Unstructured Thoughts - What are you thinking about now?

[dusty]

All this talk about reducing the 'deficit'. IMHO we are way overdue reducing the 'debt'. That was my 'opinion' over 40 yrs ago. The hole is much deeper today!

Debt or deficit? These are two different animals.

[JPG]

Debt or deficit? These are two different animals.

My point exactly. We need to make our debt smaller, not merely allow it to grow more slowly by reducing the deficit.

Debt is what we have already borrowed. The difference between less income and greater spending creates a deficit which requires increasing the amount borrowed.

Those individuals in DC have us confused regarding this simple fact. All too many do not make(or understand) the distinction.

Reducing the debt is moving to correct the past problem(s). Reducing the deficit merely slows down the growth rate of the problem.

[ryanbp01]

Didn't get the garden planted over the weekend (too much rain). I'm thinking of planting rice instead.

BPR

Well, so much for rice! Looks like I'll finally get things planted this weekend.
BPR

[swampgator]

Got one credit card paid off completely yesterday. Credit card destroyed. Will call in a few days to close the account. In just a couple of months, will have the other one paid. Then on to pay off the electrical wiring of the house. (Had to have it redone to qualify for insurance. Still can't get it on this old house.) Then to pay off the car and I'll be completely out of debt. Can hardly wait on this federal retiree income. This will only work if they continue my retirement pay that I paid into for 35 years. Dont' qualify for Social Security as we paid 7% of our income to our retirement system that was put in place in 1921. Makes my nights rather sleepless. Just my personal concern.

[dusty]

Got one credit card paid off completely yesterday. Credit card destroyed. Will call in a few days to close the account. In just a couple of months, will have the other one paid. Then on to pay off the electrical wiring of the house. (Had to have it redone to qualify for insurance. Still can't get it on this old house.) Then to pay off the car and I'll be completely out of debt. Can hardly wait on this federal retiree income. This will only work if they continue my retirement pay that I paid into for 35 years. Dont' qualify for Social Security as we paid 7% of our income to our retirement system that was put in place in 1921. Makes my nights rather sleepless. Just my personal concern.

Hmmmm, I thought that everyone who earned a wage had to pay into Social Security.

I suggest that you not be too quick to close your accounts. It is great to have a "zero balance" but you need the credit account for the history and rating.

[robinson46176]

Hmmmm, I thought that everyone who earned a wage had to pay into Social Security.

To my knowledge most federal government workers have their own system. Like when I worked for the postal system part time (sub rural carrier) I was like any regular worker at another job but the civil service guys were handled completely differently.


.

[JPG]

To my knowledge most federal government workers have their own system. Like when I worked for the postal system part time (sub rural carrier) I was like any regular worker at another job but the civil service guys were handled completely differently.


.

And then there are the 'Railroad' guys!

[dusty]

Yes, railroad retirement and postal service retirement are NOT social security but they are a retirement plan into which the employee is obligated to pay on a monthly basis - are they not.

As such, they result in a monthly payment that we are inclined to call our "monthly retirement check".

Social Security is also a retirement plan into which workers, who expect to draw Social Security, are obligated to pay.

These all differ from my defense contractor plan which I was not obligated to pay into but rather "opted to pay" in order to have a retirement check.

[terrydowning]

Came outside to check the mail this morning to find my mailbox knocked over and broken. Some idiot must have hit with his car because it WAS an iron mail box set in concrete. No note, no knock on door last night. Just wet mail from the box being broken open and spilled onto the lawn which is watered at 6:00 AM.

Now I have to play investigator and find out which neighbor was having a party last night. I know there was a party somewhere on my street due to the multitude of cars and the empty beer box and other trash just around the corner. my son also heard drunks milling around last night.

I hate stuff like this!:mad:

[swampgator]

Hmmmm, I thought that everyone who earned a wage had to pay into Social Security.

Just to clarify, Federal Employees had a retirement system which the Social Security System is based on. At early as 1921, Federal workers (including TVA, Postal) paid 7% of their incomes into the Civil Service Retirement System (CSRS). The agency for which you worked was supposed to match it dollar for dollar starting in 1956, but never did. So, in 1983, all new hires for feds were to pay into Social Security, no longer pay into CSRS. Now, the agency has to pay the matching 6.25%. In addition, these new hires could invest up to 10% of their remainder income into a Thrift Savings Plan (TSP) like a 401(k) plan. You could manage that money into and out of a variety of investments. Under the old plan, you could retire at 55 if you had 30 plus years. For me, I had to pay the 7% into the retirement fund for the 4 active years in the military since I had to pay Social Security then, but those funds could not be transferred into CSRS. So, paying those funds brought my time up to 35 years at age 55+ so I could retire because of my job being contracted out. Those new hires from 1983 including TVA and postal are under Social Security. In addition in 1983, all Federal workers began paying into Medicare. No waivers were allowed. So, I have now a piece of paper from my Civil Retirement service center telling me that I have to pay up the additional Medicare and choose Medicare as my primary insurance at age 65. My present insurance then becomes a supplement. So, I've some research to do, some decisions to make and some actions to follow. When I started in 1972, I never thought I would have to do this. But, this is not the LAST rule change.