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About Baby Boomers - The American Dream or A Nightmare ?

What’s The Story Jerry About The American Dream ?

 A letter from Mr. & Mrs. John Doe, 123 Main St. , Anytown, USA.

               Hi, my name is John Doe and I am 57 years old and my wife Jane is 54, let us tell you our story of the American Dream. You see we both grew up in a neighborhood where there were 3 bedroom cape cods & ranch houses, some with American made brick fronts, and every family had one American automobile and maybe an American Zenith black & white television – with 13 English speaking channels to watch, our mothers were housewives and took care of – getting us off to school which most of us walked and some got on GMC buses, making our lunch on American Bread, cleaning the house with American made products, helped us with school work, did the wash in a GE washer & ironed our clothes with a GE iron, made supper on an American Tappan gas range and taught us manners. Our fathers went to work and made decent salaries enough to raise 3 kids, owned a house with a VA no money down mortgage, own 1 car, take vacations in America, buy American poultry, beef, American caught fish and other foods, American made clothes and entertainment for the whole family, with enough money left over to go to the local bank to deposit CASH in a pass book savings and Christmas club account. Both of our parents went thru the Great Depression in the 1930’s as children, our families fought generations of wars to defend America and worked very hard for what they had. You see Jane and I, and most Baby Boomers, were not satisfied with that picture of life and wanted to live for the day, not worry about tomorrow, we were going to change the world and do better than our parents. I remember arguing with my father when I bought (not leased) my first car with the money I earned from selling newspapers and working part time after school. It was a new style imported car and my dad tried to talk me out of buying it explaining to me that for every imported car sold an American loses his job forever, and by not buying a Ford, GM, or American made auto would eventually hurt our economy and I laughed at him and replied that the foreign cars are cheaper and made better, and my dad laughed back and said “son – cheap today expensive tomorrow”.

 

Hey, wake up its 2008 and Here’s The Story….

Look at all of those new, big, beautiful houses for sale in America.

                Hello, Mr. Mortgage Broker, remember me, John Doe. I was hoping could you take this house off my hands, it is a - beautiful custom built 2 story house, great neighborhood, no neighbors (they all have foreclosed), with 3800 sq.ft. living space, 4 zone heat & A/C, full finished basement, custom imported kitchen cabinets, imported granite countertops, top of the line imported appliances, imported designer ceramic tile floors & Brazilian hardwood floors throughout, 5 bedrooms, 3 & 1/2 baths with all imported plumbing  fixtures, 3 car garage with imported door openers, and fully landscaped by foreign illegal immigrants. Mr. Mortgage Broker can I trade our house for - a 1 bedroom pre fabricated townhouse somewhere in the country? Please Mr. Mortgage Broker I really need a place to live for me and my wife. We didn’t realize 5 years ago that the housing market would collapse and there would be no jobs for us here in N.J. and we spent all of our money and borrowed up to our necks to move up to the ultimate American Dream. Please, please Mr. Mortgage Broker we will also throw in all of our imported designer furniture and contents, even the imported cappuccino machine, and you can also have our new ultra designer imported stainless steel gourmet cooking center outdoor grill because we have no where to move it, and we can’t afford a storage facility, do you know they are charging as much for garage rental as our first house mortgage cost. Yes Mr. Mortgage Broker we did ask our children if they could help pay but they are already in debt to their ears, working 2 part time jobs, with no health insurance and they can’t afford a place to live so they sleep in our leased imported SUV that we hid from the repossession company last year, they park it at the W-Mart parking lot and move it around every few days. And yes we did have a large inheritance from our parents but we spent all that money on things we deserved like 2 imported vehicles – 1 sport model, 1- SUV with 24” GPS screen, imported jewelry, imported watches, imported designer clothing, a vacation villa in CanCun, 6 European and Caribbean cruises, golf memberships in all the islands, international vacations, cosmetic surgery in France, you know the kinds of things every American family has to have. Please Mr. Mortgage Broker take this Big White Elephant House from us today so we can start a new life, we are near retirement and we have no pension or healthcare, we figure the state retirement plan will take care of us, so we buy a New Jersey Lottery ticket every day with our extra money. Yes Mr. Mortgage Broker I understand your company is subsidized with foreign bonds, foreign stocks and trusts and that’s ok with us because me & Jane are used to buying imported products from foreign countries and it makes sense why shouldn’t we use imported money – kind of like designer cash we like it. After all the foreigners take care of us and their money is probably better quality than U.S. money. One more thing Mr. Broker do you think you could buy us a Happy Meal with a free large soft drink if I give you my designer C imported handbag, I won’t need it anymore. Yesterday we traded a Swiss imported R watch for a barrel of chicken with all the fixins from Kentucky Fried Chicken, and there are still 2 legs and a biscuit left for breakfast.

           Mr. Mortgage Broker as soon as you finish the deal on this house I am sure we can do business in the future when we re-qualify to buy another house again. You see since I lost my management job with the Big Blue American Company that downsized last year, and the Large American Company that Jane worked for closed up after global consolidation changes 2 months ago, it will take some time for us to get back on our feet again. My dad just turned 83 and is a store greeter at big W-Mart store. Dad says since Jane has a college degree from 1972 she should qualify for a job at the auto parts register at W-Mart. And for me, my unemployment ran out and I don’t have a college degree, but I have a few contacts and I keep searching for a good job. One of my sons best friends told me he would help me fill out a job application at H-Depot and he will talk to the night assistant manager Tony. I should be able to work part time at night unloading forklifts. H-Depot is a big company and as soon as I become a full time employee I will qualify to pay for 50% of the cost for my health insurance and $2500 deductible, as an added benefit they will offer dental & eyeglass coverage which I qualify to pay for myself in full for coverage. And if things work out I can participate in the 401k plan and put in as much money as I want for retirement. Of course this doesn’t cover Jane’s health insurance but she looks healthy to me and I don’t think she needs insurance since I am the breadwinner.                       

Short Story by Jerry Copyright2008     

 

Social Security- What Us Baby Boomers Were Told

  As baby boomers we have contributed more money to Social Security than any other generation. We have all carried the burden of prepaying for our own retirement in addition to paying the benefit of the generation of our parents. Our government told us we had to pay, and we did, but they did not keep their promise to us to pay our full benefit. We had confidence in our government until 2004 when the Federal Reserve Chairman announced that Social Security Benefits would have to be cut. This same Chairman- Alan Greenspan, who led the 1982 presidential commission on Social Security claimed to repair the baby boomer financial problem that would start when the baby boomers begin to retire in 2010. In 1983 congress found the solution- tax the boomers heavily with upfront tax collections to pay for them and their parents retirement. We paid to the tune of $1.5 trillion in Social Security surpluses since 1983, and continue to pay the trust fund over $402 million each day - which was to be enough reserve for full benefits until 2042- approx when the youngest baby boomers were to be 78 years old.

Here we go again! President Bush tells us that due to the large amount of baby boomers nearing retirement we are the problem once again. What happened to all of the economic calculations from 1983 for figuring for the unbalance of retirees and workers? Well as with most politicians promises and ideas I have the same theory - if it looks like _ _ _ _, smells like _ _ _ _, tastes like _ _ _ _, then it must be _ _ _ _! They sold us a sack of _ _ _ _, and borrowed & spent our surplus tax dollars for the past 20 years. Our leaders have carelessly spent over $510 billion of our retirement and disability funds and violated federal law.    Story by Jerry 2008

 

 

Presidential Candidates – Who is the best for America?

I am usually the first to say that most politicians are the least concerned about you and I and in general they are out of touch with reality and have no clue about middle America’s voice, wants or needs. In November there will be new elected officials and choices will be made with your vote, or without your vote. As election day is around the corner we will be faced with making a “choice” of the running candidates to elect for President. For the next several months the media will bombard us with negative & positive political news coverage, debates, advertisements and tv/radio headlines, which we will have to sort through to seek the most trusting of politicians running. Right up until the last minute as we enter the voting booth to make our selections, we will have flashbacks of highlights of what we remember from each of the candidates on the ballots. The easy way out of making a decision is not making one at all and not voting, but the American traditional way is to exercise your right to vote and elect the best person that you feel shares the same interests in America as you do. To prepare for election day be aware of the current issues on the political table and how each candidate responds to those issues. Try to read between the lines and phrases of each person and pay attention to their character, eye contact, facial expressions and body language, these signs are like a lie detector test and should be a part of your voting decision.

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