I hate to see anyone who has already committed to a military career have his/her retirement benefits changed. But things are very different today, and getting more intense by the day.
I still remember SO1 Jack Green telling me in 1962 that if shipped over, I would have free medical for the rest of my life. Well - that changed somewhat along the way, but I have a difficult time complaining too much.
I had a total knee replacement in April, and between Tricare and Medicare it was covered. I know that Medicare is deducted from my monthly SS check, but one major surgery or hospital stay will quickly take care of what I contribute. And, the DR believes that my other knee will need replacement in the future as well.
My USN retirement pay has much more than doubled in the 30 years since I passed through the sideboys, even considering the lack of COLA adjustments. And although there is the "interest I lost" by the government taking my SS contributions over the years of my working life (assuming I would have saved that money), I am about a year away from receiving twice what I paid in.
I am but one small grain of sand on a huge beach. Many of you served longer than I, and attained higher pay grades. Thousands upon thousands are in our position, and we are living longer (yippie!). You have to wonder how this will all be paid for. The truth is that this ride we are on, well-deserved as it may be, simply cannot last forever. It is purely a mathematical dilemma.
Many state and federal employees have far more lucrative benefits and retirement packages than you and I. With strong union backing, most of those packages will likely endure in pretty much their current form - for as long as they can.
Simply put folks, there are more people riding in the wagon than there are pulling it. I'm not even touching on the dozens of entitlement programs that offer incentives for younger generations to climb into the wagon. I am quite honestly sickened by young folks who believe that they are entitled to the best of everything without ever working for it. Holy crap - I"m starting to sound like my father!
One final thought - the wealthy taxpayers just don't have enough (more) to cover the tab. Initiating class warfare is really a dumb approach, and I haven't heard a WH speech recently that didn't promote that idea.
This whole thing will totally fall apart if the Chinese decide to stop lending us money. Even a slight rise in the interest rate on our debt would be tough to live through.
Sorry about the doom & gloom, but I am very worried about our country, and my grandson's futures. I would far rather take Randy's quicky quiz, but the truth is, I barely know half of the answers (what was that dog's name?).
George
I've resigned myself to the fact that I'll work for the rest of my life partly because of the Governments meddling with private industry and taxing corporations to the point of elimination of pensions and health care plans. I work now for a small business who's owner is hiring temps instead of full time people to avoid the Obamacare issues. Our turnover is about 90%, it's a house of cards!
Yes the system is broken and my kid and grandchildren are going to pay the lions share of the Feds inability to control their own checkbooks.
I appreciate all of your commitments to our Country with your lifelong service in the Navy but you all are facing the reality of too much spending for all the wrong reasons.
I have a brother who put his 24 years in the Navy, he's been out nearly twenty and he's only 57 and still working full time. He understands the reality of what an out of control Congress and WH can do!
Events are indeed worrying. But like you, I believe in the spirit of the American People. Recently, on Facebook, I proposed that (like the WW-II War Bonds that helped finance the war against the Axis) Heritage Bonds comprised of Gold Certificates which would stand the test of hyperinflation be made available to the American people for purchase. The monies collected would be administered by the Justices of the Supreme Court... not Congress or the Treasury Department. The monies would be used exclusively to pay down the national debt.
I realize that it would take years to make a sufficient dent in our debt to cause there to be hope. But it would give the nation a sense of community that it doesn't seem to have anymore.
I also believe in the FairTax (www.fairtax.org) since it is the only way to get the money out of Congressional hands. They no longer deserve my trust as good stewards of the taxes that I pay.
America has seen dark days before. And I suspect we will see even darker days ahead. But we will fight to overcome adversity with every ounce of our being... that is the American Way!
THe problem with bonds is they ADD to the national debt.....Buying a $50 savings bond for $25 adds $25 to te governments debt.....The only real way to reduce the debt is to spend LESS money than you take in, and stop borrowing money to make ends meet. Anyone who was in the Navy during the lean (pre Reagan era) knows how that is....
The concept here is to buy a $50 bond for $50 dollars, thus not adding to debt. The payback is in the Gold Certificate. If you buy the inflation indexed bond the Gold Certificate allows the Government to pay $50 on the national debt. The fixed term would allow redemption at some future date by a designated beneficiary in the amount of the bond plus the inflation accrued since it was issued. These are long term bonds, not a hot money making investment. They are intended to help keep America on her feet.
Rick:
I really like that idea!
George
George, I can remember my Mom and Dad speaking of the war and how tough times were. Mom always mentioned going to the movies and seeing the War Bond short subject movies and how they improved her morale. dad was serving in the Navy but said that the United states was more united then than at any time he could remember. He had lived through the Great Depression, WPA, and such. He said that everyone he knew bought War Bonds knowing full well that they were being used to insure America's future.
Well... we could use some of that spirit and insurance today... as never before seen in my lifetime. Founders Gardens and Heritage Bonds, scrap metal and paper drives, there are hundreds of ways for Americans to pull out of this dive.. I for one will fight for her future again... even if that fight is up a steep hill.
Americans can do this thing, and Congress needs to kick out paid lobbyists to do it. K Street isn't free speech. K Street is part of the problem. I'd also take Congress and the Senate off of real-time TV. Too many "stars" in the Congress and Senate! Get on with the peoples business, and lets index their pay to real results, not vapor bills that do nothing.
OK... My rant is over.
Rick
P.S. Best to Peg and family from Joan and I. Would love to play some Double Pinochle like the old days.
Well said, George. I knew there was a reason you were the one person I respected most throughout my career. Honest man with out a personal agenda! - Jim