So, they say we need proof that President Bush has NO plan to reform or change social security.
How about straight from the website of Social Security itself?
Read this, then if you think its worth it, recommend this diary! :)
Will Social Security be replaced by a private sector retirement plan ("privatization")?
No. There are no credible plans to replace Social Security as the foundation for the retirement of American workers.
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I am retired and receiving a monthly check from Social Security. Are my monthly payments going to be cut?
No, there are no plans to cut benefits for current retirees. In fact, benefits will continue to be increased each year with inflation.
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My parents are receiving Social Security payments. Should I be worried that their monthly checks will be cut and that I will have to make up the difference?
No, there are no plans to reduce benefits for current retirees. In fact, benefits will continue to grow annually with inflation.
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I hear that Social Security has a big financial problem? Why?
!Social Security's financing problems are long term! and will not affect today's retirees and near-retirees, but they are very large and serious. People are living longer, the first baby boomers are five years from retirement, and the birth rate is low. The result is that the worker-to-beneficiary ratio has fallen from 16-to-1 in 1950 to 3.3-to-1 today. Within 40 years it will be 2-to-1. At this ratio there will not be enough workers to pay scheduled benefits at current tax rates.
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If Social Security's financial problem is so long term (negative cash flows not until 2018 and trust fund exhaustion in 2042), why do we need to fix it now?
As the Trustees of Social Security, the Comptroller General of the United States and the Chairman of the Federal Reserve Board have said, the sooner we address the problem, the smaller and less abrupt the changes will be. The independent, bipartisan Social Security Advisory Board has said: "As time goes by, the size of the Social Security problem grows, and the choices available to fix it become more limited." Addressing the problem now will allow today's younger workers planning for their retirement to have a better assurance of the future of Social Security. See the Trustees Report
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Does President Bush have a specific plan to modernize and reform Social Security?
No, but the President has established six guiding principles for any reform of Social Security:
Preserve Social Security benefits for retirees and near-retirees
Use Social Security surplus for Social Security
Keep Social Security payroll taxes level
Do not have the government invest Social Security funds in the stock market
Preserve Social Security's disability and survivors insurance programs
Create individually controlled, voluntary personal retirement accounts to augment Social Security
The bipartisan Commission he appointed put forward three models based on these principles. These models are in the process of being discussed, as are other alternatives
There are more questions and answers, some of which say there is a LONG TERM problem. But it does not seem urgent, as the President has said. And it says the President does not have a credible plan :).
Www.Ssa.Gov
This is from http://www.ssa.gov/qa.htm
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