In 2013, AMAC—The Association of Mature American Citizens—took a big step with the creation of the AMAC Foundation, Inc., a registered 501(c)(3) non-profit entity designed to serve Americans. The Foundation’s mission is to help protect and ensure the financial security, health, and social lives of current and future mature Americans, and to help Americans navigate the bewildering array of decisions they need to make.
The Foundation’s projects and plans include providing factual information that improves understanding of the positive value of Social Security and Medicare and the current and long-term challenges these programs face, as well as providing interpretations by Certified Social Security Advisors through AMAC publications, workshops, webinars, podcasts, and telephone support.
In addition, the Foundation serves all Americans in a variety of capacities, including provision of a source of education on the principles of American Free Enterprise, long-term retirement financial planning, and preparing for life—and potential employment—after retirement.
We invite you to learn more about the Foundation and its operations at www.AmacFoundation.org
Even candidates for president have commented about the availability of the 2030s reserve the government accounting continues to advise the public it has. That reserve is the excess the more than twice the normal number of persons in an age group puts in the fund during their working years. Yes, the government owes that reserve to the WWII Boomers, but what is continuously kept undisclosed to the public, is that all of that reserve, which is not in a separate bank account or invested, but is a demand on the treasury for those Boomers, it being held in the treasury.
Another human variability, occurring in the same time frame, the more than doubling of life expectancy after retirement age 65, that extra Boomer money in the treasury was all used up by us oldsters, I’m 96-31 years on Social Security, most legitimately but without a record that the Boomer reserve has all been used up by us oldsters as of 2010 when the misappropriated IOUs were beginning to be charged to the current budget.
If the ratio of retirees to supporting taxpayers has more than doubled since it was started, more than doubling the
funding necessary, how could there possibly be that 2030 reserve with cash value? But what is going to happen to the budget when those Boomers. more than twice the normal number of individuals in their age group retire from support to benefit side and their children and grandchildren, a below normal number of individuals in their age group, are stuck with that expanding bill in the next presidency? Boomers are already retiring.
I have been trying to get this information to the public for over a year with letters to conservative organizations, political leaders, and the media for over a year, yet there has to date been no response or appearance in any of the media to my knowledge. There is only one way to soften the tremendous effect those Boomers mass retiring in the next presidency, give a 20% or so charitable reward to any and all from Social Security to any potential retiree willing to delay their retirement as many years as they will accept that contribution to their retirement savings. Otherwise, the demand for a big tax increase will be put on their children and grand children to pay their benefits.
That of course is in no way a settlement of Social Security’s financial problems, just a temporary softening of a possible bankruptsy in the next presidency as those Boomers retire in mass, or delay a few years contributing substantially to the budgets of their children and grandchildren..
Carroll H George, Research & Development Mechanical Design Engineer, Ret.( Born 1919)