Social Security: A Political Football Again in Campaign Season - AMAC & ABCNews.com
It’s become quite predictable for Democrats to say, “Republicans want to cut Social Security” every two years. But is there any truth to the line? Alexandra Hutzler of ABC News examines the issue, given that two GOP senators have suggested that Social Security spending be changed from mandatory to discretionary. While no elected official of either party is calling for outright cuts, experts point out that Congress is frequently late with budget and authorizations, which suggests a problem with taking Social Security off of mandatory spending. Still, problems exist with the program’s long-term health, though they could be fixed tomorrow by Congress with tax increases or changing benefit formulas. Read the full piece here.
The Association of Mature American Citizens (AMAC) believes Social Security must be preserved and modernized. This can be achieved with no tax increases by changing cost of living adjustments, the retirement age, and delayed credits. AMAC advocates for a bipartisan compromise, “The Social Security Guarantee Act,” taking selected portions of bills introduced by former Rep. Johnson (R-TX) and current Rep. Larson (D-CT) and merging them with the Association’s own research. One component is Social Security PLUS, a voluntary plan to allow all earners to have more income at retirement. This component is intended to appeal especially to younger workers. AMAC is resolute in its mission that Social Security be preserved and modernized and has gotten the attention of lawmakers in DC, meeting with a great many congressional offices and their staffs over the past several years. Read AMAC’s plan here.