Social Security

I want to thank the Bradenton Times for this space over the next few weeks to share information regarding an issue that affects everyone between the age of birth and death; that is Social Security. My name is Jim Gries, and along with my wife Barbara and our two felines reside in Weeki Wachee, FL; we moved here from Houston Texas in 2003. We have 6 children, and 15 wonderful grand children, two currently serving their country. My tour on this earth spans 8 decades, and like most of you, my relationship with the next generation serves as my daily motivation.

You should know I possess no fancy titles or professional degrees, nor have I ever been appointed to a Presidential commission of any kind. I’m just Jim. The information contained in this series is not politically motivated, or based on an ”I’m entitled“ point of view. It is based on an obligation the current custodial generation (that’s mine) inherited from a previous generation, regarding passing along the generational chain of trust unbroken and intact. Given the issues of the day this is no small task, and requires nothing less than our best efforts. Each article in this series will contain embedded links that provide you the reader with an audible/visual presentation aiding in your understanding of the issue.

Having owned several businesses over my lifetime, I consider myself a forward thinking entrepreneur, who subscribes to Albert Einstein’s theory that says; ”We cannot solve the significant issues of the day at the same level of thinking we were at when we created them.“ More specifically, we must pull the ripcord on our gray matter, and open our minds to some new ways of addressing the Social Security issue.

Like most of you, I possess a very basic talent, and that is the ability to recognize a duck when I hear it quack, see it walk, or examine its tracks. Examining this issue from the 30,000 foot vantage point reveals some startling facts regarding the tracks left behind by those we’ve trusted with preserving, protecting and defending the funds we seniors depend on in our golden years of retirement.
 
Social Security has never been a dinner table topic of discussion. In fact, it’s not a subject we like to talk about very much at all. For some, it provokes Richter scale emotions, and for others it hardly wiggles their needle. However, those of us who depend on it, do love having that monthly check deposited into our bank accounts.

With this social experiment having celebrated its 75th anniversary, and another election season beginning to heat up, it seems an appropriate time to engage in a serious, constructive dialog. Although most of my peer group (me included) feels we’re entitled, any meaningful conversation can’t begin with I’m entitled. It must begin with I’m interested, interested in opening a dialog with those who fund our monthly checks -- our children and grandchildren. After all, there’s more than one party with a stake in the outcome of this debate. We can no longer avoid this conversation out of a fear of losing something, but rather we must embrace it, motivated by the belief we can be a catalyst for saving something; most notably our relationship with the next generation.

Every summer I share with one of our young grandchildren my work on this issue. Last summer, it was our Granddaughter Amber's turn. Amber had just entered that wonderful transitional period of her young life, known as teen-dom. She has her whole future ahead of her, and shouldn’t have to navigate the turbulent financial waters created by a previous generation. Let me be honest, having this conversation about Social Security is not something I look forward to, and I very much wish it wasn’t necessary. Quite frankly, it’s a talk I’ve had no experience with, since my Grandfather never had to have it with me. But in my opinion, if the current custodial generation is to retain its credibility, then it’s a necessary talk, and in this case both Grandpa and Amber felt much better after having it.

After a few days of reflection, here’s a brief excerpt of what Amber wrote:

”You might be thinking Social Security doesn’t affect me at all, since it will be several years before I get my first paycheck; that would be wrong. Social Security gets a little more than 12 cents for every dollar my Mom & Dad make, and their take home pay does affect the amount of things they can afford. Like saving for me and my brother's college education, taking family vacations together, and yes my weekly allowance. Now what really has me worried is how Social Security will affect my future paychecks.

”Grandpa has told me about the Social security debt, and how the piece of Mom & Dad's paychecks that was supposed to be put away for their future Social Security checks, was instead spent leaving my generation on the hook to pay again what our Moms & Dads have already paid once; I don't think that's right. Remember, one day you'll probably need a piece of my paycheck to help pay for your social security check; so I remind you, what's fair is fair.“

Amber’s alert isn’t about an abducted or missing child. It’s about an entire generation who’ve been kidnapped by a two-headed political monster and its lobbyist, who demand a return on their investments at the expense of working Americans hard-earned retirement dollars. This assault on middle class working Americans, those whose backs we all ride to our prosperity must stop; then and only then will Amber be able to cancel Amber’s alert.

Over a period of years, Social Security that began with the best of intentions, has morphed into a precision political instrument, with both major parties taking their turns at wielding the scalpel. It’s become a divisive political issue, with one party leaning toward privatization, and the other expanding it far beyond its original intent. Collectively, we’ve chosen to ignore the issue, in effect treating it like the crazy aunt locked up in the attic. Our vigil of silence has given politicians a green light to mismanage our retirement assets, now so desperately needed to fund current retirees, and the newly retiring 78 million baby boomers.

Each election season we’re wheeled in for political surgery resulting in loss of another inch off our financial legs, and as our financial legs are shortened, our welfare arms grow longer. Consequently millions of retired Americans are left walking on financial stubs in their golden years, and working at a big box store. They’re left reaching out to the very political surgeons who’ve amputated their legs in the first place. For the sake of this and future generations, we must change this outcome.

Although our elected representatives have left us in a precarious generational situation, we have a wonderful opportunity to play a major role in addressing this issue going forward. To that end, this weekly column will begin sharing some facts regarding how Social Security has impacted the lives of millions of average working Americans, their families and the communities they call home. Then introduce a proposal that ushers in a new era for Social Security, wrapped in a comprehensive, community based solution going forward. Remember, we are Americans, we can do something hard, we can do something big, but only if we do something together. Tune in weekdays at 9am (eastern); and be a part of the Social Security conversation.

Read Part 2.

You can email Jim with your questions and comments at jgries1@tampabay.rr.com.