Should I be worried?

[arkjarhead]

I am starting to get worried about this whole bad economic outlook. I may have no reason to be. I wasn't around during the 30s. If the economy gets hit really hard with this also effect the government's finances? As most of you know I;m on disability and depend on the VA for my medical care and my income. I'm starting to get worried. I mean if something bad does happen what are the chances of someone coming on tv and saying the government doesn't have the money to send the disabled vets their checks? Maybe I'm just over reacting. It's not like there is much I can do about it. Except try and save up some money in case that happens.

 

[dieseldiva]

Joe, I don't mean this to be flippant in any way.....but me thinks you're probably one of the more secure folks among us. In this election year, which side of the isle wants to be responsible for "cutting off" the funds for our disabled vets??

I wouldn't be concerned about the government cutting me off but I would still go with that saving thing you mentioned. Rainy days always have a way of showing up in one form or another.

Our best to you and yours. DD

 

[arkjarhead]

I really didn't think of it that way. I guess that would be a good way to make sure your party didn't get elected. Now that you say that. Could you see the ads from the Disabled American Veterans, Veterans of Forgein Wars, and the like saying this person and that person voted against disabled vets retaining their benefits. Sometimes I tend to worry over nothing. I mean I hate depending on the government mainly because of the stigma that goes along with drawing a check. Another thing is they have proven not to be very dependable.

 

[highway star]

Given the amount of debt the Federal Government is carrying, they don't really have the money to send out those checks anyway. There are those that say we'll never have anything like the great depression again because they've become better at handling the things that lead up to economic downturns. Is that true? I dunno, but it would be nice. Things got pretty bad in the early '80s, but not like the '30s. I feel your pain though, I'm making payments on a brand new truck.

 

[dieseldiva]

Sometimes I tend to worry over nothing. I mean I hate depending on the government mainly because of the stigma that goes along with drawing a check. Another thing is they have proven not to be very dependable.

I understand what you're saying but I've got to say to hell with the stigma and those that encourage it.

YOU EARNED EVERY PENNY YOU RECEIVE AND MUCH MUCH MORE AND DON'T EVER LET ANYONE TRY AND TELL YOU OTHERWISE!

If there's anyone that should feel bad about drawing a check it should be all those deadbeats in Washington that draw and draw and.........well never mind, let's don't get me wound up!

 

[LDB]

You really don't need to worry about anything unless you learn there is no more ink. As stated, it's unlikely anyone is going to cut off veterans, especially disabled ones. Also, you need to be aware that things are not grim. Contrary to the media reports of "recession", designed only to denigrate the current administration and those running for election, we are still in a growing economy, just not as fast as before. Rather than a ~3.5% growth it's slowed to around a 1.5% growth. That's far from a recession. Recession, n. An extended decline in general business activity, typically two consecutive quarters of falling real gross national product. We haven't had any falling of gdp, much less 2 consecutive quarters. I do however 100% concur with your idea to save money.

 

[dhalltoyo]

30's!!!

Do we have any 77 year old drivers on EO that can relate the issues surrounding the economic woes of that period in history?

Just a little humor.

Seriously speaking, if the government ever stops disability payments to veterans it would be akin to not allowing folks to redeem U.S. Savings Bonds.

Should it ever get that bad...we would all be in the same boat because money would be worthless.

Personally, I am looking forward to getting my Social Security checks soon.

 

[greg334]

Sorry Ark for your worries but the only thing I would really worry about is the increase in the amount of your payments in regards of inflation. The worry I have is hyperinflation and even with the automatic increases, there is not a way to ensure that they will follow the right rate at the right time.

As we heard today about this 'crash', which the fed should not have stepped in and lowered the interest rates again but let things go, the doom and gloom predictions are no where near coming true. If we continue to have the fed mess with currency amounts on the market, lowering interest rates and talking about incentives to spend without really doing anything else, we will crash hard.

The best thing you can do is put cash away, even if it is a few bucks here and there, get out of debt as fast as possible and try really really hard to stay away from credit cards and getting any unneeded loans for a while.