Tuesday, April 26, 2005

On Social Security...

Just to keep you informed......    


April 25, 2005

Ms. Catherine Hildebrand

The debate is about to begin . . .

. . on the President's proposal to privatize Social Security. On
Tuesday, April 26, the Senate Finance Committee will hold its first
hearing on privatization. The start of these hearings culminates a
major 60-day push by the Administration to shore-up public
support for their plan.

Those who advocate privatizing Social Security have put a great
deal of emphasis on the importance of this hearing. It represents
the first legislative step in their plan to funnel vast sums of money
out of the Social Security system. If privatization plans are
enacted, huge benefit cuts would have a devastating impact on
Michigan families.

Because this is so important, I will be joining concerned citizens
from around the country in a rally at the Capitol to support Social
Security, and to express my opposition to any legislation that
includes privatization. This rally is an opportunity to show, once
again, that the vast majority of Americans are opposed to risky
privatization schemes that would drastically increase the national
debt and end the guaranteed benefit for retirees, survivors, and the

Over 30,000 people have joined you in signing the Online Petition
to Keep the Security in Social Security, and I thank you for your
commitment to this issue. As the Senate begins debating this issue,
it is more important than ever to show that the majority of
Americans disagree with these privatization schemes. Please let
your friends and family know that they can register their opinion
by visiting my website at http://www.stabenow.senate.gov/socialsecurity and signing the
online petition.

We need to strengthen Social Security and make sensible changes
for the long term, not dismantle this great program with risky
schemes. As this debate continues, I will keep you informed on our
efforts to stop these privatization schemes from becoming law.

Debbie Stabenow
United States Senator

I know something needs to be done.  I know there will not be enough working people to pay for the soon-to-retire baby boomer generation.  But my problem with privatization of Social Security is all the people who do not have a clue of how the stock market works.   

How are those people going to save or build up a retirement fund?  What happens to them if they have no income?  How many more senior citizens are going to be living under the poverty rate?   Maybe we should look deeper into how other countries care for their elderly. 

As in Japan, where the elders still are the major authority in the house and live with their children and their families.  The same goes for the Middle Eastern countries.   

I'm sure England, Germany, Australia, and Canada have systems in place-I'm not sure what they are, but I'm sure their retired people are not poor and having to choose between medication, a roof over their heads, or food.   

Let's not stay silent on this issue, as it will affect us all and our children, too. 

Talk to your Senator before its too late....  



sieblonde said...

Fed employees already have a private retirement account.  They are given choices.  They can't take the money and invest it in 'Google' or their friend's hot stock tip.  The misconception is that people will be 'given' the money that was once automatically invested in a SSecurity acount.  They won't be.

And there's talk that a private account will be an optional thing.. NOT mandatory.  But even conservative slow growth funds out grow social security.   Remember... most S Security recipients get less than $600 a month in benefits.  S Security is NOT something anyone can live on now or in the future.  

Something has to be done, and I'd not trust the government to look out for anyone's best interest, except theirs.   When it comes to funds to retire on....  and if you weren't a federal employee or top level exec... you better save it yourself.

Face it.. we're on our own folks.  

redbaranjj said...

Its a very scary thought...we all should be involved in the future of Social Security...Bush will just F*CK it up more.