Energy Finance

Headlines in the Houston Chronicle today reveal a plan by Mr. Obama to cut Social Security and Medicare programs.

Excuse me?

No details were given. Hopefully, the plan is simply to find and stop any sort of doubled benefit payments, or payments to people who do not qualify for benefits. Surely he does not intend to cut proper benefits? Someone, say it ain’t so!

Because of the phase-out of federally insured pension plans (I don’t personally know anyone, other than myself, who is still working and has such a pension plan) and due to the dissolution of value from 401k’s and other retirement plans, many babyboomers who must soon retire count on their social security benefits and medicare health plans to help see them through retirement with food, shelter and health care - as they should!

If basic benefits are reduced in any way, you can expect to see AARPs in RVs and fifth-wheels on the road to 1600 Pennsylvania Ave. in short order. That’ll be me leading the way.

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