Fit for God
Social Security Turns 70 Amidst Debate Over Its Future
Voice of America News August 12, 2005
On August 14, 1935, President Franklin Roosevelt signed the law creating Social Security. For 70 years it has insured working families against the loss of income due to retirement, death or disability. The future of the program, and the government's ability to finance it, have been the subject of much debate recently. Mr. Weller says Social Security is a "crucial middle-class benefit." John Rother of the AARP says their survey indicates that many Americans agree and are counting on that government check more than ever to help them get through retirement.
The Age Wave: America's Retiring Workforce
VOA News August 4, 2005
It’s being called the “age wave”, and it’s causing concern in both federal and corporate circles. And Rudolph Penner of Washington’s Urban Center warns that the tidal wave has actually begun, saying,“There are some ‘baby boomers’ retiring already, and the first group will apply for social security in 2008. And what we’re going to see is a huge loss of very experienced people without many younger people to take their place because the birth rate has been very low since the mid-1960s.” Some analysts suggest a phased-retirement approach that would allow retirees to continue working part-time, rather than a full 40-hour week. This, in turn, would entail changes to pension laws, and many private pension plans. But regardless of the approach, most analysts agree that many employers, who have yet to realize the full implications of the age wave, need to begin tackling this problem now.
Retirement Homes Aren't Just for the Retired Any More
VOA News June 3, 2005
An estimated 20 million young-adult Americans who left home have moved back with Mom and Dad. "Boomerang adults," they're called -- going away for awhile but circling back home. And now the boomerangers are knocking on grandma and grandpa's doors as well! The New York Times discovered that in many towns, once the old folks come up with the money to move into a pleasant condo community, younger relatives are free to join them.
What will it be today for these daughters and grandsons and nieces living at the gated retirement village? Let's see: aerobics, perhaps. Or golf. Or maybe that bird-watching hike. And what did you say is on the menu for dinner?
Wait, these young folks tell the Times, there are hardships. Living with elderly parents or grandparents can put a damper on your love life. But then, what young person's bachelor pad has central air conditioning, a washing machine and dryer down the hall, and a jet-spray Jacuzzi bathtub?
Retired Americans Say They Depend on Social Security
VOA News February 11, 2005
"If it weren't for Social Security, I guess I'd be out on the street somewhere."
Retired construction worker Harry Byers, Sr. says he depends on his monthly Social Security check from the U.S. government. The Social Security Administration recommends that older Americans should not rely on the government check as their sole source of retirement income. Almost 36 million retirees receive Social Security benefits, and, for most of them, it is only one of a number of sources of income. But, like Harry Byers, many of them say they wouldn't be able to get by without that monthly check. Not all retired Americans depend on their Social Security benefits to meet their living expenses. For many, the monthly check is extra income that allows them to travel or buy an occasional luxury item. But many more find themselves in the same situation as the seniors in Congress Heights. Concern over their well-being is one of the reasons the debate over Social Security reform is likely to remain heated in Congress and across the country.
