Thanks Uncle Sam

I am a retiree living the good life at the expense of the government - of course I did contribute to the Social Security System for over 50 years, so I guess they owe me a few bucks. It was announced recently that the annual Social Security benefit for retirees would increase 2.3% next year. For the average retiree this amounts to a $24/month increase in 2008. Unfortunately, those of us that are fortunate and have our own retirement fund, must pay "income tax" on half of that. Thanks Uncle Sam.

Let's put this in perspective - at today's prices this amounts to an additional 8 gallons of gas each month next year, three movie tickets, or a good bottle of wine each month, for the average retiree (assuming we don't see any price increases in our groceries, utilities, etc.). I feel sorry for the smokers, it will not even buy an additional carton of cigarettes each month - of course, most of them are probably dead by the time they retire (and Uncle Sam thanks them for their lifetime contribution to the Social Security Fund).

As someone that earned a nice salary for several years before retirement, I am one of the lucky ones, and my retirement income increase will be a whopping $30 a month in 2008. So with this additional income, my wife and I are already looking at cruise brochures. With this huge increase we are contemplating several cruises - possibly the tour boat at Morro Bay, the Bahia Belle on Mission Bay, or maybe even a special trip to Catalina Island for the day.

Forty million baby boomers are scheduled to retire in the next 15 years and they look forward to their "free" monthly retirement income.

The Social Security Fund earns an interest rate of 2.5%, a "spectacular" return managed by our brilliant Congress. In addition, Social Security revenues were supposed to be kept in a Trust Fund...surprise everyone - Congress has spent the money! George Bush recently proposed a system which would include voluntary Social Security private accounts that could increase this return by two or three times, but the Congress felt it was too "risky". They certainly have our best interest in mind, don't they? Of course they ignore the fact that there is no way the Fund as it's now structured, can support forty million retirees.

But it is not the retirees worry - it is on the back of our kids and grand kids. Yes kids, you need to start thinking of 60 hour work weeks and a retirement age of 70, that's what it will take to support us. So the politicians just "kick the can" down the road, and rather than "face the music", will defer the problem to some Congress in the future. Why not, it's too difficult of a problem to face right now, and if they tell people how bad the financial situation in the Social Security System really is, they might not get re-elected, which of course is the most important thing to them.

Anyway, I want to thank Uncle Sam for this generous retirement increase and cannot wait until Hillary becomes President, so in addition, we can get free health care, a $5000 gift for new children, a $1000 contribution to the 401K for everyone, paid leave from work...hey, wait a minute, why is she not doing anything for us retirees? We already have "free" health care, and we have contributed to our 401K's for many years. I think this is age discrimination! If Hillary cannot promise us retirees something "free", I'm voting Republican.