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Social Security attack part two


Fri, Nov 26th, 2010
Posted in Commentary

By R.L. Sauer, MD

Politicians and political operatives who wish to fool us into thinking they're fiscally responsible or have always wanted to dismantle Social Security (SS) claim it's bankrupt and that it's also contributing to the national debt and budget deficits. Last time I tried to show not only is SS not bankrupt but it does not contribute to the national debt. It does not affect the budget at all because it is off budget. The politicians cannot fool with SS funding and SS cannot spend money that is not collected by FICA, earned in interest on bonds, or designated from income tax on SS benefits. Politicians use SS funds to lower the deficits by including it in what they call the "unified budget." An accounting trick.

Always in discussions about SS, the detractors claim SS will be a financial burden to our children and grandchildren. Nothing in the discussions concerns the benefits to your children and grandchildren of SS.

The correct name for the SS act is The Old Age and Survivors Insurance Act. The act also covers disabilities, not just of workers but also of children. Sevety percent of SS benefits go to retirees and their spouses. Nearly one in three SS checks go to workers with disabilities, child survivors of disabled workers, widows, and children who become or are disabled before the age of 18. In all, in 2005 there were 3.1 million children directly receiving SS checks and another 3.4 million living in homes where someone receives SS. Ten percent of SS disability checks are to children under the age of 18. SS is not just your grandparents' retirement income.

The National Academy of Social Insurance reports a young man has an almost 40 percent chance of either dying or becoming disabled before full SS retirement age. For women it is near 30 percent chance. Currently, a young worker with average earnings in 2007 (the latest statistics I could find) had a SS insurance protection equal to life insurance with a face value of $433,000 and a disability policy worth $414,000. Only 11 percent of workers in the lower half of the income ladder have any such insurance through their employment and probably none with this value. Most who have disability/life insurance through employment are highly skilled, highly educated, well-paid employees, not those who take a lunch pail to the factory or field.

Actuaries estimate SS lifts at least 1.3 million children out of poverty and probably a like number out of near poverty .....
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Why polarization hurts us

Mon, Nov 22nd, 2010
Posted in Commentary

By Lee H. Hamilton

By splitting control of Congress in the midterm elections, voters have handed Democrats and Republicans an opportunity to work together. Of course, the number of people in Washington who believe it will happen could fit in ..... 
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One moment, please... People buy from people

Mon, Nov 22nd, 2010
Posted in Commentary

By Jason Sethre

Publisher of the Fillmore County Journal, cell phone: 507-251-5297

In the November 15 issue of the Fillmore County Journal, there was an advertisement from Lee and Diane Bigalk, Bigalk Chevrolet Co. in Harmony, Minn.
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One moment, please... People buy from people

Sat, Nov 20th, 2010
Posted in Commentary

In the November 15 issue of the Fillmore County Journal, there was an advertisement from Lee and Diane Bigalk, Bigalk Chevrolet Co. in Harmony, Minn.

This advertisement particularly hit home with me as I read a line in their ad, "Some busine ..... 
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One moment, please... What's cookin'?

Mon, Nov 15th, 2010
Posted in Commentary

By Jason Sethre

Publisher of the Fillmore County Journal, cell phone: 507-251-5297

As Thanksgiving stares us in the eyes like a big turkey on the chopping block, we will have many good things cooking in our kitchens and on the streets ..... 
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One moment, please... My post-election analysis... let's move on

Fri, Nov 5th, 2010
Posted in Commentary

By Jason Sethre

Publisher of the Fillmore County Journal, cell phone: 507-251-5297

For those of you celebrating victories from the November 2nd election, please take a moment to sober up and move on. For those of you upset about the ou ..... 
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One Moment Please - Updates to Journal

Fri, Oct 22nd, 2010
Posted in Commentary

By Jason Sethre

Publisher of the Fillmore County Journal, cell phone: 507-251-5297

As we are continually striving to create an interactive experience for our readers, I wanted to bring everyone up to speed on a few recent enhancements ..... 
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Tea Party Anyone?

Fri, Oct 22nd, 2010
Posted in Commentary

Within a month of President Obama's Inauguration on January 20, 2009, he signed a 787 billion dollar stimulus package with virtually no Republican support. The American public was told it was necessary to do this in order to keep unemployment under ..... 
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Hype and change. Working pretty well, is it?

Fri, Oct 15th, 2010
Posted in Commentary

Let's see. James Glassman, former undersecretary of state, notes that over a 12-month period, "total U.S. economic output, adjusted for inflation, dropped at an annual rate of 3.8 percent - the worst decline since 1946. The unemployment rate, which ..... 
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