Saving Social Security, Medicare and Medicaid - Democratic Vision ...

I believe the Social Security, Medicare & Medicaid system has been abused for far too long. When it was first constructed, it was intended to save men and women from the rigors of the poor house. Today, every person in America, regardless of the financial status receives a check upon reaching the retirement age. People who are financially well off, especially Millionaires & Billionaires should not be receiving benefits which were designed to "save men and women from the rigors of the poor house."

I believe if Social Security,and Medicare are to be saved and remain solvent. A Means Test should be implemented to receive benefits. Only those individuals who meet a certain criteria such as having liquid assets under $50,000, excluding their home should receive Social Security and Medicare. In this way, the rolls of recipients would be greatly diminished as well as the amount of expenditures. People who have the financial means to take responsibility for their own lives and future shouldn't be taking these benefits which in some cases amount to pocket-change for them.

Supreme Court said regarding Social Security: ?The hope behind this statute is to save men and women from the rigors of the poor house as well as from the haunting fear that such a lot awaits them when journey's end is near.?

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http://www.ssa.gov/

Social Security Trust Fund Data - http://www.ssa.gov/OACT/ProgData/funds.html

Currently, due to the Federal Government borrowing from this TRUST FUND, the Federal Government OWES the Social Security Trust Fund nearly?$2.7 Trillion Dollars.

If ever there were a BAILOUT Fund necessary, it is the repayment of the funds borrowed from Social Security in order to ensure it's solvency and continuation.

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"In the United States, Social Security refers to the Old-Age, Survivors, and Disability Insurance (OASDI) federal program. Social Security is primarily funded through dedicated payroll taxes called Federal Insurance Contributions Act tax (FICA). Tax deposits are formally entrusted to the Federal Old-Age and Survivors Insurance Trust Fund, the Federal Disability Insurance Trust Fund, the Federal Hospital Insurance Trust Fund, or the Federal Supplementary Medical Insurance Trust Fund which comprise the Social Security Trust Fund. By dollars paid, the U.S. Social Security program is the largest government program in the world and the single greatest expenditure in the federal budget, with 20.8% for Social Security, compared to 20.5% for discretionary defense and 20.1% for Medicare/Medicaid.
Social Security is currently estimated to keep roughly 40 percent of all Americans age 65 or older out of poverty."
http://en.wikipedia.org/wiki/Social_Security_(United_States)

"In the United States, the Social Security Trust Fund is a fund operated by the Social Security Administration into which are paid payroll tax contributions from workers and employers under the Social Security system and out of which benefit payments are made to retirees, survivors, and the disabled, and for general administrative expenses. The fund also earns interest. There technically are two component funds, the Old-Age and Survivors Insurance (OASI) and Disability Insurance (DI) Trust Funds, referred to collectively as the OASDI funds.

When program revenues exceed payments (i.e., the program is in surplus) the extra funds are borrowed and used by the government for other purposes, but a legal obligation to program recipients is created to the extent this occurs. These surpluses add to the Trust Fund. At the end of 2011, the Trust Fund contained (or alternatively, was owed) $2.7 trillion, up $69 billion from 2010" http://en.wikipedia.org/wiki/Social_Security_Trust_Fund

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One?issue I have concerns over is the fact that a Commission set up by President Ronald Reagan to deal with Social Security solvency was lead by the future Federal Reserve Chairman Alan Greenspan. Alan Greenspan was a close friend and part of "The Collective" associated with Ayn Rand. Placing an individual who's philosophy was that every individual should either prosper or fail on their own in charge of a Federal Program He and Ayn Rand viewed as a form of Socialism is perplexing. It may have even lead toward the problems the system is currently experiencing, perhaps intentionally so that it would fail.

So, in closing I believe if the Federal Government were to return the $2.7 trillion it owes the Social Security Trust Fund, implements a Means Test for receiving benefits. The Social Safety-net originally set up to ensure in saving men and women from the rigors of the poor house. Our Nation would restore some sense of Moral Authority and Compassion for those least among us.

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Source: http://democraticvision.gather.com/viewArticle.action?articleId=281474981808269

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