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Today's fortysomethings won't be able to count on Social Security when they retire

Eileen Ambrose's article about "the reward of waiting" for Social Security benefits calls to mind a few observations about the system ("Here's what you should know about Social Security," March 11):

With the stock market quite variable in total returns, and interest rates at historic lows, there is no advantage to taking Social Security benefits early — unless, of course, you don't plan on living very long.

I take exception, however, to Ms. Ambrose's reference to the total value of the annuity that it would take to generate current Social Security benefits. Unless the government stops reducing employees' contributions to the plan, and unless it fixes the system to make it solvent, you can't look forward to an insured benefit as you could if you owned an annuity.

As it stands now, our Social Security payments will have to be made out of current tax revenues in 15 to 20 years, and we all know that with the perpetual deficit spending our leaders continue to foster we have no hope of being paid our benefits.

Where is the outrage by the folks in the 40 and above age group who will most likely not be able to count on their so-called entitlement benefit? Like everything else government related, we don't face the issues until the sky is falling.

Sam Davis, Towson

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