Bits and Pieces

Worrying Seniors: all of us rely on Social Security and Medicare. Almost all of us. That’s why politicians and their party manipulators claim that Social Security, Medicare and Medicaid are all deficit producers and are on the chopping block. This is not true, however, and is the face of public farce writ large.

Future of Social Security. It pays its own way. The FICA ‘tax’ system is really a premium payment system. Both the employer and employee pay their share of this premium. The revenues are accepted by the federal government but kept separate from general tax revenues. The Social Security premium dollars are used as needed to support ongoing retiree payments of covered individuals as they age into active status in the system. Congress sees the huge bundles of money in the deposit system, then borrows it to fund the national debt. They pay a modicum of interest for this privilege, certainly not as much as the system could earn if they lent their cash reserves to banks and other investors.

Congress continues to fiddle with the system to enhance retiree benefits and then boost premiums to everyone. The system, however, is self-funding and does not rely on Federal tax revenues.

Medicare’s Funding is another such issue. Premiums are paid by those who will be covered at the appropriate age, and benefits paid only then. The system is self-funding, like Social Security. Medicare has cash reserves which the Congress borrows to fund the national debt. Again, they pay only a modicum of interest on such borrowings. The fact remains, Medicare is in good financial shape and should remain that way for many years to come. If more funding is needed, it will increase premiums or reduce benefits payable just like they always do.

Medicaid Lifeline is a different situation. Medicaid benefits go to those people who have insufficient funds to maintain needed, basic healthcare. The system is paid by the individual states, taxpayers, and subsidized by the federal government. This system has always been a shaky financial problem, but states have found the funds to keep the system alive over and over again. They will continue to do so by finding other sources of funding the system.

Bears’ Stadium: The Chicago Bears Football team plays in a publicly paid-for stadium. Has for years. First Soldier Field, then a remodeled Soldier Field made so ultra-modern it negated what Soldier Field was all about. For some reason, the Bears feel the public should pay for their stadium space. Let’s see, the public pays but does not get a free ticket to attend the games. Even televising the games earns the Bears funding, but still no tickets for the public.

Then, the Bears plays the card that the current Solider Field isn’t as good as it needs to be for them. You know the drill; they want a domed facility like so many other urban teams. Well, they should have a domed facility, but the public has paid for all of their other facilities, so why should they continue to do so? First of all, citizens still pay for tickets if they are to attend a game, second, the new $2 Billion facility doesn’t guarantee a winning team. Such has never been warranted, and they can’t deliver whatever they claim. So, a public facility for the Bears is not a good deal. Yes, the Bears create economic activity, but then we all have paid for that by city, county and state. If they want a free facility, let Arlington Park pay for it. Not the county, please. And certainly not the state.

If the Bears played better ball, we might be willing to listen. But this has rarely ever been the case. And they know it. Earn it folks!

April 26, 2024

 

 

Comments

Post a Comment

Popular posts from this blog

Intimacy

As we mature, we become deeply involved in relationships. Some of this is basic family relations – siblings, parental – and the like. Next is friends who enter our homes and we theirs. Neighbors, classmates, mutual hobbyists and so forth. Then we develop friendships that go much deeper. We comfort one another when we are hurting physically or emotionally. We discuss the matters of life and learn much more about ourselves and each other. We can even anticipate how others will react to various situations and stimuli. Good friendships do not spread to everyone we know. No, good friendships are special, close and deeply personal. We focus attention and brainpower on these few friends. Some special relationships focus on specific topics of interest and importance. Yes, we have specialized friendships. Most common. But one day, we get to know one person very well. An emotional connection forms with deep roots. A need to know the person more fully expands in personal ways. We sense this b...
Read more

Bits & Pieces

Pie: Apple pie more specifically. With Thanksgiving just passed, many of us enjoyed a good apple pie. Sure, there was pumpkin to accompany the turkey, but in our family multiple pies are offered in the holidays. Apple is surely one. Pecan, pumpkin and others, too. But I almost always choose apple. When I was in college, I was asked what kind of pie did I eat most often. In front of my mom, I answered apple, because I was always looking for a pie as good as mom’s own. Of course my mother was pleased, but it was a true statement just the same. When I was married, Ann’s pie was darned good. Her mother’s recipe. But we fiddled with the recipe until it took on its own generational name, and boy, was it good! Today I still order apple pie for dessert because I am always looking for a great pie to challenge our family recipes. I rarely do find such a prize. Do others do the same? Do you search for a great pie of choice, continually? If you do, what’s your story? Why do you do this? ...
Read more

Remembering Tom Sherlock

Tom Sherlock died on Wednesday, April 3rd. He was 65 years old and did not survive a heart surgery. That was his unexpected end and sad enough. But there is more to his story. Tom joined Dan Schuyler and George Safford to create what became the Village Chronicles, a weekly newspaper serving Warrenville, Illinois. That paper expanded to serve Winfield and then West Chicago. The paper published for eight years and built a good reputation for itself. Tom served the paper in several ways. He was our information technology guru, provided hardware and software to support the paper's operations. He was our sole bookkeeper, accountant and financial manager. He designed our distribution process and provided office space for meetings and layout and typesetting. His efforts supported the work of 32 volunteers who wrote and reported on the communities we served.  The newspaper broke even financially most of the time, but it was a struggle. Tom managed to find money to keep the newspaper afloat...
Read more