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John,
Today, the Social Security Board of Trustees issued their annual report on the health of the program.
Here’s what they found:
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Social Security has a $2.9 trillion surplus thanks to its dedicated funding.
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Social Security can pay all promised benefits through 2035, and 85 percent of promised benefits for the next fifty years, even with no Congressional action.
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At the end of the century, Social Security is projected to cost just 5.86 percent of our GDP.
This report shows that we can afford to expand our Social Security system―but only if we defeat Trump’s schemes to defund it! Pitch in $7 today to fight back!
These numbers are encouraging―and not at all what you hear in the media. That’s because of a decades-long strategy hatched in right-wing think tanks to undermine confidence in our Social Security system.1
That strategy is still being executed from the White House, as Donald Trump has repeatedly used the pandemic to call for permanently defunding Social Security―which would surely lead to its destruction.
The coronavirus crisis shows that we need to increase, never cut, Social Security’s modest but vital benefits.
Democrats have several plans to do that, including the Social Security 2100 Act, which has 208 co-sponsors in the House, and which has been the subject of numerous hearings.
The wild swings in the stock market have shown the dangers of putting our nation’s retirement security solely in risky bets like 401ks. Social Security has paid every benefit in full and on time for 84 years.
We’ve already seen elite opinionmakers in the Op-ed pages start beating the drum for deficit reduction after the crisis passes. This is the preamble to eventual calls to cut Social Security and Medicare. We’re fighting back.
Chip in today to stop Trump’s scheme to defund our Social Security system!
Thanks,
Alex Lawson
Social Security Works
1 https://www.cato.org/sites/cato.org/files/serials/files/cato-journal/1983/11/cj3n2-11.pdf
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