Social Security

Social Security, The third rail.

The sustained solvency of Social Security was a topic of debate long before Tip O’Neill described it as “the third rail of American politics” in the early 1980’s. Some believe that Barry Goldwater, who lost his bid for the presidency to Lyndon Johnson in 1964, was one of the first presidential candidates to suggest that Social Security reform was needed.

Al Gore campaigned on the promise to put Social Security in a “lockbox”. Both President Bushs advocated privatizing Social Security. The bottom line is that nobody has fixed it and it will be under funded by some estimates, as early as 2016. It shouldn’t be a surprise anyone, that the government has been “borrowing” from our Social Security funds for decades. Our government has a flawless history and mindset that the public’s money belongs to them to be used as they see fit.

Back when Franklin D. Roosevelt signed Social Security into law, there were 16 workers paying in for every retired worker receiving benefits. Soon the system will be upside down with more retirees receiving benefits than workers paying in.

Social Security should be a bigger priority than healthcare! Clearly the solution is not a simple one, but we must face the fact that a large number of people will have to make hard sacrifices and significant compromises for America to solve this issue. We need to start by making changes with the way young people, just entering the workforce, are both taxed for Social Security and save for their retirement. A balanced combination of taxation and required investments should be instituted with the goal of eliminating the government’s role in providing for America’s golden years.

Social Security is another example of our government's inability to manage anything. Despite hundreds of examples of mismanagement and fraud we continue to allow the government to grow its power and influence as we keep our heads in the sand.

What is a Third Rail?
Many trains that are powered by electricity are attached to a third rail that runs alongside the tracks. The third rail provides electricity, to power the train. So, touching the third rail, or Social Security, means electrocution and certain death.