Business & Investment

Opinion: We are losing the social security propaganda war

That’s a good rule: soften your enemies with propaganda before you start the war. Convince them that they have already lost before the first shot is fired.

If they find resistance useless, they may not even be able to fight.

With that in mind, here’s more evidence that the campaign to give up social security for all of us is paying off.

Only four in ten Americans expect to be fully qualified from the national retirement plan at retirement, and one in five believes they will not get anything at all.It is based on New survey Conducted by the Boston University Retirement Research Center. And it is, for example Research According to the Pew Charitable Trust two years ago.

The latest research also found that how we report on social security finances in the media affects the public. A Boston University study found that headlines were really important. The headline mentioning the expected “bankruptcy” of the trust fund has increased the number of people who expect a 20-40% reduction, making readers want to start claiming benefits sooner.

But strangely, the same headline didn’t make the reader want to save more.

In both cases, the change was not that great. Some groups wanted to start claiming benefits six months or a year earlier than others. But they were there. But what really impressed me was the pessimism that prevailed in everyone, regardless of the headline. About two-thirds of the most optimistic group expected a benefit reduction of more than 20% when the time came.

And that’s what we get … only if we do nothing to save social security finances. The trustee’s latest report is generally considered together for these calculations Social Security and Disability Insurance Trust Funds, about 78% of benefits when cumulative savings are exhausted in the next decade I expect to be able to pay. (The Council says this will happen in 2034. The Congressional Budget Office says it’s darker in 2032.)

Apparently Congress can find money Relief of a private pension fund run by Team StarsHowever, I can’t find enough money to bail out a public pension fund run by Uncle Sam.

It’s hard to imagine the disastrous consequences of reducing social security.Average elderly Depends on social security Over 60% of retirement income. One-third depends almost exclusively on it.

Time is our enemy. Every year the problem is postponed, costs are rising and it is politically difficult to find a solution. It is worth noting that the total funding shortfall proposed after 2034 will reach just over 1.2% of annual GDP. But perhaps the Federal Reserve can print the money we need. That seems to be all the solutions these days.

Opinion: We are losing the social security propaganda war

http://www.marketwatch.com/news/story.asp?guid=%7B20C05575-04D4-B545-76BD-1BD2EE3069D6%7D&siteid=rss&rss=1 Opinion: We are losing the social security propaganda war

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