Social Security

[Linkmeister]

I see the Hawai'i Republicans are in lockstep with GWB on Social Security:

Brennon Morioka, Hawaii GOP chairman, says he thinks the public will support Bush's plan.

"The president is giving the people a choice. Those who are now in the system or will soon be collecting Social Security have the option to stay in the system.

"But to turn a blind eye to the troubles with Social Security is not being realistic," Morioka said. "We need to act now."

"There has been so much talk over the last 10 years and nothing has been done," Morioka said, calling Bush "a man of action."

"I think it is time to act, and I applaud the president for his decision. I think Social Security as it is has served its purpose. Times change, people change and technology changes, but often government doesn't change with it," Morioka said.

I wonder how old Mr. Morioka is, and whether he has parents who currently are or soon will be eligible to collect SocSec.

[Miulang]

Re: Social Security

The White House is going to have a hard time convincing Congress to go along with this plan to overhaul Social Security because each and every Senator and Congressman (doesn't matter from which party) who goes home to talk to his constituents is getting an earful from the older people about how this is not a good idea. Whether the young 'uns choose to believe it or not, the old fogies are still the ones with the power and control over the pursestrings and the free time to ask questions and do research on issues.

As it is, interest on the national debt is the second biggest line item of the Federal Budget; if this plan succeeds, it will surpass even Defense spending in the budget, and that means the young people and their kids and their grandkids are the ones who are going to suffer, not the people close to retirement age, because people 55 and older will still get full benefits. The majority of the Boomer kids (born in the 1950s to about 1963) will not qualify for full Social Security benefits as they exist today, and they're going to have to work a whole lot longer to qualify.

Just to be prudent, though, all school systems should make sure that kids get some mandatory personal finance classes before they graduate. Otherwise, if this plan is passed, those kids will be in the world of hurt when they are ready to retire.

Miulang

[Glen Miyashiro]

Re: Social Security

I wonder how old Mr. Morioka is, and whether he has parents who currently are or soon will be eligible to collect SocSec.

Brennon Morioka is 35 and is an Iolani '87 grad. He is the son of Keith Morioka, age 59, and Darleen Morioka Dyer, age 58.

[Linkmeister]

Re: Social Security

Brennon Morioka is 35 and is an Iolani '87 grad. He is the son of Keith Morioka, age 59, and Darleen Morioka Dyer, age 58.

Ah. Then, unlike me, they don't get shafted by the Bush plan (I'm 54). That isn't my primary reason for disagreeing with it, but I won't deny it has a bearing, particularly since I watched my IRA stock fund values drop from $70K to $35K between 2000 and 2003.

[Albert]

Re: Social Security

If AARP doesn't manage to sink this whole Bush2 mess, I will be most surprised.