Saturday, December 05, 2009
Fed Chairman talks about Social Security benefits
I find it amazing that Fed Chairman Bernanke has the temerity to suggest cuts in Social Security benefits. It appears that bankers and financiers have a higher priority in the Bernanke view then SS beneficiaries. Of course that is what I believe is being discussed at this site so click here. Please recall that Social Security is an insurance benefit whether it be retirement or disability. Beneficiaries by working have paid for the coverage just as you and I pay for life insurance. This as opposed to those fragile banks and financial companies that received bailouts simply because it was important to the economy that they not fail even if they made bad investments. What it reveals, in my opinion, is the economic view that the old and the disabled are no longer productive so they should only get what benefits are provided to them. It disregards the fact Social Security is insurance not a giveaway. It seems cold blooded to pick on those truly fragile who have already contributed to their coverage.