The truth is that the Social Security Adminstration is not in trouble-- it never was and still isn't. According to the Congressional Budget Office, even if nothing is done to change Social Security benefits, we will still be able to take care of seniors and the disabled well beyond 2042.
Well, here we go again. The battle over the future of Social Security rages on in 2010. Last week, the labor movement and our progressive coalition partners responded by sending more than 30,000 faxes to Congress asking representatives to sign the coalition's Social Security Promise, which commits them to:
•Oppose any cuts to Social Security benefits
•Oppose increases to the retirement age
•Oppose any effort to privatize Social Security
The working class should not stand for politicians who want to screw around with Social Security. A new poll shows that 65 percent of voters reject raising the retirement age to 70, 52 percent of them strongly. Why all this attention now? This is in reaction to a huge campaign by those who want to cut Social Security to scare voters into thinking the Social Security Administration is in some sort of crisis. The bottom line is they want all that money on Wall Street and in the pockets of people who are already the wealthiest in the nation.
Shockingly, the real threat to Social Security is still growing. Radical Republicans like Rep. Paul Ryan recently said he wants to privatize Social Security. Others, like Majority Leader John Boehner want to raise the retirement age-- the equivalent of an across-the-board benefit cut-- to pay for tax giveaways for millionaires.
Under the most likely version of the GOP privatization proposal, a 20-year old worker joining the labor force today would see his/her guaranteed Social Security benefits reduced by 46 percent. Bush's own Social Security commission admitted that private accounts are unlikely to make up for this drop in guaranteed benefits.
The brokerage firm Goldman Sachs estimates that even with private accounts, retirement income of younger workers would be reduced by 42 percent compared to what they would receive if no changes are made to Social Security. On top of that, necessary borrowing to start up the accounts would add at least $2 Trillion to our already stratospheric federal deficit.
And unfortunately, it's not just Republicans who are pushing cuts. Democratic Majority Leader Steny Hoyer recently said that, "We could and should consider a higher retirement age. And sadly, Rep. James Clyburn, another member of the Democratic leadership, has indicated that he, too, is open to "adjusting" Social Security.
However, there are some in Washington who are listening to their constituents. Representatives across the country-- from Gabrielle Giffords in Arizona to Earl Pomeroy in North Dakota to Alan Grayson in Florida-- all have pledged to protect Social Security from cuts and privatization. These people are our working class champions, not just our allies.
It must be stated that Social Security should not be framed or considered an entitlement program. Anyone who has worked thirty or forty years and has been paying into this system should be reinbursed later in their lifetime. It has been our only sure-fire safety net for the elderly and disabled community post World War II.
We need to keep up the pressure on our local Congressional delegation too, including Rep. Louise Slaughter (28th District) until she commits to all three parts of the promise.
If you live in the 28th Congressional District, you can call Louise's office at 202.225.3615 or 585.232.4850. As for Congressman Chris Lee (26th District), good luck with that. He's a first term Republican who votes and thinks in lockstep with Party leaders and basically does what he is told.
Commentary by Ove Overmyer
President, CSEA City of Rochester Library Workers 7420
VP, CSEA Local 828
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