Yesterday Social Security recipients learned that for the first time in history Social Security recipients will not be getting a cost of living wage increase (COLA). Well, that sucks. And if that was not enough in the same notice they learned that their charges for Medicare part B would be going up.
At the same time, we continue to hear about one bailout after another at a price tag of some 8.5 trillion and counting and we haven’t even addressed health and education. The adjusted cost for World War II was only 3.5 billion.
Now, let’s figure this out.
- Most people who pay into Social Security for 40 years will have to live to 83 to get their money back.
- There are 56 million senior citizens on Social Security in the U.S. Most of them lost anywhere from 1/3 to ½ of their retirement plan due to no fault of the people that are being bailed out.
- There are 14.5 unemployed people in the U.S. as of May 2009.
- The people who caused the mess are the recipients of some 8.5 trillion dollars.
- The people who had nothing to do with this mess get ZERO.
- Congressman and Senators receive a pension after only 5 years of service and their cost of living raise this year of $7,400 is still in effect.
I smell a rat. Don’t you?
In case you have trouble figuring out how much 8.5 Trillion is, take a look at these comparisons. Crunching the inflation adjusted numbers, we find the bailout has cost more than all of these big budget government expenditures – combined:
• Marshall Plan: Inflation Adjusted Cost: $115.3 billion
• Louisiana Purchase: Inflation Adjusted Cost: $217 billion
• Race to the Moon: Inflation Adjusted Cost: $237 billion
• S&L Crisis: Cost: Inflation Adjusted Cost: $256 billion
• Korean War: Cost: Inflation Adjusted Cost: $454 billion
• The New Deal: Cost: Inflation Adjusted Cost: $500 billion (Est)
• Invasion of Iraq: Cost: $Inflation Adjusted Cost: $597 billion
• Vietnam War: Cost: Inflation Adjusted Cost: $698 billion
• NASA: Cost: Inflation Adjusted Cost: $851.2 billion
TOTAL: $3.92 trillion
It’s time to pray.