ENTITLEMENTS -- BALANCING THE BUDGET

The word entitlement is used to describe something that is yours, something you own, something you have a right to.

Isn't it odd that this word, entitlement, has come to mean "charity, welfare" something given to freeloaders. You know, social security freeloaders.

As I recall, and I do recall it correctly, I have been paying in to Social Security since I was 15 years old. Not only me, but my employer also paid in an equal amount. That totaled about 15% of my income, gross income, before taxes income. This was not just me, it was every earner, and it was not by choice.

So, let's see. If I averaged $30K over my working life, that's about $220,500 earnings. The fed collected about $4,500 each year to pay for my security in my old age. Well, they invested my $4,500 each year to pay for my security in my old age.

Now, about that investment. If they invested for me at 5%, after 49 years I should have an investment account worth $892,919.98.

If I took out only 3% per year, I would receive $26,787.60 per year and it would last better than 30 years (until you're 95 if you retire at age 65) and that's with no interest paid on that final amount on deposit!

If I bought an annuity and it paid 4% per year, I'd have a lifetime income of $2,976.40 per month.

The folks inWashington have pulled off a bigger Ponzi scheme than Bernie Madhoff ever dreamed of.

Entitlement, charity, welfare, handout, my foot. I paid cash for my social security insurance!!!! Just because they borrowed or stole the money, doesn't make my benefits some kind of charity or handout!!