| March 2023 | Forward | View in Browser |
| Foundation Advisory Staff Plays Major Role in Debunking Myths |
| As anticipated, the 118th Congress convening in January brought with it a heightened interest in Social Security and the recognition -- finally--that we're a mere decade away from a major financial setback for America's seniors. Although the arrival date for full depletion of the program's financial reserves is somewhat unclear - some official sources say 2032, others say 2035 - there is consistency on the basic problem: the program is on an unsustainable trajectory. Recognizing the perils ahead has proven to be fertile for a variety of news sources to weigh in on the problem, and the result has been an uptick in questions from the public to our Social Security Advisory staff on the program's financial troubles. Some of the questions are on the order of “What's really going on?” while others offer conjecture on the origins of the looming reserve cash shortage. Most persistent in this latter category is the oft-repeated myth that “politicians have raided Social Security through the years,” with the money paid into the program used for purposes having nothing to do with Social Security's original intent as a safety net for elderly, unemployed, and disadvantaged Americans. For the past several years, our Advisory Staff has routinely responded to these inquiries as an opportunity to educate the public on first, how Social Security's financing actually works and second, how America's demographics have changed over the 87 years since the program was signed into law. Our responses typically reaffirm that every dollar ever contributed to Social Security is accounted for and is in fact, reported officially to Congress each year. Our objective in responding to these inquiries, while embodiment of or mission to support and educate America's seniors, is also to stress that Social Security must be preserved, and to accomplish that requires a complete understanding of what must be done to adapt the program to 21st century demographics. From a legislative perspective, there are two key options: (1) do nothing and force all Social Security beneficiaries to face a devastating benefit cut or, (2) modernize and reinforce the program to meet the promise for current and future generations. Our Foundation Social Security Advisory Staff is proud to be using its collective knowledge of Social Security's operating structure in a consulting capacity to help AMAC Action advance a realistic solution to this vexing problem. |
| Honorable Mentions |
 D. Gutzman, Missouri - US Army, Vietnam, 7 years M Beaumont, North Carolina - US Army, Aviator, Vietnam, 6 years M Teninty, Florida - US Navy, Corpsman / Aviator, Retired |
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