WASHINGTON, DC, July 25 – The recent report issued by the non-partisan Congressional Budget Office declaring that the Social Security Trust will be “exhausted” by 2030 requires clarification, according to the Association of Mature American Citizens.
“But, the Trust will be in peril only if the President and Congress do nothing to prevent such an outcome,” explained Dan Weber, president of AMAC.
“But even if nothing is done and the combined Old-Age, Survivors, and Disability Insurance Funds [OASDI] are used up in 16 years, the Social Security Administration would still be able to make partial payments. The government would still be collecting SS payroll taxes and, thus, would be able to pay benefits albeit at reduced rates.”
Weber is confident that will not happen. He believes that the American people would not accept benefit cuts and our lawmakers would be forced to take action.
“There are several ways to avert a crisis,” he added. “To help spur our lawmakers to action, AMAC has introduced a proposed Social Security Guarantee. It will provide more money to older Americans living on a small income, add an enhanced voluntary savings plan and keep Social Security solvent for the next 75 years- all without raising taxes!”
Please see the AMAC Social Security Guarantee at www.amac.us
NOTE TO EDITORS: Dan Weber is available for telephone interviews on this issue. Editors and reporters may contact John Grimaldi by phone at 917-846-8485 or via email at [email protected] to set up a call.
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. Live long and make a difference by joining us today at http://amac.us/join-amac.