Last week a major effort was launched by various Democratic groups to prevent cuts in Social Security, in particular calls to raise the retirement age. A National Commission is expected to make recommendations after the election and many members have already expressed support for raising the retirement age.
If you listen to conservative critics and those repeating their talking points, the Social Security system is near collapse. But Social Security opponents are devoid of facts and are using scare tactics.
Take for example the US Chamber of Commerce contention that Social Security will be completely out of money by 2041 and compare that to a recent Congressional Budget report stating that at current levels, the Social Security trust fund can meet all benefit obligations until 2039 and would then be able to meet 80 percent of the obligations thereafter.
There is a big difference between having a 20% short fall in benefits in nearly 30 years as the CBO report states, and being “completely out of money” as the US Chamber’s website claims. But if you read closely, it is apparent that Social Security critics are trying to privatize Social Security to enrich the financial industry that has proven itself completely corrupt in using 401k’s of working Americans as gambling chips, buying worthless financial derivatives.
Do we need to make adjustments to insure full benefits will be paid to retirees in 30 years? Yes. But the sky is not falling and we don’t need to apply the most drastic tactics, like raising the retirement age, before other options are explored. And there are many options–the CBO’s report looks at 30 options to adjust the long-term needs of the Social Security trust.
Unfortunately Social Security opponents have been very successful in spreading the myth of a “bankrupted” program and many people give a knee-jerk reaction to support raising the Social Security age.
Which brings me to St. Senator Rob O’Leary, who is a Democratic candidate for Congress to replace the retiring Bill Delahunt. In the spirit of full disclosure, I am a supporter and volunteer for Bill Keating, O’Leary’s opponent. I attended a recent debate the two had and Rob O’Leary seems to be a decent Democrat, but I was completely floored when he agreed with all the Republican candidates and supported raising the retirement age. Needless to say, his position has not gone unnoticed by local Democratic activists.
This is one of the many examples of Democrats falling for fake Republican talking points. It has to stop.
