Social Security: Bankrupt System!
In theory, Social Security is a form of "insurance". In practice, it is a "ponzi scheme" which works very much like an illegal chain letter. The system is both actuarially unsound and bankrupt--and soon the chain must break. The chances that today's youth will receive any benefits from the Social Security system are remote at best.
Unfortunately, like the falling man, it is hard for most people to realize that things are not "fine"-until they hit the pavement.
For more information on this topic I recommend reading: "Social Insecurity: the Crisis in America's Social Security System" by Dorcas R. Hardy & C. Colburn Hardy.
Employees can no longer count on company-funded retirements!
With more and more fortune 500 companies filing bankruptcy, slashing wages, and cannibalizing pension a great majority of the 44 million Americans are concerned about the second most important source of financial support; pensions. For example: the bankruptcy of United Airline sand U.S. Airways forced the companies to hand off their under funded pension plans to the Pension Benefit Guaranty Corporation last year .Unfortunately,PBGC announced last November their facing a $23.5 billion shortfall leaving employees out to dry. Alcoa, the worlds largest aluminum company announced new salaried employees will not receive traditional pensions. In addition, IBM announced the suspension
of their pension program.
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