Its Future in Doubt, Social Security Turns 70"State Rep. Dave Murzin, R-Pensacola, is involved in an organization called 'Generations Together,' supporting the Bush approach. Murzin, 41, said younger workers generally expect to change jobs about seven times in their careers, and they are more amenable to portable investment accounts like 401(k) funds than their parents were." "Derrick Max, director of the Alliance for Worker Retirement Security in Washington, said 'doing nothing is not an option' because the trend lines of payroll tax income and benefit payouts will cross in 2017. By about 2025, he said, taxes might have to be increased from 12.4 percent to about 19 percent to close the gap—an increase Max said would be devastating for employers and wage earners." Lawmakers to Renew Social Security Debate"An electronic card...circulated by the Coalition for the Modernization and Protection of America's Social Security, or CoMPASS, shows a Social Security birthday cake sliced and served. Without major reform, it warns, children will be left with the crumbs." An Early Introduction to the Ways of Washington"Jonathan Swanson is too young to be wearing a charcoal-gray suit, especially in the torpor of a Washington summer. Then again, he's old for his 22 years. As national director of Students for Saving Social Security, Swanson is involved in an issue that most people his age don't care about." "Their goal—to enlist other college kids in their quest to enact President Bush's plan to add private accounts to Social Security—has succeeded beyond their dreams." Anniversary Escalates Social Security DebateThe Coalition for the Modernization and Protection of America's Social Security—a key group pushing for reform that includes private accounts—sent lawmakers a birthday card for Social Security warning that unless the system's fiscal problems are fixed, only crumbs from the 70th birthday cake will be left for future generations. From the FieldWashington, D.C.
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Social Security's 70th Birthday: Reform Needed or Future Generations Won't Have Much to CelebrateAs Social Security celebrates its 70th birthday on August 14, a leading advocate of reform today distributed a birthday card warning that unless the program is fixed, future generations won't have much to celebrate when they retire. "The e-card is being sent to Members of Congress, students, and reform supporters across the country.
60 Plus Association Holds Ninth Annual Forum on Social Security's 70th AnniversaryAs Americans across the country celebrate Social Security's birthday, 60 Plus Association held a forum on Social Security, featuring debate by:
Click here to read a transcript of the debate Did You Know?A medium-income worker born after 1965 can expect a rate-of-return of less than 2% on his or her Social Security taxes. Source: Social Security Administration 
They Said ItI think we should be optimistic about where [Social Security] is all headed. We don't do things quickly in major reforms. This is the biggest social program the government operates in the history of our country, and we're going to take small steps to get down the road. But I think we're going to eventually reach that point. Washington Times Chief Political Correspondent Donald Lambro, |
