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Social Security is an extremely complicated program.

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Social Security Reform

They have found an answer for social security
Put them in a nursing home, no liability
Medicaid and medicare will probably have to pay
Then they'll only live a year or two and become their prey
The nursing home corporations, will get rich
And the social security payments, they can ditch
Who's powerful enough to point a finger at them
Some politicians is where it all will stem
The corporations make large contributions
Giving social security great solutions
Let's change the laws and cap health care liabilty
And hurt the care in nursing homes, supposed to be tranquilty
I guess when people get old, they don't need a voice
After all it's not their own, it's the goverments choice!

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No Comfort, No JoY (Christmas at the Social Security office)

You came into our office hopping on a wooden leg
You said if not for S.S.I. you’d surely have to beg.
I’ve bad news but there’s good news too
And this should cheer you up:

We all chipped in to buy you a tin cup, a tin cup

When you hit the streets you’ll have a new tin cup



You said you were disabled and you thought that you would die
Our team of crack physicians has determined it’s a lie.
There are lots of jobs that you can do with one leg and one eye

We regret that your claim has been denied, been denied

From the contents of your tin cup you’ll get by.


You came into our office favoring your one good knee
Your prostrate glad is swollen and you badly have to pee
Just don’t expect that you will get much sympathy from me

For we all have got problems of our own, of our own

Translated into Gaelic- Pog Mi Ohn

Notes S.S.I.= Supplemental Security Income, a government stipend program

Pog Mi Ohn = Kiss my rear (keeping it clean)

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Social Security is a family insurance program, not an investment scheme.

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Social Security, a critically important, great program which does serve as the cornerstone of support for senior citizens, now faces challenges that threaten its long-term stability and well-being. The facts are there. The facts are crystal clear.

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Social Security is a program that should be strengthened and preserved for future generations.

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Social Security is a social insurance program - it is not designed to be the same thing as a 401(k).

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We can preserve Social Security benefits for generations of Americans without privatizing this important program.

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When I look at Social Security, I consider it the most important social program in the United States, arguably the most successful program in the world.

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Germany, I think, was first to substitute a Social Security program for its elderly based on this premise, that is, that we would tax workers to pay retirement benefits for those retired.

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I am staunchly committed to ensuring the long-term solvency of Social Security and preserving full benefits for Americans who have spent their entire working lives contributing to this program.

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Social Security is not a retirement savings plan; it is a social insurance program. It's a contract that says, as a society, we will look out for you and your family when you can no longer work.

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We want to make sure that Social Security is fixed for those people who have had that promise and there's something in the future for our younger workers. And we're not about to do a welfare program.

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From the employees' standpoint, in 1935, Social Security was a big gamble. Employees would be required to participate in the program, contributing a percentage of their income for their entire adult working life.

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Funding privatized accounts with Social Security dollars would not only make the program's long term problems worse, but many believe it represents a first step toward undermining the program's fundamental goals.

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We must level with the people and explain to them that Social Security will first face funding problems in 2042 that can be fixed now with changes that do not undermine and ultimately drain from the entire program.

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Because Social Security is specifically designed to boost the retirement income of low earners with a progressive benefit formula, the program has played an enormous and necessary role in keeping Latinas out of poverty.

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We must work to stabilize Social Security. We must not gamble with our nation's social insurance program, one of our most popular and effective federal programs that has remained dependable and stable for the past 70 years.

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Specifically, I am concerned about the long-term condition of Social Security. I am committed to ensuring that current beneficiaries and those nearing retirement face no reduction in benefits, while preserving this vital program for future generations.

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Rather than squander the surplus on tax breaks for the rich, we should add a prescription drug benefit to the Medicare program, shore up Social Security, fortify our defense, provide a quality public education and offer economic assistance to rural areas.

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Social Insecurity

Strapped Seniors use credit cards ‘stead of cash
To stay afloat, after losing their stocks n’ bonds
Yet more victims of another Wall Street crash
“Let them eat cake” is what the Fed responds

ROTMS


From Reuters Article 10/23/2010
Retired and broke: Why retirees are declaring bankruptcy

For more and more seniors, retirement doesn’t mean a debt-free life of leisure. An increasing number of Americans aged 65 and older are declaring bankruptcy, according to a recent study by John Pottow, professor of law at the University of Michigan Law School.
Those aged 65 and older represented seven percent of bankruptcy filers in 2007, a mind-boggling jump from 1991. They are the “fastest-growing age demographic, ” according to Pottow’s study.
What’s the culprit for so much debt? Credit cards. Two-thirds of Americans who filed for bankruptcy said credit cards were the key reason for their financial problems, according to Pottow’s research. Besides having more credit card debt compared with younger bankruptcy filers,44.8 percent of those aged 65 and older also had more plastic in their wallets. “They’re using credit cards as a maladaptive coping mechanism, ” Pottow says.
Stephanie Osterland, a supervisor in the bankruptcy department at GreenPath debt solutions, sees an increasing number of seniors living beyond their means. Says Osterland: “They’re just trying to live off of a fixed income, and that’s usually Social Security. Maybe they have a small pension. We find they’ve used credit cards to supplement that income and expenses or they just end up getting into a lot of medical debt.”
In addition to escalating medical expenses, seniors have seen their portfolios hit hard by the lagging stock market. Carolyn Rodi of Saving Your American Dream says those considering bankruptcy should see a credit counselor at a non-profit organization to get their finances in order.
Credit counselors, such as those at GreenPath, help the elderly deal with a stressful situation. “We try to help them focus on what it’s going to look like” after they get out of debt, Osterland says.
Rodi also recommends that potential bankruptcy filers seek out pro-bono legal aid. “There are a lot of elderly people that are being taken advantage of by bankruptcy attorneys and mortgage brokers who are advising them improperly to pay for the bankruptcy, take out a reverse mortgage or to do things that aren’t in their best interest, ” she says. ”If you have no income, why should you borrow to pay someone when you can get free legal aid? ”
What are the chances of a senior paying off his or her debts? It’s difficult to determine, especially because seniors tend to be on a fixed income. And while finding a job — such as a WalMart greeter — seems like a viable option, it is not necessarily feasible for all seniors to work.
In addition, whether or not a person declares Chapter 7 (which involves the liquidation of one’s assets) or Chapter 13 (which allows debt restructuring) bankruptcy can be a significant factor in determining what one’s lifestyle will be. “If you have to file for Chapter 7 bankruptcy, you may be able to find affordable housing that allows you to just get by, ” says Rodi. “Chapter 13 lets you keep your house and doesn’t touch your retirement savings.”
Regardless, filing for bankruptcy is very stressful for anyone. “A lot of our clients in that post-retirement age have a hard time coming to grips with their situation, ” Osterland says. “It’s very emotional for them. We try to focus on the future and see if this debt can be lifted off their shoulders.”

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