Love to help others? Volunteer with AARP Foundation Tax-Aide. Learn more.
AARP Colorado, June 4, 2010
Most people would agree Social Security needs long-term changes so future generations can receive their entitled benefits. I agree with the U.S. Senate Special Committee on Aging report that Social Security is not in crisis, but with modest changes can ensure solvency and strengthen benefits for generations to come.
These benefits are critical to keeping millions out of poverty. Social Security, which is financed by money hard-working Americans contribute actually runs a surplus and has not contributed to our nation’s current deficit. Yet, it’s tapped to help reduce the deficit and that’s not fair.
Take Florida, for example, Social Security pumps $3.7 billion a month into its economy. Without it, half of Floridians age 65 or older would be plunged into poverty, devastating Florida businesses. Colorado’s economy would also be negatively impacted. Because half of all workers today have no pensions, Social Security will be even more important tomorrow.
For 75 years, Social Security has provided critical retirement and financial security for millions of older adults as well as children and those with disabilities. With the remaining retirement pillars—such as traditional pensions, personal savings and home values—crumbling, Social Security will play an even more important role in preserving the financial well-being of future generations.
Americans can ill afford the ‘social insecurity’ that would come from unfair benefit cuts or risky proposals,” said AARP CEO Barry Rand said in a recent statement. “Social Security is not in crisis, and AARP believes that Congress should strengthen the critical benefits of the program sooner rather than later to ensure adequacy, equity and solvency for years to come. We must accomplish these goals under the context of enhancing retirement security for today’s and tomorrow’s retirees, not under the framework of reducing a deficit that Social Security did not cause.
Social Security needs to be strengthened for future generations, but even with no changes, Social Security can pay out full benefits until 2037 and nearly three-quarters of promised benefits after that.
Yes, modest changes need to be made, but any cuts to Social Security would be devastating and are unacceptable.
Note: We are currently in the process of replacing our commenting service, so it may take a few days for previous comments to appear. Login or register on AARP.org to join the conversation.
Featured AARP Member Benefits
See All >
You are leaving AARP.org and going to the website of our trusted provider. The provider’s terms, conditions and policies apply. Please return to AARP.org to learn more about other benefits.
Your email address is now confirmed.
You'll start receiving the latest news, benefits, events, and programs related to AARP's mission to empower people to choose how they live as they age.
You can also manage your communication preferences by updating your account at anytime. You will be asked to register or log in.
In the next 24 hours, you will receive an email to confirm your subscription to receive emails
related to AARP volunteering. Once you confirm that subscription, you will regularly
receive communications related to AARP volunteering. In the meantime, please feel free
to search for ways to make a difference in your community at