Solvent and Secure

By Mike LeBarre

Social security is in trouble and it is time that we finally secure the promise our government made to us so many years ago.

The status quo politicians will never deal with the problem, instead, it's borrow more money and leave it for others to deal with. All that matters in Washington is getting re-elected and they will say and do whatever it takes to keep their jobs. I am not a politician and I have developed a program that will finally ensure that Social Security will be Solvent and Secure.

First, to be absolutely clear, this plan will not change Social Security for anyone currently receiving benefits or will be within the next 10 years. For everyone else currently working, nothing will change unless you want it to. Those entering the job force after the implementation of the Solvent and Secure program will participate in the updated version of Social Security.

The two main problems that caused Social Security to be insolvent is the fact that the Federal government could not keep their hands off the trust fund and that more retirees will be entering the system than workers paying into it.

The Solvent and Secure program is designed to use two problems, Social Security's insolvency and our national debt, to create a solution that will give us a 10 year window of opportunity where the amount of recipients will level off and begin to decrease, relieving pressure from our budget and allowing us to finally make Social Security Solvent and Secure.

The Plan:

Under the Common Sense 10 year plan, we begin a series of benefit buyouts for individuals that will be entering into the system within the next 10-20 years. These buyouts are conditioned upon entering into the Solvent and Secure updated Social Security program. These buyouts will be used to purchase foreign held U.S. debt at a return rate of 3.25%, and your account will earn interest backed by the full faith and credit of the United States.

Some of the benefits these accounts will have are,

-No taxes on any withdrawals
-Real money in your account
-Your account keeps earning interest
-Continue working with no penalties

It will work like this,

The Social Security Administration will open your Solvent and Secure account. You will begin to make contributions into your account, then your contributions will be used to purchase foreign held U.S. debt that will pay you interest backed by the full faith and credit of the United States. When you are ready to retire the only question you have to answer is how long of a payout do you want.

As the size of the fund grows, you will earn additional interest by lending money just as the Federal Reserve does, except, instead of that interest going to the Federal Reserve it will now go to fund the retirement of American workers.

This program allows Social Security to be Solvent and Secure and is backed by the full faith and credit of the United States.