Social Security is not in crisis

Being worried about Social Security, I went to a retirement conference where these facts were shared:

-- The program today lifts 13 million seniors above poverty.

-- Social Security works by a social insurance system/FICA: Almost everyone contributes and almost everyone benefits. Workers and employers each pay 6.2 percent of their earnings up to a $106,800 cap.

-- There is a $2.5 trillion surplus in Social Security. U.S. Treasury bonds fund Social Security.

-- Social Security can't borrow or add to the federal deficit. Eventually, if nothing is done, the trust fund will run out of money. It can be secured for the future by raising or eliminating the payroll cap and/or increasing FICA by 1.1 percent (to 7.3 percent).

-- Last February, President Barack Obama created a commission to study ways to decrease the federal debt. The commission's report is due Dec. 1. Of the commission's 18 members, six were appointed by Obama and 12 named by Congress (six from each party). Thus the uncertainties.

What can “we, the people” do to ensure a strong Social Security for the future?

-- Speak truth to rumors. Social Security is not in crisis. Baby boomers will not collapse the system. Social Security is not in debt and is not filled with IOUs.

-- We can tell Congress: Don't use our money for the deficit. No Social Security cuts. No retirement age increase. No risky privatization. Keep the present system secure. Submit comments to the commission at

commission@fc.eop.gov

Peggy Bramman

Manchester