Greenspan and Social Security

westvirginialady - 10:44am Aug 28, 2004 EST

The opinion of Alan Greenspan that something needs to be done to protect the American economy in regard to Social Security, including making us work longer to receive benefits or reducing the benefits that we are entitled to, is a frightening thought indeed for those of us near retirement age or already forced to have taken early retirement. It shows little or no respect for the millions of American citizens who have sacrificed and worked to make this country great.

We are the children of World War 11 vets, who were born after our fathers returned home and who served our country in Vietnam! Once again we will be asked to sacrifice for this nation in regard to our future! We had no choice but to contribute to Social Security. Our contributions were taken from our paychecks without our consent. We have paid into the system for decades and are now being told that we may be expected to make additional sacrifices!

The solution that Greenspan wants is not an acceptable one, as he suggests that we be made to work longer in order to receive reduced Social Security benefits. These ideas seem to be inane as they will prevent younger workers from entering into the work force while making room for older Americans to stay employed longer! What purpose will this serve? How will younger workers earn a living to support their families and prepare for their retirement if this is allowed to happen?

Greenspan does not seem to be concerned that high paying jobs in America are being lost to foreign countries and replaced with minimum wage jobs. I sometimes wonder why we put so much faith in this icon, who thinks he is God when it comes to the financial condition of America and that to punish Social Security recepients is the answer to the problem.

It seems to me that elected officials in Washington, D.C. are going to need to be taken to task in regard to this deplorable situation. They are the one's responsible for spending money from the Social Security account for things other than what is was supposed to be spent for. They are the one's who are going to be held accountable for the shortfall and the ill-effects it will have on older Americans if and when they have to tell us that our money is not there for us to live on.

Think about this for a moment. What action would the United States Government take against a bank or other financial institution if their "voluntary" depositors were suddenly told that their money was gone when they wanted to make a withdrawl? Remember the Savings and Loan scandal of recent years? Why is the government above the law and not to be held responsible if and when the money that they have "withheld" from our paychecks for decades is not available for us to use when we reach the age that makes us dependent upon it for survival? Will there be riots in the streets if and when this happens? Will we suddenly see senior citizens among the homeless and begging for scraps of food to survive? Is this what America is coming to? Remember, this situation is not the fault of Republicans only or Democrats only, but rather to BOTH political parties who's elected members have all taken part in the "robbing Peter to pay Paul" tactics over the years!

I am frightened to think about what the future holds for my husband and I and even more about the future for our children and grandchildren! Do I have a reason to be frightened? What do you think about this horrible situation?

Please read the article about Greenspan on the homepage of this site and offer your comments on the discussion board. It is time for all of us to take a stand and speak out on our own behalf in regard to this situation. If we don't band together, who can we depend on to stand up for our rights?

Thank you,
westvirginialady