I am not going to rant and rave about a Congress that can’t even show up for work on a daily basis. I will not rant and rave about the hundreds of billions of dollars we pay for these “no show” jobs through our tax donations. I will not rant and rave about a Citizenry that refuses to hold their elected Official’s feet to the fire when it comes to honoring contracts.
I will, instead, rant and rave about the fact that our Federal Government will be in serious breach of contract, if anything small, or large, is cut from these two programs. Beside the fact that there will shortly be a slew of additional folks on the Social Security and Medicare “rolls”, there is the flip side of that equation. There will be vastly more potential job opportunities opening up as hundreds of thousands of “baby boomers” come to the end of their careers, and slide into retirement.
The mechanisms designed to aid our Senior Citizens through their remaining years are Social Security and Medicare. These two Programs are run by the Federal Government, but they are in no way paid for by the Federal Government. How can this be, you may ask? This can be solely for the reason that these two Programs are legal contracts between the working Public and the Federal Government. These Contracts are identical to the Contract you might encounter when signing up for Life Insurance. The deal is that you pay a certain amount of money over a certain amount of time into a fund that in turn promises to pay you a certain amount of money at a certain, predetermined time. This is assistance in connection with your expendable income, once you have hit that predetermined point in time (retirement age).
How does all this relate to our Nation’s Treasury and our current financial situation? In a nut shell, it doesn’t relate to our fiscal crisis one bit. Are there some much needed reforms for each of these two Programs? Yes, most definitely there are reforms that can and should be implemented, and very soon. I don’t think too many people can effectively argue against either of these questions. The question that is arguable is that of how the Federal Government treats these two Funds. Are they going to honor their Contract with the American People, or will they continue to be in breach of said Contracts? That’s correct. They are currently in breach of both contracts. Social Security has been “borrowed” against in past years to shore up other, not so well funded, Programs, and Medicare has been grossly mismanaged and defrauded.
Where does leave the U.S. Citizen transitioning from the working days into their retirement days? It leaves that sector of our Society in a very precarious position. Luckily the money is still there in sufficient amount to fulfill the Contracts. However, if any looting occurs to either one of the Programs, the American Public has every right to file a Civil Law suit against the Federal Government on a myriad of grounds.
Two of those “grounds”, as mentioned, would be “BREACH OF CONTRACT” and “MISMANAGEMENT OF FUNDS” (fraud) (embezzlement), etc. The scary part of this situation is that we are upon it right now, and no one seems to be going to bat for the common, working folk of this Country. And, in a sense, why should anyone stick his/her neck out for us? We don’t seem to be able to do that for ourselves, now, do we? If this Problem goes unaddressed too much longer, there are going to be some Senior Citizens with very short fuses. That, my friends, could get ugly.
Hutch Dubosque is a retired Manufacturing Engineer who has taken up writing Socio-Political commentary using social media. He has a B.A. in Journalism and an AAS in Energy Technology, and is a current member of the Academy of Political Science, among other pertinent organizations. Mr. Dubosque is also the Vice President of the PTSD Alumni Association of Northport, NY, Inc.( a non-profit organization assisting Veterans).