2012 COLA Announcement – Education Key to Saving Social Security
It goes without saying that in anticipation of the upcoming 2012 COLA announcement, Social Security has been a more hotly discussed topic over the past two weeks than at any time over the last 10 years. Needless to say, it is clear that the current system of Social Security is far from perfect, which is something millions of younger Americans are beginning to express worry about. As it stands, more citizens than ever are convinced that the scheme will have vanished by the time they retire, calling for decisive action to guaranteed Social Security for the decades to come.
Generally speaking however, the problem may well lie with the population itself, as many commentators have suggested that education is the primary key to a successful system. The vast majority of Americans are unaware as to exactly how Social Security works, or have something of a very basic fundamental knowledge. It has been suggested that were more citizens fully versed in the ins and outs of the program, they would be much more incline to accept higher taxes in order to stabilize the system. It goes without saying that most citizens are screaming out for reforms, but the fact of the matter is that the general level of understanding is not enough to accept the reforms when they are suggested.
Budget balancing without a reform regarding entitlements or taxes is simply impossible – there is nothing more to it than that.
Exactly what form the 2012 COLA announcement takes remains to be seen, as does the reaction of the public, but what can be safely assumed is that not all will be impressed by any stretch f the imagination, once again calling for a solution which continue to prove so elusive.
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