Stick a Fork in Social Security Already

0:00Have you ever actually been down to the social security office before? I've been once or twice over the course of my life, starting as a little kid. I think my mom dragged me in there for God knows why. But even then, I was incredibly insulted that they always had an armed government agent standing there like somebody's going to rob the most boring place on the planet. Almost like an admission of guilt. That they even need a guard in the first place after all of the generational wealth stole and that we the people are never getting back. You know, outside of the few measly breadcrumbs that they knew managed to eke out once a month.

0:33irreverent news talk opinion satire it's newsweek radio i'm jesse edwards the average worker in the united states pays somewhere in the range of three to four hundred thousand dollars into social security over a lifetime and it's not like that money just sits there growing for you it gets spent as soon as they get it and as we all know if that same money had been invested like a normal retirement account you'd be looking at close to a million dollars or more instead of a monthly stipend that might not even be there when you need it which brings us to the top story of the day over at Newsweek, social security benefits for hundreds of thousands of low-income seniors and those with disabilities could increase under newly introduced legislation.

1:11The bill introduced by Democrats wants to eliminate a long-criticized rule that can reduce monthly payments for recipients who receive help from family or friends. Oh, God forbid, right? What a terrible system. So not only are we forced to pay into this pyramid scheme, but you're technically not allowed to bring in any cash on the side to help without getting in trouble. It's like we're working with the mafia here. Under current rules, social security benefits can be reduced when recipients receive basic non-cash help, such as shared housing or meals from family members or friends or even caregivers.

1:47Now, I take that back. Not even the mafia would be this mean. Eh, you know, we're going to slowly give you back the money we stole from your paycheck, but Not quite enough to live on. Oh, and if we find out you're getting any sort of help from anybody else, you're going to be sorry. The law would change how the SSI program treats so-called in-kind support and maintenance, such as food or housing assistance. Because under current rules, that support can result in reduced SSI benefits even when it comes from informal help rather than cash income. Kevin Thompson, host of the Nine Innings podcast, told Newsweek, quote, What I find interesting is how little pushback there is when companies receive subsidies or tax abatements.

2:26That's rarely questioned. But when support is directed towards individuals and families in need, suddenly becomes a burden on the system, and that disconnect is hard to ignore. Unquote. And he's absolutely right. Corporations get all sorts of kickbacks from every direction. And Big Brother doesn't bat a single eyelash over them. But if your grandparents try to get the same kind of treatment, our mafioso government overlords might cut their monthly stipend in half. And now your grandparents are left eating cat food because they made the mistake of receiving an undeclared handout that the Social Security office didn't approve of.

2:59Fancy face, darling? One meal in every can. It zips open for a moist and delicious serving every time. Wow, thanks, big government. Where would we be without you? If passed, benefits would no longer be reduced based on non-cash help that Social Security recipients receive to meet basic needs such as meals or housing. Yes, thank you, government. Thank you for saving us from yourself. Yeah, maybe Big Brother should mind its own business for a change and give people back their hard-earned money that it stole from us for this Ponzi scheme to begin with. I don't care if you're living on a$200 ,000 retirement package.

3:36If you paid into this system for 50 years, you should get back every dime of that money with interest. Now, I know that's ridiculous because Social Security isn't a vault with our names on it. It's a pass-through. The money we pay into it doesn't just sit there collecting interest. It went out the door to people who already retired. That's the deal. We're not funding ourselves, we're funding them. The same way the next generation is supposed to fund us. So no, there isn't a big pile of cash for them to hand back, unfortunately. And there's never going to be a scenario where everybody gets every dime with interest without blowing the entire system up overnight.

4:08Don't tempt me with a good time. And sure, it's unfair, it's a bad deal, we can call it a Ponzi scheme if we want. But pretending there's a reset button just sitting around somewhere waiting to be pressed is pure fantasy. Our money is gone. And at this point, at least the best thing they could do is to stop taking it from us altogether and just stick a fork in Social Security already. It's already paying out more than it takes in. The trust fund is projected to be depleted around 2032, which is right around the corner. Benefits will automatically drop 25%. You know, in 1960, there were about five workers per retiree.

4:41Today, it's closer to two and a half. The system's long-term shortfall is roughly$20 trillion. And the average monthly benefit right now is only about$1 ,900 before any cuts. Not only are grandma and grandpa eating cat food, they're going to have to have roommates. Break me off a piece of that fancy feast. At some point, you've got to stop pretending this is salvageable and call it what it is. The money's gone, the math doesn't work, and everybody in charge knows it. So stop this slow bleed. Stop pretending this is a retirement plan. And stop taking another dollar out of people's checks for a promise that you cannot keep.

5:17Shut it down, freeze it where it stands, and figure out a way to return at least something to those of us who paid in under the assumption that we were going to be funding our own retirements. Pay people back what you can, own the failure, and just end it already. Yeah, they call it a social contract. But I sure as hell don't remember signing any of it. A lot of us were just born into this nonsense and forced to fund it. And now we're being told that the terms can change whenever the math stops working. That's not a contract. That's a mandate and a failing one at that. That's all I've got for today.

5:48So until we can do it again, it's Newsweek Radio. I'm Jesse Edwards. Catch you next time. Bye. And we say bye-bye. Newsweek Radio is a member of the Trust Project. You're going to be sorry.