A Broken Social Welfare System In The States
Updated: Jul 17
Haven't been updating the blog for a bit after returning to the States.
A whole lot of more groundworks needed to do before a final decision's made whether in proceeding to build the coffee marketplace/social platform to promote the Taiwan Coffee Industry. As well, assess my personal health condition if fitting into the hazardous living environment in Taiwan.
But, at the beginning of the month, I heard and witnessed two different sad stories to trigger me sharing my personal thoughts today.
The first story was abt I gradually had a chance to meet with the widow of an ex-colleague, who passed away in Liver Cancer, to see whether their family is doing well. That sad news is still shocking me at heart. I never expected he left so suddenly. My memory still served me well that l last had lunch with him not too long after I left my position at the e-commerce platform. Bc if he quitted his executive position in the US and moved onto another executive position in a China corporate, he no longer had any US insurance to cover the ridiculously high medical expenses and was being forced to be treated his cancer oversea. And this delay might have caused his life.
The second story was about a 67 years old Indonesian lady I saw at the regional park. She's homeless with two past marriages and abandoned by her son, who wondered with a shopping cart of belongings in the park during the daytime and stayed under the roof of a kind Latin American's family at night. With her limited English skill, she'd shared her personal story and shown me her social security statement with only $533 a month, is merely sufficient for her to cover minimum, low-quality food, not to say renting a safe place to stay or buying other personal essentials. Her story is just a tip of the iceberg of thousands of thousands of homeless I've seen in Southern California.
In November 2017, nearly 62 million people received a benefits check from the Social Security Administration via the Old Age, Survivors, and Disability Insurance Trust (OASDI). About 42.4 million of these recipients were retired workers. In this trajectory, our Social Security system will burn through its asset reserves by 2034, and if no new revenue is raised by Congress, the Board of Trustees has suggested that a benefits cut of up to 23% may be needed to sustain payouts through 2091. 66% of Millennial workers will be in trouble for retirement.
A problem the government must now look into before too late.