Groups Line Up to Oppose Bush Social Security Plan - Reuters

[rndmprsn]

http://www.reuters.com/newsArticle.jhtml?type=domesticNews&storyID=7116091

WASHINGTON (Reuters) - As President Bush begins a big campaign to restructure Social Security, Democrats and a host of interest groups are mobilizing to fight his private account plan and protect the traditional retirement system.

Opponents hope to counter Bush's arguments that the current program faces financing problems that make it unsustainable and that allowing workers to invest some Social Security taxes in stocks and bonds will secure the system for younger workers.

"This is a manageable problem," said Rep. Robert Matsui of California, the top Democrat on the House Ways and Means Social Security subcommittee. "He is trying to create a crisis."..

...Social Security faces increasing financial strains as the baby boom generation begins to retire. By 2018 the system will start to pay out more in benefits than it takes in from taxes. Between 2042 and 2052, the trust fund will be exhausted and taxes will cover about 72 percent of promised benefits.

A number of groups opposed to restructuring Social Security, including advocates for the disabled, senior citizen groups and AFL-CIO unions, announced on Thursday they are forming a coalition to counter what is expected to be a major White House's push to promote private investment accounts.

[Cocoa]

1. and the mainstream media has lined up with Bush

the TV pundits, reporters, and anchors are the sworn enemies of the people described in this article.

[ooglymoogly]

3. they are the enemies of democracy period eom

[PROGRESSIVE1]

2. Where do I sign up to stop this?

[Cocoa]

4. contact your reps in Congress

that's where it's going to happen.

[struggle4progress]

5. kick

:kick:

[MasonJar]

6. Oh, sure, contact Mitch McConnell, Jim Bunning and Anne

Northrup. Why bother? What can I do instead?

[Straight Shooter]

7. Contact other Congress critters, maybe from neighboring states

Any Congress "big names" will do: Feingold, Pelosi, Biden, Reid, et cetera. I don't know the names, but a little googling will tell you who the moderate Repubs are that you can contact. Not all Repubs are gung-ho about Little Boots destroying the future.

Write to your local paper, your state paper, and a national paper such as New York Times and Washington Post.

:thumbsup:

[tsuki]

9. Don't call Allen Boyd, D-FL. He wants to co-sponsor the pimp slap

social security bill.

[rox63]

13. Do it anyway

Even if you think it's a waste of time, contact your state's Repugs anyway. Tell them that if they allow this travesty to become law, you will do everything in your power to make sure that they never get elected to any office ever again.

[zann725]

8. I'll bet A.A.R.P. is organizing something (since S.S. is their expertise)

...and like they said, Disability Groups (since S.S.D.I. is also Social Security...although most forget about the Disabled people being shut out of this reform as well.

[HockeyMom]

10. Mother of 20 something daughters

If my daughters and their friends are any indication, this will be as popular (private accounts) with the younger generation as the Prescription Drug Bill was among Seniors.

"That is GAMBLING". "How the hell do I KNOW what the stock market will do in 45 YEARS." "The LAST thing I need is to have to PAY MONEY to a BROKER". "I have neither the TIME NOR THE MONEY for this."

[zann725]

25. That's the irony...our Economy and the Market are bound to tumble soon...

given the Admin.'s 'money-management' skills. So encouraging people to invest in 'private accounts' based on stock market investment,is almost sure to be a disaster.

Regardless of one's age, a group like A.A.R.P. might be a good place to start, since they are already organized in the S.S. arena, and are more familiar than most with the laws relating to it. And their membership base is so large, they are one of the strongest lobbying group. I'm sure they'd welcome people of all ages to join in their objection to "privatization."

[rockedthevoteinMA]

11. they are they sent this letter out to their 35 million members the

other day:

"Our country needs a full national discussion of all the ideas on the table. One idea being put forward is in the wrong direction for fixing Social Security and will actually make the problem worse, not better. Taking some of the money that workers pay into the system and diverting it into newly created private accounts would weaken Social Security and put benefits for future generations at risk.

AARP is opposed to private accounts that take money out of Social Security.

In addition, private accounts are expensive. Just to switch to this new system could require as much as $2 trillion or more in benefit cuts, new taxes or more debt. Most of us would then have to pay twice to gamble on this new plan-first to keep our commitments to current retirees and again to pay into these private accounts. Some critics of these personal accounts think that Wall Street, not retirees, would be the real beneficiaries.

Now that Social Security has moved to the top of the political agenda, we must all work together to protect it. America must keep its promise to the retirees of today and tomorrow. We urge you to join AARP in the fight to ensure that Social Security's guaranteed and inflation-protected lifetime benefits stay in place for generations to come."

http://www.aarp.org/socialsecurity/Articles/a2004-12-01-social_security_wherewestand.html

[Thurston Howell IV]

12. Well, that's good news

You'd think that if AARP is against it and pushing out letters to millions of its members, that the proposal is dead in the water.

[steely]

16. Hmmm, we didn't get one - the link says open letter....

does that mean they just published it on the web, or do you know for sure it was snail mailed?

N/t Their intent seems positive, but since I have lost a lot of faith in them, I don't trust them much anymore. flip-flopping flip floppers.

[rockedthevoteinMA]

17. I saw an article sometime over the last week about this

(on here). I don't know if they mailed it out - sorry.

Yeah - I agree, after selling out on the Medicare bill they don't get much respect from my family. My grandmother and all of her friends canceled their memberships after that.

[steely]

31. my wife didn't cancel - and spouses automatically get free

co-subscriptions (sort of) - the mag delivery bugs me now.

[zann725]

26. Thanks for that website info. It has a form letter to Congress to send...

I sent off an email to my Rep's. We might want to create a new thread with a shortcut to it...since it contains the form letter to Congress. Particularly since so many threads recently are discussing everyone's upset with "privatization."

[annabanana]

18. It MIGHT give AARP a chance to regain it's good name

after it's disastrous endorsement of that limp "discount cards" plan.

[stevebreeze]

19. you can always tell you friends and neighbors and write a letter

to the editor of your local paper.

[caligirl]

14. called Feinstein will post her response here

Dear Mrs. xxxxx:

Thank you so much for writing to voice your
concern about the future of Social Security. I appreciate
hearing from you and I welcome the opportunity to
respond.

Social Security is a very important issue, as it is
the principal source of retirement income for two-thirds
of the elderly and at least 15 million senior citizens rely
on it to stay out of poverty. Unfortunately, Social
Security's treatment in the federal budget is often
confusing. Social Security taxes are deposited in the
U.S. Treasury. Although there is no "separate" pool of
money set aside for Social Security, these tax receipts are
referred to as the Social Security trust fund.
Administrative and program benefits are also paid from
the Treasury. The funds that are not used to pay benefits
or for operation of the Social Security Administration,
are invested in U.S. government bonds. When the
Administration buys U.S. bonds, the agency, in effect,
lends money to the government. When the Social
Security Act was initially enacted, it was stated that the
government must pay Social Security back with interest
if money was "borrowed.@ Thus, if Social Security's
income exceeds its outgo, this "surplus" is credited to the
Social Security trust fund in the form of U.S. government
securities, but the actual money is used to pay for the
various expenses of the government.

As a result of budget surpluses in the late 1990s,
budget resolutions enacted for FY2000, FY2001, and
FY2002 reserved a portion of surpluses from Social
Security and Medicare Hospital Insurance for debt
reduction, pending reform of Social Security or
Medicare. Congress has also considered several
proposals to create procedural obstacles for bills that
would use these funds for other tax cuts or spending
increases. Since the September 2001 terrorist attacks,
however, budget debates have focused on increased
spending for the war on terrorism and economic stimulus
efforts.

Your question as to whether or not your future will
be secured is a common concern. Like you, I recognize
the importance of keeping Social Security sound and
ensuring its solvency for older Americans. Most policy
makers agree that the rate of growth of this program, as
well as the oversight of its expenditures, must be
addressed to ensure its integrity and preservation. I am
confident that if Congress works together, it is possible
that Social Security can meet its long term commitments.

Once again, thank you for contacting me. I hope
you will keep in touch on issues of importance to you.
Should you have any further questions or concerns,
please do not hesitate to call my Washington, D.C. office
at [phone].

Sincerely yours,

Dianne Feinstein
United States Senator

http://feinstein.senate.gov

[rockedthevoteinMA]

15. Seems kinda like a non- answer -

Or am I confused? :shrug:

[annabanana]

20. It's a 'google" answer

it assumes that you need a definition of SS...

I'm writing that we can't afford to GAMBLE the funds in the stock market. This proposal is RECKLESS and IRRESPONSIBLE.

No one wins except the FUND MANAGERS.

frame, frame, frame

[caligirl]

23. That was what I said to her in a few words

That since Senator Frists campaign lost $500,000+ of campaign funds they had invested in the stock market(leaving the campaign with a - balance and a 630,000 loan) I was hoping she would remind him of it in the SS discussions on the senate floor.

[cosmicdot]

29. "if Congress works together"

:eyes:

... those don't sound like fighting words to me ...

I expect her to stay the course and support the 'reforms' just as she did with the kick-start effort to undermine the Great Society/New Deal: the massive tax give-away. We knew what was happening. Am I to believe she's naive?

I expect her to sell us out, and vote with the Republicans.

It's all part of the plan ... the tax cuts, the wars, the deficits ... the corporatists are bellying up to the trough to benefit from the dismantling a'coming-and-a'going; and, I'm sure Dianne is more than willing to do all she can to lend a hand.

Wish she would prove me wrong.

:mad:


"Army Contract Has Ties To Senator Feinstein" http://www.tolstoy.com/lonewacko/blog/archives/000468.html

"Feinstein's Husband Profiting Off Of War"
http://lists.iww.org/pipermail/iww-news/2004-March/004641.html

"SF Firm Awarded Contract in Iraq"
http://www.corpwatch.org/article.php?id=11123

Poppy Bush's The Carlyle Group was in business with DiFi's husband's business up until not too long ago. Must make for a difficult conflict to legislate against one's own interests ...

Such questions have surfaced again in the wake of the $600 million military contract won by EG&G Technical Services, a new division that URS purchased in 2002 from the well-connected Washington, D.C., investment firm the Carlyle Group.

Carlyle is a $14 billion buyout firm whose associates and advisers include former President George Bush, former British Prime Minister John Major and former Securities and Exchange Commissioner Arthur Levitt. As part of EG&G's sale price, Carlyle acquired a 21.74 percent stake in URS -- second only to the 23.7 percent of shares controlled by Blum Capital.

http://www.sfgate.com/cgi-bin/article.cgi?file=/chronicle/archive/2003/05/11/BU18813.DTL

I just can't trust her, and that's disheartening.

Can't count on her to stand up and challenge Fraud 2004 either ... our government has been usurped ... treason has been committed ... we're in need of patriots of the stature of Patrick Henry ... she won't be there For the People.

[Kimber Scott]

21. I'm sorry but, I do not want the Enrons of the world in charge of my

old age.

[zann725]

27. I think they already are. That's why we need to re-count,and remove soon!

n/t

[napi21]

22. This whole idea is complete BS!

SS wouldn't be in trouble if congress hadn't spent the contributed funds! If they have to barrow to pay back the IOU's so be it!

The whole thing is smoke and mirrors. You have $$ deducted from your pay check to support SS, congress spends it, and now doesn't want to have to borrow $$ to pay it back to you!

I personally don't care if they want to invest the SS funds into the market to get a better return, but they need to do it with the contributed funds as an entity investment, PAY BACK WHAT THEY BORROWED, and leave the SS system as we know it ALONE!

[olddad56]

24. of course it is BS.....but

It is going to happen. How are you going to stop them. We haven't lived in a democracy since 2000. That election was rigged and so was the last one. They own congress, they own the Supreme Court, They own the main stream media, they own us. We are 'governed' by corporate fascists. Our government is a wholly owned subsidiary of Corporate America. The financial companies were the largest campaign contributors in the 2004 erection. You really think they 'donated' those millions without a guarantee of the SS thing happening. It will happen and by the time it does, the sheeple will be cheering it on. Every time you pick up a newspaper or watch a news channel on TV, you are going to be bombarded by the SS insolvency and how urgent it is that we fix the system. They same fucking idiots that voted for Bush will be feeling relieved when their leader has solved another terrible problem. It is time to let it go and realize that democracy is over for the citizens that choose to remain in this country. And don't worry about your kids and grandkids growing up in this oppressive climate. They won't be growing up much past the eligible age to be drafted and fed to the 'terrorists'. Those people who hate freedom so much we have to invade their countries and liberate their oil. Okay, I got all of that out, I feel better now.

[zann725]

28. They spending our monies! That's Grand Theft! Maybe it's time for...

a Class Action so huge...the term 'frivolous lawsuit' just wouldn't fit!

[zann725]

30. There's also a group called "ourfuture.org" which is fighting this fight.

to preserve Social Security. Their press conference was on C-Span today. Check out "ourfuture" website, OR C-Span's website to see if this show will replay this weekend...or stream it. It's a quite informative press conference.

Also, "Consortium for Citizens with Disabilities" was present at the press conference, and said they are seeking to protect SS Disability benefits. Their representative said: "Social Security is an Insurance program, NOT an Investment program."

Also, WIlliam Spriggs of "Economic Policy Institute" spoke at this press conference, confirmed that Bush is CURRENTLY spending the "surplus" of income coming into Social Security from workers right now. That is WHY there will be a shortage in the future...NOT that there is not enough coming in, but that Bush is spending it elsewhere. BUT even given that robbery...Spriggs said that there still will be enough to pay out SS benefits for 45-55 years from now!

We need to do two things: Stop the robbery of our Social Security contributions by the Admin; AND spread the word that SS is solvent for 45-55 years. NO NEED TO PRIVATIZE!!