Just heard on news social security going down..

how many loaves of bread could a dollar buy in 1970? how many can u buy today? i stopped paying ss 10 years ago . iam self employed . i knew it was a scam. they pay u back pennys on the dollars u put in. isnt inflation great. your pensions and medicaid are gone too. they just havent told u yet.

As my coach in football used to say "Keith your catching your man (offensive lineman), you have to take him before he takes you" Remember it well and the time to quit "catching" is "WAY OVERDUE" for all of us. Time for some real outrage. If I read one more bullshit post in anticipation of the GD criminals shutting everything down and making off with our hard earned money I'm going to puke...Why not do it like a football pool, guessing the date everything comes crashing down...Some of you people are pathetic.

I, like so many on these boards, am convinced that one generation or the other - mine, or the one to follow, will get hosed by Social Security. I wish it wasn't mine, however, I'm planning for that eventuality.

This is the beginning of it. They can't cut benefits in dollar terms, but they can discontinue COLA increases; and then the dollar will collapse, and benefits will remain the same in dollar terms meaning you'll get nothing for money. It's a hose job of the highest order, and it stinks.

God Bless the USA, you say? If' it's the government thereof you're talking about when you say it, I say, "F the USA".

at yahoo earlier, but could not get the link to work....I am glad someone else was able to pass this information on to others...

Millions face shrinking Social Security payments

By STEPHEN OHLEMACHER, Associated Press Writer – Sun Aug 23,
WASHINGTON – Millions of older people face shrinking Social Security checks next year, the first time in a generation that payments would not rise. The trustees who oversee Social Security are projecting there won't be a cost of living adjustment (COLA) for the next two years. That hasn't happened since automatic increases were adopted in 1975.

By law, Social Security benefits cannot go down. Nevertheless, monthly payments would drop for millions of people in the Medicare prescription drug program because the premiums, which often are deducted from Social Security payments, are scheduled to go up slightly.

"I will promise you, they count on that COLA," said Barbara Kennelly, a former Democratic congresswoman from Connecticut who now heads the National Committee to Preserve Social Security and Medicare. "To some people, it might not be a big deal. But to seniors, especially with their health care costs, it is a big deal."

Cost of living adjustments are pegged to inflation, which has been negative this year, largely because energy prices are below 2008 levels.
Advocates say older people still face higher prices because they spend a disproportionate amount of their income on health care, where costs rise faster than inflation. Many also have suffered from declining home values and shrinking stock portfolios just as they are relying on those assets for income.

continued: http://news.yahoo.com/s/ap/20090823/ap_on_go_ot/us_social_se...