Hot Docs: Iraq Can't Spend Its Oil Money, Raising the Retirement Age, and More

That's is just stupid or a lie

Mr Patrick is repeating simply stupid and erroneous information, or lying if you care to look at it that way. Congress's pension plan (FERS, the same as all federal employees) is based on years of service and they don't retire with anywhere near $12,000 per month with one year of service, or any more of years of service for that matter. They also pay into FERS and Social Security, by law, since 1984.

Some facts:

1. The 1983 amendments to the Social Security Act required federal employees first hired after 1983 to participate in Social Security. These amendments also required all Members of Congress to participate in Social Security as of January 1, 1984, regardless of when they first entered Congress.

2. Members of Congress receive retirement and health benefits under the same plans available to other federal employees. They become vested after five years of full participation. Members of Congress under FERS contribute 1.3 percent of their salary into the FERS retirement plan and pay 6.2 percent of their salary in Social Security taxes. (How much do you pay Mr. Patrick?)

3. Members of Congress are not eligible for a pension until they reach the age of 50, but only if they've completed 20 years of service. Members are eligible at any age after completing 25 years of service or after they reach the age of 62. Member's of Congress have to serve at least 5 years to receive any pension at all.

4. The amount of a Congressperson's pension depends on the years of service and the average of the highest 3 years of his or her salary. By law, the starting amount of a Member's retirement annuity may not exceed 80% of his or her final salary.

5. According to the Congressional Research Service, 413 retired Members of Congress were receiving federal pensions based fully or in part on their congressional service as of Oct. 1, 2006. Of this number, 290 had retired under CSRS and were receiving an average annual pension of $60,972. (That about $5000 per month Mr Patrick, not $12,000 and they paid in.) A total of 123 Members had retired with service under both CSRS and FERS or with service under FERS only. Their average annual pension was $35,952 in 2006. ($3000 per month.)

That's $5000 per month and $3000 per month respectively Mr. Patrick. And they paid into the system. Are you?

ps -- Don't blindly believe what you read on the internet... this included!

Iraq

Well,seeing how they have so much oil and we need oil badly,why not send some of it our way.Thats the least they can do for us considering we free'd them from a tyranical maniac.

Social Security

Senators and congressman should not be allowed s.s.A person who serves just one term as a congressman is given a 12 thousand dollars per month pension senators recieve more so I see no need for them to collect s.s. also.Considering that while their in office the tax payers are paying for thei food,clothe's,housing,gas and the list go's on and on they don't need or deserve to collect s.s.

Social Security

If what I have heard is true (passing a bill to pay illegal aliens SS benefits). Impossible to believe and in now way be allowed! Also, politicians should be forced to pay in to the SS fund just like the rest of us citizens. In fact I think everybody should be forced to have SS deductions year round. The big earners are paid up early in the new year while the working force pays almost the whole year depending on their income. This should keep the system from drying up. Next, congress needs to hire a collection agency to collect all the IOU's the government owes to the SS account.

Social Security

Raising the retirement age is a first step. Next "all" income will be subject to this Ponzi scheme and then we can just wait for congress to pass a "means" test so if you have any real assets at all you won't qualify. In the end most of those who paid will see very little in return.

Just wait....

S.S. Reform.

"Changing it for any reason, I view as a breach of contract, (aka, lies)."

Along with implementing your other ideas why not implement a law allowing people to have full retirement or partial according to the law that was in effect per the year they were born?

Fair is fair and anything else is the wholesale stabbing of Americans in the back so that politicians can pork their way through their careers.

Also, force Congress to put the money back into S.S. that they have stolen from it since they left nothing in it's place except worthless IOU's.

They turned it into a racket.

Not Necessarily

The Demos don't have to screw up any SS efforts by Bush in order to make him look badly. He's doing a good enough job of that on his own. Our country has been run into the ground, just like the 3 oil companies his father gave him. His partner, Bin Laden, certainly couldn't be happy about that.

As someone who has been paying into social security since he started working, I know that I'll never see a penny of what I pay. I see it bleed out of my paycheck every single month and I want to cry. It's horrifying.

Blame it on longevity, but I blame it on the breeders. All those people having more than 2 kids. Why? They aren't doing society any favors by breeding out of control.

The first thing they need to do is make it available for a person to OPT OUT of SS payments. In exchange for this, they must be required to have an IRA set up and have those funds transferred to the IRA.

Then, they've got to bring back EUGENICS. America will never admit it, but this country practiced eugenics in the past by sterilizing retarded people and various ethnic groups. Bring it back! Offer ghetto dwellers a free plasma TV in exchange for getting sterilized. It's a small price to pay, compared to welfare payments PER CHILD. And the costs associated with schools will go down. Crime will go down.

Take these savings and put them into the SS system. Save it, but also work on phasing it out with the IRA option.

While this would indeed make the world a better place, it will never happen because it would upset the current power balance. Everyone who is in power wants to stay in power. Do not believe that they are "public servants," because public servants shouldn't have more money in the bank than the average person. They're all career politicians, and they will do whatever it takes to stay in power, even if it means eradicating the middle class.

If you are middle class, be prepared to pick a side. More likely than not, you will join the ranks of the poor. And if you're a breeder, you'll have to explain to your children why they have to do without when it comes to the basics.

Breeders and politicians are equally disgusting.

Goverment "Accountability" Office

This is Not a governmental office and its pronouncements should be taken with a grain of salt. If the wuote is form the "Governmen ACCOUNTING Office then it should be revieled.

Social Security

As one who turns 71 this month and is still working - 20 hrs per week - I would agree that the full benefit age should be, gradually, raised to 70 and the partial benefit age should be raised to 65. However, the cap should be eliminated. Currently and moneys made above $100,000 are not subject to social security deductions. That should stop and the same percentage should be taken out regardless of the income. These changes should also be applied to Medicare deductions. Reasonably healthy people are now living to 80+, not 60+ as they were in the 1930s. We must make adjustments and make them without further delay. And we need to make government keep its hands off those funds, when they are looking for ways to pay for other programs.

Fixing Social Security

As long as the Democrats are in charge of fixing it, it will never really get fixed. If you tried to set up a system that was just like Social Security, you would be thrown into jail as a con man running a illegal pyramid scheme. Getting your future out of the hands of the government is the only way you'll have a future. Bush tried to do something to start to fix SS, but the Dems have done everything to make anything Bush has tried to do, turn into a failure. Their reason? They need to be able to say at every election, " The Republicans want to take away your Social Security". And don't delude yourself into thinking that it is otherwise.

I was born in 1948 and I was told that my retirement would begin at age 65, which I have been looking forward to since my first day of work. Changing it for any reason, I view as a breach of contract, (aka, lies). I want all my funds returned plus interest, plus penelties. I want to do to the government, what the government has been doing to me.

Vote all the bastards out and stop electing lawyers!