Let's say your monthly check is a very modest $500. How much money would you have to have stashed away to earn you that amount and retain it's value to keep the checks coming? At today's 0.9% give or take "secure investment rate" including bank CD, IRA. US Savings Bonds it would take a bundle. To support my current share I would have had to be a millionaire!".
Take Medicare, a government sponsored "insurance company" that you pay premiums for, and paid into while working.....My cancer in 2013, list price was $150,000. One shot, to prevent infection after a chemo when all your white blood cells were dead, listed for $10,000.
Thanks to medicare and their bargaining power at the negotiating table with medical suppliers, and the employer for whom I worked and supplied me with retirement benefits, my out of pocket expense was $1750. How much would I have to have earned and stashed away in my IRA to pay that bill and still keep that $500 or whatever is my current monthly check is, coming without loss or reduction.
Question for you: If the Government wasn't borrowing out of the separate SS account to pay it's bills, who would borrow the massive SS stockpile and pay the interest that gets accumulated to grow the account while simultaneously paying out claims? Nobody!
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Today's Featured Article - Grain Threshing in the Early 40's - by Pat Browning. The setting is rural Wisconsin, halfway between East Troy and Elkhorn, on Hodunk Road, our nation was at war, and I was 6, 7 and 8 years old. George was our "threshing neighbor." He was the one with the threshing machine, a JI Case on steel wheels, and he pulled it to our farm with a JI Case standard tractor also on steel. In those days, steel wheeled implements were common. The roads were general gravel, so the lugs cutting into them wasn't a problem. George would set up the thresher, s
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