|
E-mail this page to a friend!
Social Security News
Social Security's 71st Birthday on Monday Didn't
Seem Very Happy
Only bloggers, two Democrats and seniors in
St. Paul noticed
By Tucker Sutherland, editor
August 16, 2006 Except for a few bloggers, some
Democrats and a few senior citizen organizations, the 71st birthday of
Social Security went unnoticed. The actual birthday was Monday
President Franklin Delano Roosevelt signed it into law on August 14,
1935.
| |
Related Stories |
|
| |
Social Security Fuse Gets Shorter by One Year - Goes
Boom in 2040
Funds to be exhausted in 2040, Medicare cost
will pass SS in 2028
May 1, 2006 - The 2006 Social Security Trustees
Report released today shows little change in the projected financial
status of the Social Security program over last year except that the
fund will run out of money one year earlier than thought last year.
Read
more...
Medicare Cost to Pass Social Security in 2028, Part
A Trust Fund Broke in 2018
Higher cost in 2005
cuts fund's life by two years
May 1, 2006 - Medicare expenditures were $336
billion in 2005 and are expected to increase in future years at a faster
pace than either workers earnings or the economy overall and exceed the
cost of Social Security in 2028. By 2080 Medicare costs will be almost
twice that of Social Security.
Read more...
Social Security Investment Accounts, Indexing in
Bush Budget
Reform ideas that never caught on in 2006 are back in
the 2007 budget
Feb. 6, 2006 There were so many things grabbing
the public's and media's attention in the $2.77 trillion federal budget
for FY 2007 presented yesterday, that many senior citizens may have
missed that the President has put private investment accounts and the
indexing of benefits (determining payments by need) for Social Security
back on the table and in the budget.
Read
more...
Social Security Reform Has Withered but Program Still Needs
Help
Author Nancy Altman says the problem is not
that hard to solve
Feb. 1, 2005 Social Security Reform, a buzz phrase
for the last few years, seems to have come and gone on the agenda of
President George W. Bush, as indicated by the lack of support in his
State of the Union last night. There is, however, a financial problem
for the program somewhere out there in the future.
Click to
read her opinion...
2005 Annual Report
Social Security Trustees See Money Disappearing Slightly
Faster Than Expected -
March 23, 2005 -
Read
more...
Read more
on
Social Security |
|
Americans United, the Minnesota Senior Federation,
the Alliance for Retired Americans and the American Federation of
Government Employees (AFGE) celebrated Social Security's 71st birthday
with a press conference today in the State Office Building in St. Paul.
It was really the only "birthday party" event we could find.
"Social Security: Celebrating 71 Years of
Guaranteed Benefits" featured a birthday cake and speakers from the
groups who expressed their support for "the most successful anti-poverty
program in history."
AU also called on Minnesota members of Congress to
"take a stand," for or against, President Bush's renewed effort to
privatize Social Security. They say it is "a risky scheme that would
slash guaranteed benefits and further increase the national debt by
nearly a trillion dollars."
The group pointed out that President Bush recently
commented on his private accounts program in a speech, assuring his
audience that "now is the time" and that "If we can't get it done this
year, I'm going to try next year. And if we can't get it done next year,
I'm going to try the year after that."
On July 11th, Bush released his administration's
Mid-Session Budget Review which includes a proposal to divert $721
billion from the Social Security trust fund to private accounts over the
next 10 years - virtually the same proposal which was overwhelmingly
rejected by the American public in 2005, says AU.
Senate Democratic Leader Harry Reid released the
following statement on the program's 71st anniversary:
"Seventy-one years after Social Security was
created, it continues to play a key role in the lives of millions of
working Americans. Social Security's success in lifting 13 million
elderly Americans out of poverty and providing assistance to over 8
million Americans with disabilities and over 6 million surviving spouses
and children is celebrated by all Americans.
"As we mark Social Security's contribution to the
retirement security of millions of hardworking Americans, Senate
Democrats renew our commitment to strengthening the program and to
rejecting any plan to dismantle it. Risky privatization schemes with
their deep benefit cuts and trillions in new debt continue to be
promoted by Republicans in Congress and they will continue to be
rejected by the American people.
House Democratic Leader Nancy Pelosi also released
a statement, saying, "71 years ago, with the creation of Social
Security, our nation made a commitment to the dignity and retirement
security of all Americans. Today, as we do every day, Democrats reaffirm
our commitment to this guaranteed benefit.
"Republicans continue their relentless quest to
privatize Social Security, which would slash benefits for the middle
class and turn this guaranteed benefit into a guaranteed gamble.
"The Republican budget would spend $712 billion
over the next 10 years for Social Security privatization. When the
President updated his budget, it contained Social Security private
accounts. Top Bush Administration officials and Republican Congressional
leaders have said several times that they plan to refocus on Social
Security privatization after the 2006 election. This is the wrong
direction.
"Democrats will continue to fight any effort to
privatize Social Security. By taking our country in a new direction, we
will strengthen Social Security."
And that was really about it, in recognizing the 71
years of service for probably the most important and successfully social
program ever launched by the U.S. government.
Even on the Social Security Website we could not
find a mention of the birthday. A search of the White House briefing
room found none.
There were a few bloggers taking note. They were
primarily liberals pointing out the success of the program and urging we
preserve it.
Last year, when the program turned 70, Jo Anne B.
Barnhart, Commissioner of Social Security, did contribute an article to
the Orlando Sentinel.
She noted, "The number of older Americans living
now is greater than anyone could have imagined in 1935. Then, only 7.5
million people were age 65 or older. Today, approximately 36 million, or
roughly one in eight people, are older Americans.
"These numbers are going to continue to grow even
more rapidly in the coming decades. In less than three years, America's
78 million baby boomers will begin to reach retirement age. By the
middle of this century, about one of every five Americans will be 65 or
older."
Well, Happy Birthday, Social Security, I hope you
have many, many more.
>>
Visit Social Security's History website
Click to More Senior News on the
Front Page
Copyright: SeniorJournal.com |