Ginny Explains Social Security Proposals to Area Residents

Washington, D.C., Oct 13 -

Recently, I have been hearing from some of my constituents on Social Security issues so I thought I would take this opportunity to clarify a few points on my position.

As you probably remember, there was a great deal of discussion in Congress last year over the problems facing Social Security.  This is because the Social Security Trustees have warned us for years of the serious structural problems facing the system.  While we are fortunate to have a surplus in the trust fund today, if changes are not made by 2017, the program will begin to run a deficit.  By 2041, the system will be bankrupt.  If Congress does nothing to fix Social Security, our children and grandchildren will be saddled with $10.4 trillion in costs.  These facts are indisputable.

Many have come out opposing new ideas, just to oppose them.  I on the other hand have repeatedly stated that I want to wait until Congress has all the facts, until the pertinent committees have reviewed all proposals, and until we have heard from as many constituents and experts as possible before I throw my support behind one plan.  However, I have also repeatedly stated a few things in which I will not waiver: I will never support any effort to cut Social Security benefits for today’s retirees or near retirees, nor will I support any effort to privatize the Social Security program.

What I do support is ensuring that today’s seniors enjoying their golden years will never have to worry about their Social Security benefits. For one-third of Americans over the age of 65, Social Security benefits constitute 90% of their total income.  My mother-in-law is someone who only has her Social Security, so I am acutely aware of the needs of Social Security recipients.  To that end, I have introduced H.R. 266, the Social Security Protection Act, legislation that will guarantee the promised Social Security benefits for current retirees.

It is unfortunate the fear mongers continually attempt to frighten seniors by using words such as “private.”  Instead of facing the Social Security problem with real legislative proposals, these do-nothings only want to stick their heads in the sand and ignore the looming Social Security problems.  They also want to play word games with Social Security reform.  Let me be clear: Privatization takes Social Security completely out of the hands of government and turns the program over to a private entity.  I will never vote to privatize Social Security.

However, other proposals, including President Bush’s personal savings accounts, are simply that – proposals.  I have not given my endorsement to any plan just yet, including President Bush’s proposal.  His proposal has only been in the form of guidelines to Congress and is one of many circulating.  Like you, I am waiting until I have fully researched every proposal before I make a decision.

The reality remains that Congress only has a few choices in guaranteeing the solvency of Social Security, and we must solve these issues so that they are not passed on to our children and grandchildren.  Any solution will require choices, bi-partisanship, and public discussion, and I look forward to working with my constituents and colleagues on both sides of the aisle in finding long-term solvency for Social Security.