Baby Boomer #1 Applies For Social Security

(CBS/AP)  The nation's first baby boomer applied for Social Security benefits Monday, signaling the start of an expected avalanche of applications from the post World War II war generation.

Kathleen Casey-Kirschling, a former teacher from New Jersey, applied for benefits over the Internet at an event attended by Social Security Commissioner Michael Astrue. Casey-Kirschling, who now lives in Maryland, was born one second after midnight on Jan. 1, 1946, making her the first baby boomer, a generation of nearly 80 million born from 1946 to 1964, Astrue said.

Casey-Kirschling, a self-described optimist, says she's confident Social Security will still be there for her children and grandchildren, reports CBS News correspondent Chip Reid.

But experts say don't be so sure. A staggering 77 million baby boomers will begin cashing in on Social Security over the next 20 years, leaving it with a long-term shortfall of about $15 trillion.

The Social Security trust fund, if left alone, is projected to go broke in 2041, though Astrue said he hopes Congress will address the issue, perhaps after the 2008 presidential election.

An estimated 10,000 people a day will become eligible for Social Security benefits over the next two decades, Astrue said.

[ov442]

Whenever the Bush administration or its GOP supporters try to Justify Spending huge money on their own personal agendas, they tell the public that it will all come back to be paid for by a "robust" economy. Just like his Tax cuts that refunded money to citizens in 2001, and 2003, that didnt do anything for the economy till just before the election of 2004.

However, when they talk about how much money is going to go to the Elderly for these "entitlement" programs, (of which i also include corporate giveaways as ''entitlement''), they dont even MEntion the impact it will have on our economy for these aging adults to receive that money and put it right Back into the economy.
DUHH? the only people that wont put that money back in the EConomy are wealthy people that dont need it. They save their Excesses and Buy stock, which does nothing for the economy.
Its a known fact that 70% of our GDP is based on consumer spending.
What do you think this woman is going to do with her SS check? hoard it with her gold under her mattress?
No, likely pay bills, and rack up more bills, and pay more bills. Spend it on her children and Grandchildren, take vacations, be a tourist, buy a new digital camera, begin a new part time career, invest in capital, etc.
I see no real problem and only a minor shift in policy by the next elected set of politicians (hopefull dems) will fix it.

[mypatch]

You people need to do some research. First of all Pres.Johnson opened the door to borrow from the SS. I believe he was a democrat. Second, we are not putting money in for our future. We are contibuting so the present SS retirees can collect NOW. 3rd, if all those democrats would go out and vote for a democrat then no one could complain. right.

[l8c6]

Ron Paul has been a member of the party that has hosted the neo cons for a good 2.5 decades. Which is the republican party endorsed by Pat Robertson, Ted Haggard, Ann Coulter, Rush Limbaugh, the list goes on.

Ron Paul has been at the neo con trough for years and now he wants to disassociate with that which he has been a member because it has gone bad.

It''s a group of republicans that liked the early days of neo con euphoria who want to follow this man back in time to the promised days of the early neo con movement.

Their disconnect is that it was these early days that seeded the way for current abuses. Bush still promotes the rhetoric that Ron Paul promotes. Privatization, limit government involvement, "free market".

Ron Paul''s ideological underpinnings provide the loop holes for sociopathic control that eventually could throw this nation into dictatorship.

[simonsez40]

The Baby Boomers put Bush in power - and have made a mockery of our nation. I''m not a big fan!

[bamaborne-2009]

Since we''re talking stats, let''s see some ones...

Of the 80M B/B born between 1946 and 1964:
1. How many are still living?
2. How many are contributing to S/S?
3. How many are already on S/S of some kind?
4. Breakdown the numbers:
a. How many are receiving Aids to Families w/Children?
b. How many are receiving WIC/FoodStamps/Welfare?
c. How many are receiving SSA/SSI?
5. How many are living in poverty?
6. How many are millionares?
7. How many are already living in Retirement Homes?

%u2026 and the list goes on?

Bottomline: When you%u2019re talking about S/S, what pool of money is included, who contributed the money, who is currently managing the money, and who, exactly, is eligible to receive it?

[antoniof123]

The Republican''s have done so much for us with a 4 trillion dollar increase in the debt. Why not have a Republican tax and let them pay for the war and not have any S/S and the rest who want S/S pay a tax for that. In fact neocons lets take it one step further. If you don''t want abortion then yes, we make it illegal. But you pay for it all of it because we don''t know which mothers wanted them or not then the IRS makes you pay the extra taxes to support them for the rest of their lives. I am sick of these so called religious neocon fascist wing nuts spending my money on there holy wars and holy beliefs. You people have really pissed of the middle of the road this time and I really don''t care what you have to say anymore.

[bobebenson]

"When have Politicians ever given anything to the public that they didn''''t take from them first?
"There is tax after Tax on Gas, Gasoline, Tobacco, income, outgo (property), Savings, and everything else the lower portion of wage earners have to deal with everyday just to live."

Quit Smoking, ride the bus and RENT! No cigarette costs, no car payments, no insurance, no property taxes, no homeowners insurance, no school taxes, (If the water heater blows up and ruins the carpet, it''s THEIR WATER HEATER and THEIR CARPET! Save all this money and PARTY! :-)

[olebd]

Meanwhile, a person who serves in congress for just one term is eligible for a $1,500 per month pension.

Fix what is REALLY wrong and Social Security will remain strong.

[hwy71so]

I doubt I live to be that old. But, since I''m putting into the pot, I should be able to receive my return.

Sometimes I hate that I''m in the mix of baby boomers. I think our generation has brought more trouble on this country than any other before or since.

And now? We''re trying to appoint a queen.

[navyretired2]

Dr. Ron Paul is on America''s side on all hot topics of today. It never fails that I read a headline or hotly debated article on this site and several others, bounce it against Dr. Paul''s stance, and agree with him. MSM and corporate influence be d@mned, this guy is our best hope to right the ship.