worried that drastic steps would harm people more. They'd prefer that less dramatic steps are taken, like raising the cap on earnings that can be taxed for social security. They still believe that this would still solve the problem.

I believe that the Social Security system should be overhauled, at least for a little while. We do not have the money to support everyone who is in need, unfortunately. People of my generation keep working hard to pay money into this fund, however, we're never going to see any of the money. I do believe the idea of social security is a decent one, but right now, it's corrupt. I don't think we can simply make little changes to the program, since it is so close to running completely out of money. I think the program should be cut for just a little while, and new rules should be set while the country's recovering some of the money it has lost in the last forty years. Representative Paul Ryan of Wisconsin agrees with me. http://en.wikipedia.org/wiki/Paul_Ryan_%28politician%29