As we should all be aware of by now, there is a concerted effort to destroy Social Security by changing its investments away from US Treasury bonds and divert that money into the stock market. This has not been an easy sell because who would you like to take care of your retirement: an efficient, safe, and secure government agency or the looters in the financial sector who think nothing of gambling with your money while pocketing huge salaries and bonuses and walking away with golden parachutes when they get caught?
One strategy that has been adopted is to try and create a generational war between old and young people. Older people are promised that their benefits will not be touched by any changes, thus hoping that they will sign on to a plan that will destroy Social Security for future generations. Meanwhile young people are being told that the old are greedy geezers living high on the hog off the Social Security contributions of the young who will be left with nothing when they get old, and that thus they should sign on to a system that would invest their retirement funds in stocks instead.
This was always a hard sell among the old. After all, most old people have children, grandchildren, nephews, and nieces whom they care about and asking them to ignore their future needs would be repellent for all but the most greedy and selfish among them.
The destroyers of Social Security may have hoped for a better response from the young but the good news is that the younger generation don’t seem to be falling for their pitch either.
So Alan Simpson can take his crazy coot act back to Wyoming.