Social Security needs an overhaul to save it - WLOX.com - The News for South Mississippi


WLOX Editorial:

Social Security needs an overhaul to save it

Something happened recently that should alarm us all. For the first time in more than two decades, Social Security has started paying out more benefits than it collected, a total of 29 billion dollars more for this year. The problem is our government has been borrowing and then spending the money you pay into social security for other purposes.

The government does issue an IOU and claims that's better than borrowing more from foreign nations. But experts say, by 2037 the entire system will be bankrupted unless something is done to overhaul it.

We really need our government to learn to live within its means. Right now our national debt is about $12.5 trillion, which means each man, woman and child in this country owes about $42 thousand.

So what can be done? Proposals include, delaying the age retirees can draw social security, including raising the age for full payment to 70 years old. Reducing the amount a person receives from social security and even increasing the social security tax we pay.

Many Americans depend on Social Security as their main source of income in retirement. They've paid into the system and expect it to be there.

What can you do now? Call or email your U.S. Senator and Congressman.Tell them something needs to be done to make sure social security remains a reality for us today and for future generations.

That's our opinion, we would like to hear yours. Email your thoughts to editorials@wlox.com, or post your comments below.

David Vincent
WLOX-TV General Manager

©2010 WLOX. All rights reserved.

  • NEWSMore>>

  • Three people shot at Biloxi nightclub

    Three people shot at Biloxi nightclub

    Saturday, January 20 2018 3:37 AM EST2018-01-20 08:37:34 GMT
    (Source: File)(Source: File)

    Biloxi Police are searching for a man they believed opened fire outside a nightclub late Friday, injuring three people. It happened in the parking lot of the Horseshoe Lounge, a gentleman's club on Veterans Avenue. 

    More >>

    Biloxi Police are searching for a man they believed opened fire outside a nightclub late Friday, injuring three people. It happened in the parking lot of the Horseshoe Lounge, a gentleman's club on Veterans Avenue. 

    More >>
  • Two arrested for burglary and restaurant fire, police say

    Two arrested for burglary and restaurant fire, police say

    Friday, January 19 2018 9:43 PM EST2018-01-20 02:43:18 GMT
    Police say the suspects took a safe and a cash register before setting the restaurant ablaze. (Photo Source: WLOX)Police say the suspects took a safe and a cash register before setting the restaurant ablaze. (Photo Source: WLOX)

    Two men have been arrested after they allegedly stole from a Saucier restaurant and set the building on fire. 

    More >>

    Two men have been arrested after they allegedly stole from a Saucier restaurant and set the building on fire. 

    More >>
  • Defense rests in trial of nurse charged with manslaughter

    Defense rests in trial of nurse charged with manslaughter

    Friday, January 19 2018 9:34 PM EST2018-01-20 02:34:06 GMT
    The manslaughter trial for Carmen Brannan, pictured here in court in May 2017, began Thursday. She is accused of denying medical care to a patient in the county jail. (Source: WLOX)The manslaughter trial for Carmen Brannan, pictured here in court in May 2017, began Thursday. She is accused of denying medical care to a patient in the county jail. (Source: WLOX)

    The defense rested late Friday night in the trial of nurse accused in the death of a former patient.

    More >>

    The defense rested late Friday night in the trial of nurse accused in the death of a former patient.

    More >>
Powered by Frankly