Posts Tagged ‘ debt crisis ’

JUST WHAT IS THE CHAINED CPI?

Apr 23rd, 2013 | By Sharon Shaw Elrod MSW EdD | Category: Senior Moments Blog, Social Security & Medicare

Every time a new concept surfaces on the national scene, there is a flurry of articles about it on the Internet. Some of what is written is obviously biased toward one political camp or another. Such is the case with the chained CPI. We thought trying to take a look at it as objectively as possible might be helpful.

First, the chained CPI is part of President Obama’s 2014 budget plan as it relates to Social Security.

Second, a number of government programs (like Social Security) calculate benefits based on the rate of inflation. Inflation is a measure of changes in the cost of living, which typically increases to one degree or another annually. There are different formula used for calculating changes in the cost of



CAN 2012 BE BETTER THAN 2011 FOR SENIORS?

Jan 16th, 2012 | By Dr Jerry D Elrod | Category: Senior Moments Blog

One wonders if a year that begins with a month that has a Friday the 13th can really be a good omen. We were met with just such a circumstance last week. One is pressed to admit that 2011 didn’t turn out feeling all that great. It was the year of a downhill slide for many in the American cultural milieu.

Unemployment, reduced incomes, challenges to the safety net, radical assertions of what may be next in removing security from the social makeup of our nation, more sliding into poverty and homelessness, severe challenges to the educational systems, concern over health care and its availability, more persons relying on food banks, fear over impending loss of jobs, the spectre of the rich getting richer and the poor staying that way are the ingredients that leave a bad taste in one’s mouth.



FORECLOSING ON THE US GOVERNMENT

Dec 6th, 2011 | By Dr Jerry D Elrod | Category: Senior Moments Blog

Maybe the best strategy for dealing with the “mess” in Washington is to declare bankruptcy. We own it. It is ours. Our trustees, the so called Congress of the United States, have messed with, tinkered with, obliterated all reason over a solution to our debt situation. In the worst of worlds, when that happens, ordinarily bankruptcy is the last option. It appears we are right on that line.

Businesses and individuals have faced and had to cave in to this last option. Why not the government? Sure it will create despair and panic, heartache and trouble. Certainly it is not a desirable approach, particularly for all of us who will be most affected by it. But the infection is in the blood stream. It is



SENIORS STOP BELIEVING FINANCIAL MYTHS

Oct 13th, 2011 | By Sharon Shaw Elrod MSW EdD | Category: Senior Finances

Financial Myths Exposed Robert Reich, Chancellor’s Professor of Public Policy at the University of California at Berkeley, said this week that “The president’s jobs bill doesn’t have a chance in Congress – and the occupiers on Wall Street and elsewhere can’t become a national movement for a more equitable society – unless more Americans know [...]



SENIORS:THE DEBT PANEL AND US

Sep 16th, 2011 | By Dr Jerry D Elrod | Category: Senior Moments Blog

Most indicators suggest that seniors, those over 65 and under the care of social security, will not be touched by Debt Panel recommendations for the huge and hovering debt that they are charged to manage and minimize.

Those who watch carefully, however, are already aware of the encroachment on younger persons who are being told and sold the idea that they will never collect on their investment in social security. SCJ has been writing for a year now about how Social Security can be preserved for future generations; it doesn’t have to be changed in order for the program to survive. Erosion of confidence, not unlike the washing away of soil, is a sure fire indicator that something else will be washed away ere long.



Warren Buffett on Taxing the Mega-Rich

Aug 15th, 2011 | By Sharon Shaw Elrod MSW EdD | Category: Social Security & Medicare

Shared Sacrifice Should Include the Mega-Rich An opinion article by Warren Buffett in the August 14, New York Times, confirms what SCJ has been writing about for over a year now.  He says, “OUR leaders have asked for “shared sacrifice.” But when they did the asking, they spared me. I checked with my mega-rich friends [...]



Debt Wars: Elephants vs Chickens

Jul 28th, 2011 | By Dr Jerry D Elrod | Category: Senior Moments Blog

“‘All for one and one for all,’ said the elephant as he danced among the chickens.”

We do not know the originator of this incisive analysis (some suggest it may be Charles Dickens), but I can at least place it several generations beyond the well bred author. A dear colleague, author, activist, academician shared it in one of his many stimulating lectures a number of years back. He was a professor at a well known seminary at the time.

It seems to capsulize where we are now. Brinksmanship was a state of mind during the Cold War. It seems to have returned with a vengeance over the debt issues facing our nation. The chickens include the middle, lower middle, and lower classes of American society. The elephants well, if you don’t know by now, I presume you have had a long Rip Van Winkle nap.