Unemployment Extension: Imagine When This Happens To Social SecurityBy Janet Peterson on July 22, 2010, 11:20 am Posted in Business News
Unemployment has been extended to those whose benefits ran out. This does not include those in states that offered as much as 99 weeks and were used up by the recipients. These people are now on their own. The recipients who will benefit from the extension will soon be on their own as well. The government is not interested in extending Unemployment any more. It is not the solution to the failing economy which is stalling and seems to be heading into the malaise of Japan of the 1990s.
Social Security Is In The Same Predicament
Social Security is an insurance fund. Unfortunately, the government borrows from it and puts in IOUs instead of leaving the funds where they are. In other words, Social Security is similar to Unemployment benefits in that both will be funded by printed money because the states’ Unemployment funds are gone, similar to how Social Security has become.
Raising The Age Of Retirement
A few years back the Democrats and Republicans raised the age at which full Social Security benefits could be received. Yes, it was a conspiracy among the two parties. After all, the people paid in their money and were now being denied the funds, while the government was hoping they would die before collecting their checks. The age will soon be raised again. It will become harder and harder to retire. This is the future for those heading towards their “golden years.”
A Country In Turmoil
There is not much in this country that is not decreasing in quality. All this is due to insufficient money and deficit spending. The money has been paid to banks and others in bailouts, with the rest of the population left to suffer. The government can never tighten its belt sufficiently to remedy the situation. This means we should prepare for a life of scarcity, not unlike seen in some movies where people roam the nation in search of food and survival. It will take a miracle to bring America back from the brink.