Tuesday, November 23, 2010

Representatives of the National Gray Panthers went to Capitol Hill in November to present their position regarding Social Security. They spoke with members of the Deficit Commission and presented their counter proposals against anticipated recommendations by the Commission to cut Social Security benefits.

Susan Murany, Executive Director of the national Gray Panthers, told the Commission: "For 75 years, Social Security has remained a promise of economic protection and stability for the Americans who have paid into this program. As we now celebrate three-quarters of a century of accomplishments for this program, we must also do our part to ensure that Social Security is not weakened by those who wish to balance bailouts on the backs of Americans."

PROBLEM:

Social Security is America's most successful anti-poverty program and remainsthe most fiscally responsible part of our federal budget. In fact, recent polls from the National Committee to Preserve Social Security and Medicare indicate that 85% of adult Americans are opposed to cuts to Social Security to decrease the deficit. However, while many Americans remain united on this issue, Social Security continues to face threats from increased polarization in Congress and those with anti-entitlement agendas.

The 2010 Social Security Trustees report shows that Social Security is not facing an immediate threat. The surplus within the Social Security trust fund is estimated to grow to $4.3 trillion by 2023 and remain able to pay benefits in full through 2037, and 76% of benefits thereafter. Yet, the opposition continues to project "doomsday" crisis reports and myths to the American public in