Over the last few years, I've written a few articles on the economic situation in the United States. I think I know what I'm talking about, because I have been laid off from six jobs over a decade or so, and I have seen the landscape in my town change, with the loss of so many companies.
The party is over! I hate to have such a pessimistic view of the things to come for the society in America, but I've always been a realist and not a dreamer. You don't have to be a rocket scientist, to look at the things around you, that will make you throw up a red flag with concern for the future in your community.
I live in Albuquerque, New Mexico, which is a sleepy one-horse town of about 500,000 population. Dozens of companies have closed and/or moved from here. My father worked and retired from General Electric for over 30 years. The plant is now closed. Other companies have moved or closed; Martin-Marietta; Motorola; Seimens; Trend Technology; Plactech; EG&G; Digital; AOL (call center/1,000 employees; Phillips SemiConductors and the list goes on. I don't know where people work anymore, and make a living wage.
The huge Intel plant on the west side of Albuquerque, at its peak, employed over 7,500 people...and has now downsized to less than 2,000 employees. I don't think Intel will be around much longer, as I think they will consolidate their businesses and move out of town.
I've written a few articles on the economic situation in the country which include;
BANKRUPTCY; The United States of America
Where Has America Gone Wrong?
Nobody That Can Save America From Itself
Will Social Security Be There For You?
Jobs Are Moving Out of the Country, STUPID!
U.S. Drowning In Red Ink!
The Great Society Could Be Coming To An End!
WAKE UP AMERICA! Credit Rating Lowered!
The biggest problem that all American's face, in my view, is a worthless Congress. The worthless Congress, will eventually lead the American taxpayers into a ditch...a ditch that nobody will never get out of.
Americans have always said, that the country is going in the wrong direction...possibly in the direction of Greece and Italy. Those two countries are probably corrupt...and there isn't anyone that is going to loan a corrupt country anything or bail them out. And, I think the American people are right...America is heading down the wrong road...the road of corruption, greed, and selfishness...and by which America will implode from the inside. For Americans...the federal government is their own worst enemy!
Between the ages of 50 to 60 years of age...I've been there...I've done that! Lost six jobs due to layoffs; homeless; stood in a soup line for over two months; suicide attempt that put me in the hospital for over 3 months; bankruptcy; lost all my possessions...etc...etc...etc....
The following newspaper article was written by Ricardo-Alonzo-Zaldivar and Stephen Ohlemacher of the Associated Press, and the article was published in the Albuquerque Journal on April 25, 2012. The piece is entitled;
"Finiancial Picture for Social Security Worsens"
"Report; Trust Funds To Run Dry in 2033"
"WASHINGTON; High energy prices and an economy that has been slow to rebound are worsening Social Security's finances, shortening the life of the trust funds that support program by three years, the government said Monday (4-24-12)
Those trust funds will now run dry in 2033, according to a report issued by the trustees that oversee the retirement and disability programs.
NOTE; A picture show along with the article is with the three trustees; Hilda Solis, Labor Secretary; Tresury Secretary Timothy Geithner; and at the podium is Secretary of Health and Human Services Kathleen Sebellus.
Medicare's hospital insurance fund is projected to run out of money in 2024, which is unchanged from last year. The trustees said Medicare spending continues to rise. Congress enacted a 2 percent cut in Medicare last year...the main reason its exhaustion dite didn't advance.
If the Social Security and Medicare funds ever become exhausted, they would collect only enough monty in payroll taxes to pay partial benefits. The trustees said in their annual report that Congress should address the programs as soon as possible, but no action is likely before the November election.
"Lawmakers should not delay addressing the long-run financial challenges facing Social Security and Medicare," the trustees wrote. "If they take action sooner rather than later, more options and more time will be available to phase in changes so that the public has adequate time to prepare."
Social Security's finances worsened in part because high energy prices suppressed wages, a trend the trustees see as continuing. The trustees said they expect workers to work fewer hours than previously projected, even after the economy recovers. This year's cost-of-living adjustment, or COLA, was also higher than expected. Good news for senious, who saw benefits increase by 3.6 percent, but it drained more resources from Social Security.
The trustees project a 1.8 percent COLA for next year, through the actual amount won't be set until October. Social Security is split into two funds...one for retirement and survivor benefits and one for disability. The retirement fund is projected to run out of money in 2033 while the disability fund is projected to run dry in 2016.
Combined, the two funds will last until 2033. If they run dry, payroll taxes would cover about 75 percent of benefits. The trustees also warned their Medicare projections could be too rosy. Based on current law, they assume cuts in payments to doctors that Congress routinely waives will occur. They also assume President Obama's health care law will squeeze the full amount of its $500 billion cuts from the program.
The average retirement benefit is $1,200 a month; the average benefit for disabled workers is $1,111."
END OF ARTICLE;
In my 67 years on the planet, I have never seen things so bad...and getting worse. I think my generation might...and that's a big MIGHT make it, but the younger generations, including the boomers...well, might not be so fortuneate.
One thing is certain, if the Amercian people don't come out of their 40 year coma...and start protesting like the Americans did in the 1960's, American's will be in the soup...without a paddle!
When It Comes To Protesting...Americans
Are a Bunch Of Candy-Asses!
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Copyright; 2012; Jerry Aragon; The Humor Doctor