Social Security Choice

Wall Street Journal Features Students for Saving Social Security

Tue, 08 Jan 2008 01:31:03 -0500

"Founded in 2005 when Congress was debating President Bush's privatization plan, Students for Saving Social Security now works to put social-security reform back on the agenda in Washington.

"(...) When Sen. Hillary Clinton said last year that Social Security wasn't a priority, Evan Dent, the group's 24-year-old grass-roots and public-relations director, walked into the New York senator's New Hampshire headquarters in an ostrich suit to deliver an 'ostrich award,' a citation given to candidates who avoid the issue. In recent months, the group has adopted a new tactic: dropping in on campaign events in neon-green T-shirts that say, 'New Hampshire Cares About Social Security.' The goal is twofold, explains Ms. Dent. 'We want the voters to be educated on the issue, and we want the candidates to know that it's a very important issue that they need to fix,' she says."
Get the full story here.

Baby Boomer + Social Security Cartoons

Tue, 30 Oct 2007 17:03:40 -0500

With the recent news of the first baby boomer dipping into Social Security retirement benefits, there have been tons of editorial cartoons illustrating this upcoming flood on the system. Daryl Cagle has compiled several of those cartoons in a special section of his website.

Clinton Earns Secure Our Future's First Ostrich Award

Wed, 19 Sep 2007 22:41:22 -0500

Secure Our Future visited Senator Hillary Clinton's campaign office in New Hampshire last week to give her an award -- the Ostrich Award. Clinton earned the award by ruling out protected accounts and benefit cuts during a speech to AARP members. Taking these options off the table leaves Clinton with tax increases and doing nothing as her two remaining choices in dealing with the coming shortfall.

From our press release: "The Ostrich Award recognizes Presidential candidates who have their 'heads in the sand' and continue to ignore the problems facing Social Security, offering 'stick it to future generations' plans."

Go here to see a picture of the ostrich outside of Clinton's campaign office.

S4 on C-SPAN: Social Security a 'Black Hole'

Mon, 13 Aug 2007 18:27:15 -0500

Washington, D.C. – In a Social Security panel held at the National Press Club Tuesday morning at 10 a.m. EDT and broadcast on C-SPAN, Patrick Wetherille of Students for Saving Social Security (S4) warns fellow students to think twice about contributing to our bankrupt retirement program:

“Many young people tend to write off Social Security as something that they know they must pay, but are not counting on in old age. But when you actually sit down and calculate that you will pay half a million dollars into a system that you have no faith in…Well, that’s quite a lot of money to simply send into a government black hole,” he remarks.

Wetherille is co-founder and chairman of S4, the largest youth organization dedicated to reforming Social Security. Hosted by the 60 Plus Association, Tuesday’s 11th annual forum also includes speakers Ryan Ellis of Americans for Tax Reform, Nancy Altman of the National Academy of Social Insurance and moderator Jim Martin of 60 Plus.

Secure Our Future candidates site

Fri, 27 Jul 2007 16:03:37 -0500

Secure Our Future announced a new Web site today that includes original video interviews and research conducted by Students for Saving Social Security. From our press release:

Secure Our Future Announces 2008 Presidential Candidates Web Site
Senator Dodd admits: “Certainly, we have no ideas”

Washington, D.C. – Secure Our Future, a new organization dedicated to protecting the retirement security of younger generations, announced in a Capitol Hill press conference at noon today the launch of a Web site featuring original video interviews with 2008 presidential candidates.

The site includes a transcript from the July 23 Democratic YouTube/CNN debate in which Senator Dodd admitted in response to a question about Social Security reform, “Certainly, we have no ideas.” (See http://www.secureourfuture.org/election08dodd.php.)

U.S. Rep. Marsha Blackburn addressed nearly 100 young activists at the Rayburn House Office Building lunch event, which was co-sponsored by the Independent Women’s Forum, Leadership Institute and 60 Plus.

The 2008 presidential candidates Web site features original video interviews and research conducted by Students for Saving Social Security, a project of Secure Our Future. In addition to making clear the position of each candidate on Social Security reform, the site includes information about upcoming events, ways to get involved on campus and voter registration. To visit the site, go to http://www.secureourfuture.org/election08.

“Young people are looking for presidential candidates who will protect our retirement security,” says Jo Jensen, the executive director of Secure Our Future. “We deserve a clear plan for Social Security reform from every candidate, including Senator Dodd.”

Current campaigns ignore SS reform issue

Thu, 26 Jul 2007 22:40:58 -0500

Dick Armey has a good opinion piece bemoaning the fact that none of the current crop of presidential candidates want to touch this "third rail" topic.

Dangerous Financial Products

Fri, 22 Jun 2007 09:06:59 -0500

Don Boudreaux has provided us with another glimpse into his refreshing perspective on economics.

22 June 2007

Ms. Clara Perez
www.democracyjournal.org

Dear Ms. Perez:

Thanks for your e-mail alerting me to Presidential-hopeful John Edwards's proposal to create "a regulatory commission to protect consumers from dangerous financial products."

If such a commission does its job, I suggest that the first dangerous financial product that it attacks be Social Security. Not only are Social Security's returns lousy; not only does the institution providing it have no sound plan to keep it solvent; not only does this institution intentionally mislead its clients about its insolvency (witness its discussions of the illusory "trust fund") - but its "customers" are forced to buy it. THAT is a dangerous financial product!

Sincerely,
Donald J. Boudreaux
Chairman, Department of Economics
George Mason University
Cafe Hayek Blog

Making Retirement Security a Top 2008 Issue

Mon, 11 Jun 2007 13:57:26 -0500

Students for Saving Social Security was up in New Hampshire last week making lots of news about Social Security reform. We got Romney and Giuliani to come out in favor of personal retirement accounts, and we got McCain to pledge that he will not raise taxes in finding a solution to the funding shortfall.

You can watch the YouTube video of us with McCain here.

Other press includes a radio interview with "Meet the New Press," which is broadcast on WEMJ 1490 in New Hampshire, and this from the Milwaukee Journal Sentinel:

"A group called Students for Saving Social Security sent a woman in an ostrich costume to a McCain event Tuesday and a Giuliani event Wednesday. The group, which supports personal retirement accounts, says it's asking politicians to get their heads out of the sand on Social Security."

Keep an eye out for the S4 ostrich as we continue our efforts to make sure that the next president deals with Social Security!

Social Security Trust Fund Still Doomed

Mon, 23 Apr 2007 17:55:55 -0500

Social Security Fund Trust Fund Still Doomed
Club For Growth Argues for Market-Based Reform

Washington – The Club for Growth reiterates its commitment to genuine market-based Social Security reform in light of the funding crisis projected by the Social Security Administration’s 2007 Trustee Report.

Released earlier today, the report predicts that Social Security costs will outstrip tax revenue coming into the “trust fund” by 2017. But, of course, the “trust fund” is not a fund in any meaningful sense of the word. Absent reform, by 2017, the government will be facing either a politically untenable benefit cut or, more likely, a huge tax increase.

“Social Security’s funding crisis isn’t going anywhere unless we do something about it,” Club for Growth President Pat Toomey said. “Today’s report only drives home the need for real market-based Social Security reform in the form of personal accounts. Not only will personal accounts go a long way to solving the fund’s insolvency problem, but, more importantly, they will also restore personal freedom and independence to America’s workers.”

“Some politicians refuse to embrace personal accounts because they mistakenly believe that the American people cannot make their own decisions about how to invest and save for retirement. It comes down to a basic lack of faith in the American people and an overabundance of faith in themselves. Throughout our history, Americans have always preferred more choice and freedom over less. Social Security is no different.”

Club Key Votes "Stop the Raid" Amendment

Wed, 21 Mar 2007 17:16:16 -0500

We issued this key vote alert to the Senate today.

KEY VOTE ALERT
"YES" on the "Stop the Raid" Amendment (#489)

The Club for Growth plans to score a "YES" vote as a pro-economic growth vote in its annual rating of Congress on the DeMint Amendment (#489) to "Stop the Raid on Social Security", which is being offered on the FY08 Budget Resolution (S. Con. Res. 21) in the Senate.

Social Security's long-term unfunded liability is $4.6 trillion through 2080. Unless the program is reformed, either substantial benefit cuts with little warning to beneficiaries or job-killing tax increases will be the result.

If adopted, this amendment would demonstrate Congress is serious about finally beginning action on meaningful reform. While the amendment would not commit the Senate to any particular plan, it contains a workable framework for proceeding with modernization of Social Security so that it is fiscally sound for the future.

Our Congressional Scorecard for the 110th Congress provides a comprehensive rating of how well or how poorly each member of Congress supports pro-growth, free-market policies and will be distributed to our members and to the public.

Ferrara opposes 'all options on the table'

Tue, 13 Mar 2007 17:01:50 -0500

Peter Ferrara of the Institute for Policy Innovation has a new publication titled Personal Accounts, Not Tax Increases, a 2-page paper that begins with some history of the advances toward personal ownership and ends with a prescription for "the only way to achieve personal accounts." In between, Ferrara argues that it has been a mistake to consider benefit cuts or tax increases as part of a reform package, as "it was including these options on the table that actually killed the campaign for personal accounts" in 2005.

Students for Saving Social Security asked Ferrara a couple questions about his publication, and you can read more of the exchange on the S4 Web site. Exclusive to this site is the following, which argues against the progressive price indexing of benefits:

"When I see organizations from Washington telling young people across the country that these organizations will save Social Security for them, and that young people should support Social Security reform, while these organizations are in Washington promoting tax increases on these young people, and Social Security benefit cuts for their future, it makes me ill.

"Here is an example. These organizations will go to young people and say if nothing is done by the time they retire there will only be enough Social Security money to pay 70% of promised benefits. Then in Washington these same organizations promote something called progressive price indexing, and how does it solve the problem? It cuts future promised benefits so that by the time today's young workers retire Social Security will only be obligated to pay them 70% of currently promised benefits. For young people, that is not the solution, that is the problem."

Count Us In!

Thu, 15 Feb 2007 17:24:50 -0500

If you haven't already heard, Students for Saving Social Security launched an online petition campaign to keep personal retirement accounts in the 2008 budget. President Bush's budget calls for the voluntary accounts to be phased in starting in 2012.

The National Taxpayers Union, Independent Women's Forum, For Our Grandchildren, and a variety of other groups have already joined the effort. Visit CountUsIn.org and sign the petition for genuine reform through personal ownership.

Come together, right now

Sat, 03 Feb 2007 17:29:58 -0500

From the President's radio address this morning: "Controlling spending also requires us to address the unsustainable growth of entitlement programs such as Social Security, Medicare, and Medicaid. Spending for these programs is growing faster than inflation, faster than our economy, and faster than our ability to pay for it. Unless we act, we will saddle our children and grandchildren with tens of trillions of dollars of unfunded obligations. They will face three bad options: huge tax increases, huge budget deficits, or huge and immediate cuts in benefits. Republicans and Democrats need to come together to confront the challenge of entitlement spending and ensure that these vital programs are there when our children and grandchildren need them."

President Bush on Social Security

Thu, 01 Feb 2007 08:57:50 -0500

The Wall Street Journal editorial board sat down with President Bush and discussed a number of issues, including Social Security. Excerpt:

WSJ: Can I ask about Social Security? You mentioned it in your speech. You also talked about low taxes being important to the strength of the economy. Would you accept an increase in the Social Security tax income cap from present levels in order to get a [reform] deal?

GWB: I want people to bring their best idea to the table, and I'm bringing my best idea, which is you don't have to raise taxes to solve Social Security.

Entitlement reform 'our duty'

Wed, 24 Jan 2007 13:52:19 -0500

From the State of the Union address: "Social Security and Medicare and Medicaid are commitments of conscience -- and so it is our duty to keep them permanently sound. Yet we are failing in that duty -- and this failure will one day leave our children with three bad options: huge tax increases, huge deficits, or huge and immediate cuts in benefits. With enough good sense and good will, you and I can fix Medicare and Medicaid -- and save Social Security."