Groups give Sununu a cake to celebrate Social Security
By Brian Lawson, PolitickerNH.com Reporter
Social Security cake: Photo credit: PolitickerNH.comMANCHESTER-- A coalition of organizations gave U.S. Sen. John Sununu (R-Waterville Valley) a birthday cake. The cake though was not for Sununu's birthday. It was to celebrate the beginning of Social Security.
The New Hampshire Alliance for Retired Americans and members of the New Hampshire AFL-CIO stood outside Sununu's senate office to argue that Sununu's voting record on Social Security has been a "disgrace."
"It [Social Security] is something that we as Americans should be proud of and embrace as public policy," said Mark MacKenzie, president of the New Hampshire AFL-CIO.
Charlie Balban, a disabled worker, said without Social Security he would have lost his house.
"Without Social Security I would have lost my home and probably other things I own," Balban said.
Sununu has been the sponsor of several pieces of legislation that would provide people with the option of establishing personal retirement accounts with a portion of the Social Security taxes they pay.
"I have introduced legislation which is scored by the Social Security actuary that makes the system solvent, is scored as bringing the system into balance permanently, has significant personal accounts, and does not require benefit cuts, Sununu said on the floor of the U.S. Senate in March."There are a lot of proposals out there that involve changes to the current system, or even changes to benefits for, say, those at the higher income level, but to suggest that deep cuts are required is simply misleading the American public."
Also taking advantage of the day, U.S. Sen. Barack Obama's Campaign for Change hosted a meet and greet and a Manchester senior citizen complex to discuss U.S. Sen. John McCain's stance on Social Security.
Update: “John Sununu has been an independent voice and effective leader for New Hampshire seniors, preventing almost $800 million in cuts to nursing homes and facilities and fighting against legislation that would cut Medicare Advantage, which could directly affect 8,000 seniors who rely on this program," said Sununu press secretary Stefani Zimmerman in a statement.
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What happened to the days of personal responsibility?
It's the Senators fault, (any Senator, R, D or I) that these people didn't adequately prepare for their retirement? SS was set up as a safety net, but the life expectancy during the 30's was only 63, which meant payouts were extremely low.
I suggest everyone read the famous economist Paul Samuelson's 1967 Newsweek article entitled "Social Security, a Ponzi Scheme That Works."
Two quotes are derived from that article that illustrate that SS is a farce.
"The beauty of social insurance is that it is actuarially unsound. Everyone who reaches retirement age is given benefit privileges that far exceed anything he has paid in - exceed his payments by more than ten times...!
"Social Security is squarely based on what has been called the eight wonder of the world -- compound interest. A growing nation is the greatest Ponzi game ever contrived."
Those quotes right there illustrate that SS reform that is needed. If the Government is going to force people to pay into a broken retirement system then maybe its time we scuttle the old way and look for a more efficient way which benefits the old, and young. Even Sweden allows govt private retirement accounts.
Nice stunt
This was all very clever, but what's REALLY a disgrace is the Elderly Lobby is keeping this program in the 1930s, refusing to allow America to have a proper conversation about restructuring it. At this rate, it will not survive another 73 years because it no longer serves the needs of, and cannot possibly handle, the ballooning numbers of elderly that are coming in just a few short years.
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