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It all trickles downhill. The Avalanch has begun

Discussion in 'Off Topic' started by U201491, Oct 26, 2013.

  1. U201491

    U201491 Well-Known Member

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    America is being openly Raped
    Seniors Going Back To Work to Salvage Their Retirement Nest Eggs, Says AMAC - AMAC, Inc.

    Seniors Going Back To Work to Salvage Their Retirement Nest Eggs, Says AMAC
    Posted 10/25/2013 | AMAC Authors, Press Releases

    WASHINGTON, DC, Oct 25 – Seniors who went back to work after retirement used to do it to keep busy, but the Obama Recession and the uncertainties of the Affordable Care Act have made it an economic necessity for more and more older Americans, according to Dan Weber, president of the Association of Mature American Citizens.

    “Two recent Gallup surveys show that there are more post-retirement job seekers out there than ever before, mainly because they’ve lost confidence in the economy. The historically destructive recession that started as the president took office and his inability to speed up the recovery have seniors scrambling for ways to salvage what’s left of their retirement. Bear in mind that while the net worth of all Americans has declined sharply during this period, seniors have been hardest hit.”

    In one study released a few days ago, Gallup concluded that “Americans’ biggest financial concern is funding their retirement, with 61% worried about having enough money for that. This worry has been exacerbated by the recession’s aftermath, which has perhaps caused more seniors and baby boomers near retirement age to remain in the workforce and postpone retirement until they have replenished their nest eggs.”

    Gallup also reported that confidence in the U.S. economy is hovering at lowest levels in five years and that its Standard of Living Index is down to discouraging levels, Weber noted.

    The debut of Obamacare, he said, has been an unmitigated disaster and that while there may be fixes for the innumerable so-called glitches in its technological architecture, more substantial troubles may lie ahead.

    “News coverage has put a spotlight on the fundamental flaws of the law. For example, people are finding out that their health insurance premiums are increasing faster and higher than anticipated. They are also discovering that deductibles are going to be super high. But, most important, the law is already having a negative impact on the job market—with employers opting for part time workers to avoid staggering new health insurance costs.”

    Weber cited yesterday’s New York Times, one of the most liberal newspapers in the nation, which headlined its front page coverage with this banner: Health Care Law Fails to Lower Prices for Rural Areas. The story noted that: “As technical failures bedevil the rollout of President Obama’s health care law, evidence is emerging that one of the program’s loftiest goals — to encourage competition among insurers in an effort to keep costs low — is falling short for many rural Americans.” It went on to note: “rural areas and small towns have far fewer carriers offering plans in the law’s online exchanges. Those places, many of them poor, are being asked to choose from some of the highest-priced plans in the 34 states where the federal government is running the health insurance marketplaces.”
     
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  2. jbett98

    jbett98 NW Oregon Bronze Supporter Bronze Supporter

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    My retirement plan is a massive heart attack.
     
  3. Burt Gummer

    Burt Gummer Portland Completely Out of Ammo

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    Jbett - LOL!

    Yeah you just have to have a sense of humor over all of it.

    A buddy and I went out for beers today and he's owned a remodeling company for 20 years. He told me his work was slower and less profitable than ever before but he sees on TV every night that the economy is in recovery.

    I said get used to the corporate/gov news lying and misleading pal! It is in the best interests of the corporate media, no matter how bad it gets, to portray everything as 'getting better.'

    Anyone willing and foolish enough to depend on the system or an IRA to see them through their retirement is an idiot at this point.

    To wit:

    1. What can you say about a nation that has more people getting handouts from the federal government than working full-time? According to the latest numbers from the U.S. Census Bureau, the number of people receiving means-tested welfare benefits is greater than the number of full-time workers in the United States.

    2. New numbers have just been released, and they show that the number of public school students in this country that are homeless is at an all-time record high. It is hard to believe, but right now 1.2 million students that attend public schools in America are homeless. That number has risen by 72 percent since the start of the last recession.

    3. When I was growing up, it seemed like almost everyone was from a middle class home. But now that has all changed. One recent study discovered that nearly half of all public students in the United States come from low income homes.

    4. How can anyone deny that we are a socialist nation when half the people are getting money from the federal government each month? According to the most recent numbers from the U.S. Census Bureau, 49.2 percent of all Americans are receiving benefits from at least one government program.

    5. Signs of increasing poverty are even showing up in the wealthiest areas of the nation. According to the New York Post, New York subways are being "overrun with homeless".

    6. According to the U.S. Census Bureau, approximately one out of every six Americans is now living in poverty. The number of Americans living in poverty is now at a level not seen since the 1960s.

    7. The gap between the rich and the poor in the United States is at an all-time record high. The wealthy may not consider this to be much of a problem, but those at the other end of the spectrum are very aware of this.

    8. The "working poor" is one of the fastest growing segments of the U.S. population. At this point, approximately one out of every four part-time workers in America is living below the poverty line.

    9. According to numbers provided by Wal-Mart, more than half of their hourly workers make less than $25,000 a year.

    10. A recent Businessweek article mentioned a study that discovered that 300 employees at one Wal-Mart in Wisconsin receive a combined total of nearly a million dollars a year in public assistance...

    “A decent wage is their demand—a livable wage, of all things,” said Representative George Miller (D-Calif.). The problem with companies like Wal-Mart is their “unwillingness, not their inability, to pay that wage,” he said. “They hand off the difference to taxpayers.” Miller was referring to a congressional report (PDF) released in May that calculated how much Walmart workers rely on public assistance. The study found that the 300 employees at one Supercenter in Wisconsin required some $900,000 worth of public assistance a year.

    11. The stock market may be doing great (for the moment), but incomes for average Americans continue to decline. In fact, median household income in the United States has fallen for five years in a row.

    12. The quality of the jobs in America has been steadily dropping for years. At this point, one out of every four American workers has a job that pays $10 an hour or less.

    13. According to a Gallup poll that was recently released, 20.0% of all Americans did not have enough money to buy food that they or their families needed at some point over the past year. That is just under the record of 20.4% that was set back in November 2008.

    14. Young adults are particularly feeling the sting of poverty these days. American families that have a head of household that is under the age of 30 have a poverty rate of 37 percent.

    15. As I wrote about a few weeks ago, one out of every five households in the United States is on food stamps. Back in the 1970s, about one out of every 50 Americans was on food stamps.

    16. The number of Americans on food stamps now exceeds the entire population of Spain.

    17. According to one calculation, the number of Americans on food stamps now exceeds the combined populations of "Alaska, Arkansas, Connecticut, Delaware, District of Columbia, Hawaii, Idaho, Iowa, Kansas, Maine, Mississippi, Montana, Nebraska, Nevada, New Hampshire, New Mexico, North Dakota, Oklahoma, Oregon, Rhode Island, South Dakota, Utah, Vermont, West Virginia, and Wyoming."

    18. We are told that we live in the "wealthiest nation" on the planet, and yet more than one out of every four children in the United States is enrolled in the food stamp program.

    19. The average food stamp benefit breaks down to approximately $4 per person per day.

    20. It is being projected that approximately 50 percent of all U.S. children will be on food stamps before they reach the age of 18.

    21. Today, approximately 17 million children in the United States are facing food insecurity. In other words, that means that "one in four children in the country is living without consistent access to enough nutritious food to live a healthy life."

    22. It may be hard to believe, but approximately 57 percent of all children in the United States are currently living in homes that are considered to be either "low income" or impoverished.

    23. The number of children living on $2.00 a day or less in the United States has grown to 2.8 million. That number has increased by 130 percent since 1996.

    24. In Miami, 45 percent of all children are living in poverty.

    25. In Cleveland, more than 50 percent of all children are living in poverty.

    26. According to a recently released report, 60 percent of all children in the city of Detroit are living in poverty.

    27. According to a Feeding America hunger study, more than 37 million Americans are now being served by food pantries and soup kitchens.

    28. The U.S. government has spent an astounding 3.7 trillion dollars on welfare programs over the past five years.

    29. It has been reported that 4 out of every 5 adults in the United States "struggle with joblessness, near-poverty or reliance on welfare for at least parts of their lives".

    These poverty numbers keep getting worse year after year no matter what our politicians do.

    So is there anyone out there that would still like to argue that we are in an "economic recovery"?

    The Economic Collapse
     
  4. Blitzkrieg

    Blitzkrieg WA Well-Known Member

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    All we need now is for obongo to take up the fiddle
     
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  5. coyoteman5

    coyoteman5 North south east west Active Member

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    He might have already taken it up, its just behind closed doors for now.
     
  6. 308

    308 ΜOΛΩΝ ΛΑΒΕ ΜOΛΩΝ ΛΑΒΕ Platinum Supporter Silver Supporter

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    0b0ng0's already taken up the fiddle...it's his pet name for Larry Sinclairs love tool
     
  7. PX4WA

    PX4WA Tacoma, WA Active Member

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    so what is the solution? give handouts to seniors so they don't have to go back to work? isn't that what social security already is?

    the real problem is a lot of people splurged during the years of the housing boom... seniors cashed in their equity and their spending habits changed when they looked at their portfolio double and their home appreciate 2-3x what they paid for it...

    then when the recession hit, they used credit to slow down the return to their pre-boom lifestyle..

    seniors are running out of money because they are living longer than they planned for and they always assumed social security and medicare would take care of all their needs...

    in other countries, it is the children's responsibility to take care of their parents until they die... unfortunately here, the family structure is so loose, that is never going to happen... also parents don't invest as much in their children's future so their children don't feel any obligation to care for them when they are old..

    I agree with the posts above, but I just don't see what can be done to fix it...

    don't want to sound callus, but this is just another version of welfare/socialism if we were to bail out the seniors by increasing their social security benefits or extending medicare to an earlier age..
     
  8. DMax

    DMax Yamhill Well-Known Member

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    Seniors are running out of money cause the fed under obammy control has interest rates at ZERO no gains on fixed income period.
     
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  9. U201491

    U201491 Well-Known Member

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    And I work 3 days a week in my retirement and will til I drop dead because 4 CEO's decided they needed my retirement money worse than I did. A loss of approx 1.5 mil equivalent today. No possibility of recovery.
    their mid 6 digit incomes were not enough for them.
    _uck em I will survive anyway. They all got busted and never did a days time. Just a piddly fine.
    SS and work is our retirement. Why the hell not, we sure paid into it long enough.
    Never drew a days unemployment in my life.
    VA covers my Medical along with the Medicare. We earned that too.
    Fortunately we are both healthy as oxen. SO far.
     
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  10. Black Dog

    Black Dog Eagle Creek Or Active Member

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    Boy some people really have there head where the SUN DON"T SHINE. If you think S.S. is a hand out why are you paying into every month out of your pay check. I paid into it for 40 years it's my money they are giving back to at one hell of a lower rate then I could have made myself with it. I the 70's the Demo craps voted to use S.S. to pay down the National debt with the promise to pay it back they are still stealing from it and have never paid any of it back.
     
  11. PX4WA

    PX4WA Tacoma, WA Active Member

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    Do the math... the money you put in has no relation to the money you get out...

    This argument that you're just getting your money back has been proven untrue over and over...

    Your benefits are supported by my contributions.. if it became optional and every one currently working opted out... the fund will run dry

    So get your head or of your shadow and learn for yourself...
     
  12. Mephistopheles

    Mephistopheles Lane County, OR Bronze Supporter Bronze Supporter

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    Which means SS is a Ponzi Scheme
     
  13. PX4WA

    PX4WA Tacoma, WA Active Member

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    The biggest and longest running generational theft scam in history...

    I for one don't expect to see a penny of my contributions back...
     
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  14. Chee-to

    Chee-to Oregon Well-Known Member

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    Your benefits will supported by my kids contributions.
     
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  15. Blitzkrieg

    Blitzkrieg WA Well-Known Member

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    With a failing economy, increasing poverty classes and stagnant/falling birthrate amongst the most productive citizens ?
     
  16. Barefoot343

    Barefoot343 liberalville Active Member

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    I really wish you were right, where will your kids work to do that? there are NO jobs being created. What will they contribute?
     
  17. Black Dog

    Black Dog Eagle Creek Or Active Member

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    Like I said some people need to see the SUN SHINE. You really need to read what you wrote?


    The government is now referring to our Social Security checks as a Federal Benefit Payment.

    This isn't a benefit it. It is earned income! Not only did we all contribute to Social Security but our employers did too.

    It totaled 15% of our income before taxes .

    If you averaged $30K per year over your working life, that's close to $180,000 Invested in Social Security .

    If you calculate the future value of your monthly investment in social security( $375/month, including both your and your employers contributions) at a meager 1% Interest rate Compounded monthly, after 40 years of working you'd have more than $1.3+ million dollars saved!

    This is your personal investment . Upon retirement, if you took out only 3% per year , you'd receive $39,318 per year, or $3,277 per month .

    That's almost three times more than today's average Social Security benefit of $1,230 per month,according to the Social Security Administration

    (Google it - its a fact).

    And your retirement fund would last more than 33 years (until you're 98 if you
    retire at age 65)! I can only imagine how much better most average-income people
    could live in retirement if our government had just invested our money in low-risk
    interest-earning accounts .
     
  18. PX4WA

    PX4WA Tacoma, WA Active Member

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    your statements are actually true if only if it was setup as a real investment fund from the get go with no guaranteed benefits but benefits based on how the fund is earning money...

    sadly, a long time ago, this money became a ponzi scheme and new money coming in is being used to pay current benefits instead of being used as an investment fund...

    so bottom line, the govt steals your money.... then somewhere later hands it back to you as an entitlement fund...

    so it's not your money anymore... and the govt gives you back whatever it wants with no relationship to how your money performed or what amount you actually put in...

    for a lot of us, we will put in far more than we will get... and our contributions are paying for your current benefits...

    so although you may feel it is due to you because you put in that much... realize that your actual contributions are long gone... and your money you are getting back is not really yours but being taken from the younger generation...

    it may seem like splitting hairs, but that is the reality of the current setup... call it what it is... it is not earned income...

    it's like saying somebody stole from you so it's ok to steal from somebody else... and the govt acts as the middleman...