- Published on Wednesday, 02 April 2014 22:22
- Written by Super User
“Come” he replied, “and you will see.”
So they went and saw where he was staying, and they spent that day with him. John 1:39.
117 North 3rd Ave, (910)458-5266 • Kure Beach, NC 28449
KURE BEACH - “Come to me, all you that are weary and are carrying heavy burdens, and I will give you rest. Take my yoke upon you, and learn from me; for I am gentle and humble in heart, and you will find rest for your souls.” Matthew 11:28-29.
9:00 Sunday School
11:00 Fellowship Time
4:30 Youth Group
Midweek Lenten Service: Worship and Soup Supper
Wednesdays: March 12, 19 and 26; April 2 and 9
6:00 in the Fellowship Hall – off North Fourth Street
Faith on Tap: Monday, March 17, 7:00 p.m. at Hang Ten Grill. It’s a young(er) adult ministry gathering. Come check it out! Join us for a beverage, a bite to eat, some discussion of what’s going on in the world and in our lives today, and to wrestle with how the Bible guides us through it.
Surfin’ on God’s Grace,
Pastor: Dan Keck 910-458-5266
Kure Memorial Lutheran Preschool is NOW Enrolling
Kure Memorial Lutheran Preschool is now enrolling preschoolers for the 2014/2015 year. Classes are available for 2, 3, and 4 years of age with two year-old class meeting Tuesdays and Thursdays, three year-old class meeting Mondays, Wednesdays and Fridays and four year-old class meeting Monday through Thursday.
Will Your Social Security Check Be in the Mail Come 2015?
Economist Says Trust Fund for Boomers Has Disappeared
For many baby boomers, it’s comforting to believe that part of the 12.4 percent Social Security payroll tax they (or they and their employer) have been paying is going into a $2.7 trillion Social Security Trust Fund designed specifically to ensure the tidal wave of boomers now retiring will be assured their benefits.
For those already on Social Security, the taxes they pay on a portion of their benefits has also been earmarked for the fund since 1983.
Economist and former professor Allen W. Smith, however, says there is no trust fund – and a number of elected officials, including former President George W. Bush, have acknowledged that.
“To make a long story very short, we are supposed to have $2.7 trillion in Social Security surplus, all earmarked for the baby boomers’ retirement, due to money generated by amendments approved in 1983,” says Smith, who has researched the topic for 15 years and is author of several books, including “The Looting of Social Security” and “Ronald Reagan and the Great Social Security Heist,” (www.thebiglie.net).
“But there’s no money in the fund.” Where did it go? Four administrations, from Reagan to George W. Bush, spent it on myriad non-Social Security efforts.
“Obama didn’t have a chance to use it – it was gone,” Smith says.
The 1983 amendments approved under Reagan generated revenue by accelerating Social Security payroll tax increases, allowing a portion of benefits to be taxed, and delaying cost-of-living adjustments from June to December.
According to the Social Security Administration website: “The surpluses are invested in (and the trust fund holds) special-issue Treasury bonds.”
But what’s actually sitting in the Trust Fund is non-marketable government IOUs – worthless, Smith says.
The fact has been publicly acknowledged by a 2009 Social Security trustees report; Sen. Tom Coburn; and President George W. Bush, who in 2005 said, “There is no trust fund, just IOUs that I saw firsthand … future generations will pay – pay for either in higher taxes or reduced benefits or cuts to other critical government programs.”
Recently, Speaker of the House John Boehner offered a sobering statement on ABC’s “This Week,” on Oct. 6, 2013: “…Ten thousand baby boomers like me (are) retiring every single day – 70,000 this week; 3.5 million this year. And, it’s not like there’s money in Social Security or Medicare. The government, over the last 30 years, have spent it all.”
Smith examines what needs to happen starting today.
• Get the secret out. The total cost of paying full benefits in 2010 exceeded Social Security tax revenue by $49 billion, and the gap between revenue and costs will become larger in the coming years. “On Sept. 27, 2000, I appeared on CNN Today to discuss my book, ‘The Alleged Budget Surplus, Social Security, and Voodoo Economics;’ the host did not take me seriously and asked me if I was ‘a voice crying in the wilderness,’ ” Smith says. “I’d quickly realized that he was right, with the exception of multiple statements by politicians and officials.”
• Get the AARP, NCPSSM and the media involved. The only way the government was able to pay full benefits in 2010 was to borrow billions from China, among other creditors. The public is repeatedly being told by government officials and leaders from the AARP and the National Committee to Preserve Social Security and Medicare that the trust fund has enough money pay full benefits until 2033. “I have tried engaging the leaders of these organizations with my research, but my attempts have been unsuccessful,” Smith says.
• Get the baby boomers engaged in protesting once again. Boomers are no strangers to taking to the streets to express their outrage. However, “I’m beginning to think that it’s going to take missed checks before the public gets raises their voices. Unfortunately, you just don’t know what you have until it’s gone.”
About Allen W. Smith, Ph.D.: Allen W. Smith, (www.thebiglie.net), has devoted much of his adult life to battling economic illiteracy and promoting economic education. He taught economics for 30 years before retiring as professor of economics at Eastern Illinois University in 1998 to become a full-time writer. “Understanding Inflation and Unemployment,” Smith's first book, became an alternate selection of Fortune Book Club when it was published in 1976. “Understanding Economics,” (Random House; 1986), was used in more than 600 schools in 48 states. In recent years, Smith has focused his research and writing on government finance and Social Security. He has discussed economics and Social Security on national television, and he has been a guest on more than 100 radio talk shows. Smith holds a B.S. in Education degree from Ball State University and M.A. and Ph.D. degrees in economics from Indiana University.
First Baptist Church of
Carolina Beach Yard Sale April 5
First Baptist Church of Carolina Beach will hold a Yard Sale Saturday, April 5th from 7 am until 12 noon. Reserve Your Spot Now. First Baptist Church of Carolina Beach 409 North Lake Park Blvd. Call the church office at 910-458-5134 and reserve your spot for only $15.00. All monies raised will support the College age Young Adult’s Class at First Baptist Church of Carolina Beach.
Their goal is to take a mission trip this summer! It’s time to clean out your closets and make some extra money!!! Yes, you keep what you sell and support a good cause at the same time! We have the best spot on the island to set-up and sell your things! We will set-up on the Gazebo side of the church facing Lake Park Blvd!
409 N. Lake Park Blvd. • Carolina Beach, NC 28428