Center for American Progress: a strategy for defending Social Security

[eridani]

http://www.americanprogress.org/issues/2010/12/building_it_up.html
http://www.americanprogress.org/issues/2010/12/pdf/social_security.pdf
http://www.americanprogress.org/issues/2010/12/pdf/social_security_exec_summ.pdf
http://www.americanprogress.org/issues/2010/12/pdf/social_security_fast_facts.pdf
http://www.americanprogress.org/issues/2010/12/pdf/social_security_comparison_table.pdf

Progressives must stand up to these attacks on Social Security but also tackle the long-term challenge of modernizing Social Security so that it can offer the best insurance benefits to those who need them the most. This means updates to address demographic and economic changes that have occurred over the past few decades as well as Social Security’s long-term financial challenges so that we can provide these modernized benefits for generations to come. In 2037, all of those participating in the program will suddenly receive benefits one-quarter below what they were promised—if nothing changes. This would be an unprecedented break in the generational agreement in place since the 1930s to support everybody’s retirement and those struck by disability or the death of a primary breadwinner. (See Box)

These challenges—both the conservative assault on Social Security and the need for modernization—cry out for progressive changes to Social Security to ensure the program’s long-term viability without jeopardizing the values on which it was built. Social Security is in no immediate danger of financial insolvency—the long-term financial challenge is being used by conservatives simply as an excuse to destroy the program. But Social Security does need to change in order to strengthen the program for the rest of this century.

Our nation must rise to meet these twin challenges today. Conservative plans to dismantle Social Security represent a clear and present danger, but another lesser danger is to reject any calls for updating the program. Progressive governance requires us to modernize this program to provide a strong and fiscally sustainable Social Security system to meet the economic challenges of our age. This is not the political fad of the moment, but an economic imperative for each and every generation of Americans.

[eridani]

1. Kick for Sunday n/t