Social Security works. Don't let Trump destroy it (tags)
Millions of people count on Social Security for their survival. Over 60 percent of seniors rely on Social Security payments for at least half their income. Approximately one-third of seniors rely on Social Security payments for at least 90 percent of their income.
Washington renews demand for cuts to Social Security, Medicare (tags)
The Bush administration, echoed by much of the mass media, seized upon reports released May 1 on the fiscal health of the Social Security and Medicare system to renew its demand for drastic cuts to these two major entitlement programs, thereby gutting retirement benefits and health care for older Americans. According to the reports, issued by the trustees of the programs’ trust funds, the Medicare Hospital Insurance Trust Fund is projected to become insolvent by 2018, due largely to rapidly rising costs of American health care outstripping the payroll taxes that fund the program. The report on Social Security indicates that this program will be able to pay out 100 percent of benefits until 2040, when the trustees predict the fund will be exhausted—a year earlier than previous projections. After that it would be able to cover 74 percent of promised benefits out of revenues until 2080, when it would decline to 70 percent.
Barry Goldwater, Social Security & My Mother (tags)
Goldwater's stand on Social Security became a turning point in my life
Greenspan Sounds Alert on Social Security (tags)
THERE WILL BE NONE FOR YOU!! For at least the fourth time this year, Federal Reserve Chairman Alan Greenspan issued his warning that the White House and Congress need to come up quickly with a plan to trim the Social Security and Medicare benefits that 77 million baby boomers are scheduled to receive when they retire.