From today’s Mitchell Daily Republic editorial:
Sen. John Thune is receiving all kinds of advice on Social Security these days - and very little of it is constructive.
Most of the comments fit one description: Don’t change Social Security.
Former state lawmaker John McIntyre, Sioux Falls, exemplifies those who oppose any private accounts for Social Security - and a surprisingly cavalier attitude about the seriousness of the situation. McIntyre was quoted in an Associated Press story Wednesday [see this post] as saying, "We’d like to have the facts. And the facts we see is that Social Security is not in crisis."
Not today, it isn’t.
And not tomorrow, either.
But to say that Social Security doesn’t face a looming crisis is to ignore the facts. In 15 to 17 years, more money will be paid out of the system than is contributed through taxation. Although there are differing estimates as to exactly when this will occur, the stark truth is that as more people retire and the ratio grows of those taking out compared to those paying in, the integrity of the system will be compromised.
What we’re seeing from many quarters is a reaction against change, but with no proposals to fix the problem.
For those who are 73, as McIntyre is, Social Security remains a nice safety net. But for those "Baby Boomers" who are 20 years younger, the Social Security Trust Fund no longer holds the guarantee that McIntyre enjoys. The scenario worsens for the children of the "Boomers."
"…the Social Security Trust Fund no longer holds the guarantee that McIntyre enjoys"…at least one paper in the State recognizes the Democrat’s lie that the Social Security benefits are guaranteed.
Recent Comments