Neighborhood Ministries

Social Security-Liberals in Congress have an interesting view of the world when it comes to Social Security. Originally, very few elderly lived long after retirement. Most worked until they died or became disabled. With a large number of workers paying into it, and few drawing on it, it amassed a large surplus. Workers felt they could rest assured that the money would be there for them when they retired. Social Security is in trouble of going broke because liberals raided it to pay for their welfare programs. Had that money remained on deposit gathering interest, we would not be facing the question of it becoming insolvent. Liberals did not take into account changes going on in our society. More working women meant less children.  That meant more money pouring in, but it also meant fewer future workers to pay into the system. They also pushed abortion which has killed one out of every three babies conceived. Improving health has meant Seniors live longer and many are retiring at the earliest age of retirement which means they are not paying in as long but are drawing benefits longer. Without the funds from the surplus, retired Seniors are drawing benefits currently being paid in by workers. With fewer workers paying in and a growing number of retirees drawing longer, it has created the mess we now face. Liberals could help the situation by restoring the funds they took, but they feel it is more important to bribe people to vote for them with huge giveaways then to repay what they took from Seniors. Liberals feel the solution is to raise the limit on income taxed and use the increase revenue to raise benefits for those who are receiving the lowest benefits. That sounds good on paper but looks terrible when you examine the facts. There are very few at the top and the small amount raised will not be much help for the large number of people at the bottom so it is really only a token gesture. Since the new money received would go right back out, it also would not extend the life of Social Security. Conservatives would rather raise the lower age of retirement. They did it a couple times but liberals discontinued it. However, it makes sense because many people are still healthy when they retire and able to work up to 20-30 years after retirement due to improved health. My parents had a printing business and both worked for 20 years after retirement. The only reason they had to stop was because they were attacked by thieves who left them homebound. Before the attack, they were still very healthy and probably could have worked for quite a while longer. By delaying retirement, workers would pay into Social Security longer. Since the rate of death increases with age, the number of Seniors declines with age. That means that a large number of people would continue paying in, but fewer people would be drawing out and would not be drawing out as long. Those whose health did not allow them to work up to the new age of retirement could still get Social Security disability like those currently under 62.

While President Biden totes his massive spending bill (one of several) he talks about the fact that it won’t cost the average American because they will be taxing the rich and large corporations. It sounds nice but ignores basic economics. First, there aren’t enough rich to pay the price for the spending they want. Second, the rich won’t pay it. They will hide their money in tax free accounts. That will take money out of circulation which would normally be used to create new businesses and expand old ones. Next, taxing big corporations would hurt the average American because businesses would pass the cost on to the consumer (you and me) in higher prices for goods and services. That would hurt the poor, the retired, and others on fixed incomes who wouldn’t get pay raises. The less business, the less taxes coming in. Lastly, increased revenue only fuels their desire to spend more so the added money won’t pay down the debt.

It is really upsetting to see the rhetoric flying about the budget proposal. The Democrats are accusing the Republicans of refusing to give in and increase the debt limit when that is a two-way street. The Democrats aren’t giving in on cutting spending. The Democrats just want to up the debt limit so they can continue their wasteful spending. The Republicans gave in so they couldn’t be accused of shutting down the government and so we got saddled with a huge increase in spending again. It is time we call a stop to the wasteful spending and require our legislators to live within their budget like everyone else has to. Raising the debt limit will only put off the inevitable need to cut spending. The debt is getting so large it is hard to even pay the interest on it and allowing it to increase will only increase the interest. Eventually it will reach the point where we can’t pay the interest, let alone pay on the principle. It is time we demand that our law makers honor their campaign promises and cut spending. They won’t do it on their own, the American people have to demand that they do so.

President Biden just ordered a raise for federal employees. After robbing the average American by fueling inflation by pushing through massive new spending  and crippling the American energy programs, he turned around and hurt them again by pushing through huge new taxes. Now, he is rewarding the bureaucrats who already make fantastic salaries, and who are almost immune from firing due to strong unions, supported by laws enacted by liberal Democrats. The increased  cost of those raises will raise the budgets of federal agencies, however, there is nothing in the Constitution that authorizes the President to order expenditures from the treasury. The House must initiate and approve all budget items and they must be approved by the Senate. Once passed by Congress, the President has the authority to approve them or veto them, but can not change them. President Biden seems to think he can take the law into his own hands and change it at his own discretion.