Money

It’s time to bolster Social Security, not slash it

Posted on 27 August 2010

By Mark Miller

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Social Security was signed into law 75 years ago this month by President Franklin Delano Roosevelt. Today, it is the most important component of retirement security for most Americans. Unlike our damaged system of private pensions, Social Security is efficient, reliable and stable.

But rather than celebrate Social Security’s successes at this milestone anniversary, many policy makers and much of the news media are focused on a different narrative. Social Security, they argue, is running out of money due to the impending retirement of millions of baby boomers. Social Security contributes to our ballooning national debt. We can’t afford Social Security in its current form, and must scale back benefits.

This narrative is inaccurate, and it poses a serious threat to Americans’ long-term retirement security.

Get the full story at The Huffington Post.

Related posts:

  1. Why Social Security is not a Ponzi scheme
  2. Is Congress getting ready to slash your 401(k) deduction
  3. After the super committee, what next for Social Security, Medicare?
  4. Bush still yearns for Social Security privatization
  5. Social Security and government default: Q&A on your benefits

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  1. Why a higher Social Security retirement age won’t work for everyone | RetirementRevised Says:

    [...] “Reform” advocates concerned about the federal deficit want to increase Social Security’s full retirement age. That might work out for knowledge workers, but it’s a tough proposition for people who do physical labor. And for everyone involved, a higher retirement age amounts to a significant cut in lifetime benefits. [...]

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