New Seniors

Based on the current rhetoric, Medicare has become “Mediscare,” but neither political party seems to let the truth get in the way of their agendas. Those of us 65+ have a vested interest in the effects of health care reform, as do citizens of all ages. The problem is Medicare has already been targeted cuts of $500 billion, which few talk about.

Half of likely voters oppose the president’s budget proposal, according to a recent Rasmussen poll. However, the budget passed by the House (the Ryan plan) is considered unacceptable by some, particularly younger voters. With nearly 50% of Americans receiving entitlement dollars, it will be difficult to balance the budget or come close to it without re-evaluating government programs once considered to be untouchable.

If you’re like most Americans, the value of you home has already dropped significantly. And, home prices have continued to decline so far this year. There’s no real recovery in sight as attested by a recent poll showing just 15% of homeowners believing their house will be worth more next year. A look inside the numbers indicates the future is troubling.

The United States is the number one producer of corn in the world. We grow twice as much as second place China and more than the rest of the top ten combined. An important food commodity in countries around the globe, corn is also an ingredient in many processed food and in many non-foods products we use daily. American farmers will plant a record 92 billion acres of corn in this crop year. But there is a problem.

Over the past few weeks, I talked with several acquaintances that were retired or qualified for it. I asked each one how they enjoyed their new status and what they do with their time. The answers are surprising as well as disappointing.

Why? Because food prices climbed 3.9% in a single month, due in part to vegetable costs jumping by 50% along with higher distribution costs resulting from soaring gasoline prices. Petroleum price hikes are also responsible for higher prices for many products purchased by those 65+ as well as anyone on fixed incomes.

Nearly 70% of US citizens are dissatisfied with the federal government’s size and the power it wields. And 7 out of 10 adults surveyed believe the moral and ethical climate of the country is wrong, which represents a seismic attitudinal shift in less than a decade.

What New Senior can forget being given the distinction of licking and pasting a kitchen drawer full of S&H Green Stamps into the collection books so Mom could go to the redemption center and turn them in for merchandise rewards? It could have been Top Value, Triple S, Plaid or Blue Chip stamps. For many years, these bonus stamp programs played a big part in determining where American families shopped.

The finger-pointing continues as the economy remains stalled, unemployment stays high and inflation creeps into all our lives. Politicians blame the opposing party. Voters think both sides are responsible. Most Americans believe they know more about economic issues than their elected representatives.

The national debt has increased to more than $14 trillion dollars as of mid-February, 2011. This translates to about $125,000 per US household. Without serious spending cuts and major changes in the way government handles the money we entrust to it, future generations will drown in a sea of debt, which we created.