clock menu more-arrow no yes

Filed under:

Social Security timetable not as bad as it seems

Treasury Secretary Timothy Geithner, center, and Labor Secretary Hilda Solis, left, listen as Health and Human Services Secretary Kathleen Sebelius speaks at a news conference on the Social Security and Medicare Trustees Reports, Monday, April 23, 2012, a
Treasury Secretary Timothy Geithner, center, and Labor Secretary Hilda Solis, left, listen as Health and Human Services Secretary Kathleen Sebelius speaks at a news conference on the Social Security and Medicare Trustees Reports, Monday, April 23, 2012, at the Treasury Department in Washington. Trustees update forecasts for the government's two largest benefit programs, which are laboring under the weight of retiring baby boomers, revenue shortages and politicians' reluctance to take painful action to fix them.
Susan Walsh, AP

While AARP Utah understands the concern raised by the Social Security Trustees Report that the program will pay full benefits until 2033 instead of 2036, we disagree with the conclusions made in the Deseret News editorial ("A solution to social security should not be overlooked by Congress," April 25).

First, even if the government does nothing at all, the program will still pay three-quarters of benefits after 2033. Yet few in government or the private sector believe changes are not needed; some have suggested relatively minor fixes, such as raising the income cap or increasing payroll taxes by as little as 1 percent, that could help resolve the shortfall. AARP believes any changes should be supported by the American people and that's why we're engaged in a national conversation called "You've Earned a Say" to hear public opinion about the future of Social Security and Medicare.

Second, establishing private accounts is problematic, not only because of the volatile nature of the market, but because of the cost and potential for fraud. AARP believes Social Security can and will deliver the promises made to Americans who have paid into this program throughout their working lives.

To join AARP's national conversation, go to earnedasay.org.

Alan Ormsby

State Director AARP Utah