No, they should change the accounting to reflect the change.

So some senators (apparently Republicans) are discussing changing the retirement age.…..Because people are living longer.

Of course, this screws with the Social Security (not like is isn’t totally fucked already….) because people who live longer get their government supplied “Pension” for a greater number of years….and the current system doesn’t allow for that.

Further ,Medicare and other health programs don’t account for the increased lifespan  and commensurate increase in spending over the lifetime of the recipient..

But change the accounting? Oh, No. Instead we should force people to work longer into their lifespan.

Why not change the accounting to reflect the change in lifespan rather than make people work longer?

 

8 thoughts on “No, they should change the accounting to reflect the change.

  1. by “change the accounting” do you mean reduce payment amounts? Same amount paid out over a longer time span. Probably both options and any others they can think of will be implemented. Easiest way to reduce the payments is to not keep up with inflation.

    • No, I mean charge more to ay for the needed when it comes due when the kids retire. Simple actuarial accounting.

    • That’s where the scam falls apart though. If they don’t pay into it, WE don’t get anything!

  2. Yeah, we’re living longer, but that doesn’t mean we can do what we were once able to do. Our “representatives” are saying “Here’s to hoping you won’t live to see a DIME of Social Security…” …Put government in charge of your retirement and force you to participate… What could POSSIBLY go wrong here?…

  3. Apparently Macron just tried that in France—changed the retirement age by fiat rather than going through the process of voting, There are riots and stuff is burning because of it.

    • yeah, but being French, they will riot, burn some garbage and a few tires, then go home and have a drink.

      The retirement age will still be extended to 64 (in france) and then everyone will forget about it. Typical French protest. Accomplishes nothing. The government doesn’t care ’cause the riots don’t actually make a difference

      Here they want to make it 70 or more. And no one has yet started to riot.
      Yet.

  4. What to do about old age is a relatively recent problem. Until a century or so ago the notion of ‘retirement’ really didn’t exist for the vast majority of people. You worked until you simply could not work and then hoped you could find a way to survive. And most people just didn’t live that long. It was one of the reasons people tried to have a lot of kids….so there would be someone they could live with in their old age. Any system like Social Security is doomed before it even begins because such schemes are ALWAYS perverted by people in charge for personal and political reasons. Also such publicly funded retirement schemes are be definition Ponzi schemes. They rely on recent investors to pay the costs of prior investors. Eventually you run out of investors. And that is what’s happening with Social Security. When it started there were more than a dozen people contributing for everyone drawing money from it. That number now is down to close to 2 workers for every recipient. A recipe for failure. Not sure what the solution will be but what cannot continue won’t. And Social Security under it’s present guise CANNOT continue.

Leave a Reply

Your email address will not be published. Required fields are marked *