A letter from my state rep

[seaj11]

Jack Kingston (GA-01) sent me an invitation to a meeting about social security reform. I don't think I'll go, but I would like to know more about social security and the Republicans' claims about it. Here are the points he outlined in the letter:

* "In 2018 Social Security will be in the red—paying out more money than it is bringing in.
* The debt will be so bad that by 2042 benefits will have to be cut by 27% unless we make reforms.
* However, the President has said that we can make reforms without raising taxes, cutting benefits, or changing the program for people 55 years or older.*
* The number of workers has been rising since the 1950's, but the number of retirees has been increasing even faster.
* In 1950, more than 16 workers paid into Social Security for each beneficiary.
* Today, only 3.3 workers support each beneficiary.
* By the time today's 30-year-olds retire, only 2 workers will support each beneficiary."

* Kingston says that Bush has proposed "voluntary personal accounts" for young workers which "would work the same way as the federal government's Thrift Savings Plan."

Is Kingston accurate or way-off in these claims? Would a TSP-like youth plan really help the problems with social security, if such problems exist? Thanks.

P.S. MoveOn.org is asking people to post information about such local meetings.

[mmonk]

1. They are creating the debt

thereby creating the "crisis".

[JanMichael]

2. He's a liar. IIRC the CBO has 2052 as the date when the surplus gets...

...tapped. Not 2018. Then there's about an 80% covergare over the next 30 or so years with that dipping into the trust fund.

If you want harder numbers look up Paul Krugman and his last few editorials spell out the SS lies by the repukes pretty clearly.