Social Security

Tough Times for Baby Boomers


I have a confession to make: I'm what you call a 'baby-boomer'. That's what you are if you were born between the end of WWII and 1964. Of course there are different categories -- I personally am what's called a 'late boomer' but apparently assumptions are made for all of us. That said, WP has an interesting (and I would say distressing) piece titled "Millions of Baby Boomers are Getting Caught in the Country’s Broken Retirement System" (link).

Basically it relates problems that -- what I would call 'early' -- boomers are having surviving financially. The 401k accounts haven't worked out. People are losing their jobs and are being forced to cash out on their savings, etc. They’re taking Social Security early resultIng in far lower monthly payments. The key take-away is that things are hardly sugar-coated and if anything, they don't look like they'll be getting any better.

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The "Pension Reform" Scam


"Pension Reform", "Pension Reform" -- that's what they're always saying. We hear it in the media; we hear it from the GOP. Hell, we even hear it from a few centrists Dems. The problem is that "Pension Reform" is nothing but a semantic cover-up. What the people using it really mean, is "Pension Cut", "Pension Cut" -- since that's what they'll really proposing. It's just that none of them are honest enough to admit it.

Posted By leo read more
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