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Since the recession has begun, Congress has been
extending unemployment benefits again and again.
Becoming unemployed in your late fifties is always hard,
and especially so during difficult economic times such as
The proposal here is to transfer such unemployed from
system to the Social Security system.
While much is made of the fact that Social Security is
going broke, doing this transfer will not materially
that situation, since those in their late fifties are quite
likely to start getting benefits within 5 years anyway,
and get them for many years. Further, since
unemployment benefits keep getting extended, it's a
"zero sum game" in terms of immediate cash outlay.
Whereas a real benefit can be realized by the entire
workforce if these same people actually stopped
In fact, given the times, perhaps some consideration
should be given to federal volunteer early retirement --
just as is sometimes done by corporations to turn over
personnel and reduce payroll costs due to the entry of
entry level personnel.
For idea readers of a certain age [theircompetitor, Aug 12 2010]
||And here I thought you were talking about Wolverine.
||I knew what Logan's Run was, which is why I was confused how a guy who left civilization gets a pension. I also know they are deferring Social Security till 65 these days, the retire at 55 is as old a reference as Logan's run. A more accurate Logan's Pension would be a hammock in a third world country purchased with what little savings you had saved up before leaving a first world country or maybe joining the Peace Core. (-)
||"Corps", darn, I wrote that the first time. That's what I get for posting before my initial caffeine dose.
||Sounds complicated. From the title, I assumed you were proposing to replace the life-contingent annuity with the annuity-contingent life.