Retirement is ruined

The future is here and the youngest millennials are now in their early 20s. It is time for millennials to figure out how to explain to their children that Social Security retirement will probably not be available for either generation. How could it be?

Indeed, we baby boomers also have a responsibility to apologize to our grandchildren for taking so much Social Security money, then electing Republicans who wish to draw down the retirement administration. How selfish we really are.

There are fiscal and philosophical reasons Social Security may not survive. I believe the biggest reason is because Republicans do not even believe in socialistic welfare. Republicans believe governmental welfare is evil. Another reason is caused by the recent tax cuts, which are driving the federal budget deficit upward. This may cause our Republican-dominated Congress to rely upon money borrowed from Social Security to buy government securities at market prices, which may go up or down according to the Federal Reserve system chief. Another reason is because Congress borrows money from countries like China, Japan and Saudi Arabia. Congress owes these countries so much money, these countries may just do whatever they want. This situation may cause Congress to take more from Social Security and less from foreigners.

Remember 20 years ago when the federal budget had a $70 billion surplus? What happened? It seems Republicans have ruined retirement for our grandchildren.

GENE MASON Jacksonville