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AMAC: Depletion of Social Security and Medicare Funding is a ‘Clear and Present Crisis’

dan-weberDan Weber says he is shocked at the complacent attitude of the administration over the fate of these programs – 

BOHEMIA, NY, June 7 – “The latest review of Social Security and Medicare funding shows they are going broke, but Treasury Secretary Lew and Health and Human Services Secretary Sebelius say there is little cause for concern.  They believe it’s ‘good news’ that it will be years until these trusts run out of money.  They claim there is plenty of time to make needed fixes.” noted Dan Weber, president of the Association of Mature American Citizens.

“Nonetheless, the money is running out,” Weber said, noting that he is shocked at what he called the complacent attitude of the administration over the fate of these programs.  “Is the lack of urgency a signal that Social Security and Medicare reform plans are being shelved?”

In the annual report issued last week, Weber pointed out, the independent trustees of the funds saw fit to add this chilling comment before signing off on the document: “It is important to grasp that the amount of time remaining to enact a financing solution that is both reasonably balanced and politically plausible is far less than the amount of time projected before final depletion of Social Security’s combined trust funds.”

The AMAC chief said one of the most important missions of the association is to achieve reform before it is too late.  “We are active among lawmakers in Washington and making a concerted effort to get the media to adopt Social Security and Medicare reforms as key issues that need the immediate attention of Congress and the White House.  We also want the print and electronic media to begin acknowledging that Social Security and Medicare are not entitlement programs, but retirement and health care trusts that we have been paying for all our working lives.”

Calling the situation “a clear and present crisis,” Weber explained that the portions of the Social Security and Medicare Trusts dedicated to benefits for 11 million workers and their dependents will be depleted in less than three years.

The two independent trustees, Robert Reischauer and Charles Blahous, both noted economists, seem to agree that the situation is desperate.  Reischauer put it this way: “Under current law, both of these vitally important programs are on unsustainable paths.”  Blahous said we don’t have much time left in which to act.

Weber said he believes our lawmakers in D.C. are savvy enough to be able to “walk and chew gum at the same time and so are quite capable of dealing with the recent spate of Washington scandals and tackling Social Security and Medicare reform at the same time.  With the help of our membership will continue to press them for solutions.”

 

NOTE TO EDITORS: Dan Weber is available for telephone interviews on this issue.  Editors/reporters may contact John Grimaldi at 917-846-8485 or jpgrimaldi@verizon.net to set up a call.

 

ABOUT AMAC

The Association of Mature American Citizens [http://www.amac.us] is a vibrant, vital and conservative alternative to those organizations, such as AARP, that dominate the choices for mature Americans who want a say in the future of the nation.  Where those other organizations may boast of their power to set the agendas for their memberships, AMAC takes its marching orders from its members.  We act and speak on their behalf, protecting their interests, and offering a conservative insight on how to best solve the problems they face today.

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Wendell Keith

To: DrJCA1 The religious nuts were what kept this country going as well as it has. God put the leaders in place and now that anti-God people have pretty well taken over, he is giving us our reward with the leaders we have seen. Change your attitude or lose everything. A country without God doesn’t last long. It’s my understanding that this country’s government has lasted longer than any other.

peter ferretti

Solve all our current problems by simply IMPEACHING OBAMA! They tried to Impeach NIXON over an enemy list on a piece of paper This Pres. has gotten all kinds info. on 100 million people who probably didn’t vote for him! Is this too minor for Impeachment ,or are Repubs. too lazy to do anything? Why start by investigating the Janitors and Admin. Aides?

JohnnyMass

Why does the govermnent stop deducting Social Security from persons once they hit around $120,000 for the year? There should be no threshold at which one stops paying in. Those who make $120,000+ should pay in more, All this does is let those who could well afford to contribute more put more money which they probably wouldn’t miss into their own pockets.

peter ferretti

You force Term Limits by voting out all incumbents, but most people are too stupid to do this ! Let’s get ready for our turn at 50 years of enslavement where we all must vote for a single list of incumbents all the time!

Leslie R. "Les" EASLEY

It is time that a Major T Party be held. There is no question that we are being taxed and not adequately represented. If we dumped all of the excess “baggage” sucking on the teat of GOV.COM, there would be at least 100,000 federal employees (in D.C alone), seeking gainfull employment. We who have trusted that our deductions from our pay for 35 to 40 years, allowed those funds to be used for pork projects by practically every representative an senator. The funds could be shown for each wage earner who paid in to the SS system since day one, and every person retired or about to retire would know just how much they have paid into the system. Once that is known, which would be a minor task for the super computers, each living recipient should be given the choice of a monthly payment or to receive their account… Read more »

DrJCA1

I had high hopes for this organization, but it seems like the religious nutjobs have taken over it just like the fringe liberal freaks have taken over the left. If you cannot seperate you beliefs from the actually important issues, such as jobs, the economy, and our future as a nation (dealt with sensibly, not from a holy-roller viewpoint), we will never win any election again.

Bravo 9

I may be late to this thread, but I just learned that a member of my extended family just had a baby out of wedlock. The baby’s daddy is diagnosed with bi-polar disorder and is on SSI. Therefore, the baby is immediately enrolled into the Social Security System. What a country!

peter ferretti

Impose your own Term Limits —- NEVER EVER VOTE FOR AN INCUMBENT whether they are outstanding, mediocre, or most likely corrupt—don’t ever re-vote for someone in office — ONCE AND DONE!!!

John Murray

I am glad to hear someone else expound on the use of the word “entitlements”. When you pay for a loaf of bread, does that make thye bread an “entitlement”? Call in the congressional IOU’s…even if it has to come from the congressional mretirement coffers…..This country is split, suffering economically, and spiritually due to the current administration. No one that I am aware of has taken any hit at all financialy. not in congress, the executive branch and all it’s appointees, nor in the Judiciary who doesn’t know how to read the constitution word for word, with out twisting it’s meaning to suit their or their friends needs &/or uses. Even typing this makes me a little sick to my stomach! In some parts of Massachusetts we have a saying……”Let’s bring America back to Jesus”! After all, this country was founded on Judeo-Christian principles. If our current president say’s we… Read more »

Wendell Keith

I’d love to see a litmus test administered, but you know that the Supreme Court will find it “Unconstitutional”. Can’t prevent anyone from voting, you know. I see nothing good coming, until resurrection day. Satan is now allowed to control the world and he is doing great at what he does, which is terrible for us. Watch your wallets and purses folks, from Rev. chapter six it looks like the third horseman with the economic destruction is about to be released.

Marcia Cahoon

I agree with all that has been said in the article and the comments but the bottom line is if the Government would keep their hands of the funds and stop all the abortions, then the hard earned money would be there and it would be replenished because all the babies that have been aborted would be alive and would grow up to get employment and therefore, would contribute to both funds.

Gloria

No one has provided the ONLY solution to the whole mess: God, the Almighty One. I present to you that, whoever can, should do like they did in Joshua chapters 5:13 – 6:1-20. Then, it was Jericho, but in case we forget, God does not change. There is no turning or darkness in Him. He can do as He pleases, and can answer prayer — however, seems like few are praying. But the plan: march around the city of D.C once every day for six days. On the seventh day, march around the city seven times with priests blowing the trumpets (do all this peacefully of course and, unlike, Joshua’s men – no guns) Then, when there is a long blow on the trumpet all the people give a loud shout; then the wall of the city will collapse and the people will go up, every man straight in. So… Read more »

Phil

Do write, call and/or email your Congress representative and your State Senators on a regular basis voicing your concerns? Venting your spleen here is worthless. I pound away at my representatives constantly. They are good about responding. If yours don’t respond……..find out why!

WRITE, PHONE, EMAIL YOUR REPRESENTATIVES AT LEAST ONCE A MONTH IF NOT MORE. MAKE YOURSELF HEARD……….LOUD AND CLEAR!

Ann

An RN of 40+ years: Medicare, as we know it, is the biggest scam ever perpetrated on an all too willing public. It is the number 1 most highly regulated industry in the country with nuclear waste second. Billions are spent simply complying with regulations now, and there are 120,000 more in the Obamacare bill. There are a myriad of private businesses doing well by teaching health care providers how to navigate the Medicare maze. The number of companies, both public and private, employed to audit health care providers, including hospitals, home health agencies and hospices, fill a book. One of the newer ones “the RACs”, Recovery Audit Contractors, receive a commission based on any and all errors found. There is at least as much fraud and abuse, if not more, in these entities, as in the health care industry. Both public and private. Medicare is most certainly an entitlement.… Read more »

Tony Apap

The article by Daniel Webster about Social Security (SS) is full of errors and half truths. According to the SS Administration, if no changes are made to the system, SS will start start running in the red in 2023. In 2012, SS reported a $56.7 billion surplus! In addition, it is estimated that the the $2.7 trillion SS Trust Fund will allow SS to continue paying full benefits until 2037. After 2037 SS estimates that SS taxes will enable it to keep making payments equal to 76% of scheduled benefits. If politicians and others start telling the truth about SS, most Americans will be able to breathe a sigh of relief.

Tony
Retired Finance Professor

Arthur

“America” ended 100 years ago when it was handed over to an oligarchy known as the Federal Reserve. They live, we sleep.

L

Correction , I meant to say Congress–not some congress

L

This e-mail with all the comments should be sent to some Congress!

Harmonious

A simple solution is to begin “now” to redirect payments on receipt by the SSA to the twenty six largest insurance companies to administer, invest, and accumulate surplus *not* available to the administration or congress. More on this at tbepp dot org.

roger williams

I HAVE SEVERAL RESPONSES TO THIS… I AM DISASBLED PERMANENTLY AND HAVE TO LIVE ON SOCIAL SECURITY AND MEDICARE… DAMNED JOB… SO EVERY TIME I SIT BACK AND LOOK AT WHAT I PAID INTO THIS DEBACLE OF A SYSTEM FOR THE 42 YEARS THAT I DID WORK,,, I AM EXPERIENCING A FEROCITY LIKE I HAVE NEVER KNOWN… — WHAT DID YOU EXPECT? A TUNA ON RYE??? THIS USURPER POTUS WILL CONTINUE TO DESTROY DEMOCRACY IN THIS COUNTRY UNTIL SOMEONE TAKES HIM OUT… I AM SUPRISED HE MADE IT OUT OF ISRAEL ALIVE…. NEVER SEND A BOY TO DO A MAN’S JOB YOU STUPID VOTERS…. AMERICANS YOU ARE VERY STUPID PEOPLE.. YOU CAN THANK THE US DEPARTMENT OF EDUCATION FOR YOUR STUPIDITY… CREATING MORONS SINCE JIMMY CARTER INVENTED IT IN 1979… KENNEDY WAS SO STUPID — RIDING AROUND IN A CONVERTIBLE… I HAVE TAKEN UP ENOUGH OF YOUR TIME.