issue Position: Social Security

Issue Position

issue Position: Social Security

My 82 yr. old mother is 100% dependent on Social Security and Medicare. My parents worked hard and paid into the "trust fund". Politicians promised citizens generous health and retirement benefits when there were 16.5 workers for each Social Security recipient. Today there are only 3.2 workers per recipient. According to current projections, in 2030 there will be fewer than 2 workers per recipient. Due to these demographic changes, in 2015 the program will begin to pay out more in benefits than it brings in through payroll taxes and the Social Security Trust Fund will be completely exhausted by 2037.

Today more Americans believe in UFO's than the future of the Social Security system. We must tackle this problem sooner than later - we cannot leave these burdens for our children and grandchildren. If we don't act, according to the 2010 Social Security Trustees Report, beneficiaries will face a 22% across-the-board benefit cut in 2037 when the Social Security Trust fund is exhausted. Even those who are currently on Social Security may experience arbitrary cuts in benefits.

If Congress doesn't do something to reform Social Security, people who younger than age 30 or 40 today will continue pay more and more into Social Security the rest of their life. But if that isn"t bad enough, absolutely nothing will be left for their own retirement because Social Security will be broke.

Most of the people voting in this next election will be dead and gone by that time. And most of the politicians in Washington who don't have the courage to reform Social Security also will be dead and gone by the time Social Security goes broke.

I support modest, sensible reforms to Social Security going forward so this most important program will be there for future generations, while making NO changes in benefits for those currently over 55.

We need to provide younger American workers with the voluntary option of investing a portion of their FICA payroll taxes into personal savings accounts. Those funds would be 100% owned by the workers. They could invest them into a series of funds managed by the U.S. government. Individuals who choose to invest in personal accounts would be ensured that every dollar they place into an account would be guaranteed, even after inflation.

* I oppose any changes to Social Security that would affect Americans already retired and receiving Social Security.

* I wholeheartedly support allowing younger Americans -- years away from retirement -- to choose either Social Security or a Personal Retirement Savings Account that Congress could not touch.

* I do not support raising taxes to finance Social Security payments.

* I do not support borrowing more money from China and other foreign nations to finance Social Security.

* I wholeheartedly support CUTTING SPENDING to ease the financial drain on Social Security. And I'm not talking about decreasing the increase. I'm talking about real, actual cuts in spending.

* Since people are living longer today than when Social Security was founded, I would consider supporting raising the retirement age.

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