Retirees Proud But Anxious as Social Security Turns 75

August 13, 2010

“True American Success Story” Threatened by False Claims, Ideology

For Immediate Release
August 13, 2010

The following statement was issued today by Edward F. Coyle, Executive Director of the Alliance for Retired Americans, on the 75th anniversary of President Franklin Roosevelt signing Social Security into law on August 14, 1935.

 

“Retirees have much to be proud of as Social Security turns 75.  It is a true American success story, one that has kept generations of seniors out of poverty, and allowed millions to retire with dignity and peace of mind.  But this milestone anniversary is tainted by calls, in the name of deficit reduction, to cut Social Security benefits and raise the retirement age.

 

“Current and future retirees have reason to be concerned.  First, the claims that Social Security adds to our deficit are just plain wrong. Social Security is fully-funded through payroll taxes on workers and employers; it has not added a cent to the federal deficit. 

 

“Secondly, raising the retirement age to 70, as House Republican Leader John Boehner recently advocated, would be devastating to those who work in the construction, manufacturing, and service sectors. A study by the Center for Economic and Policy Research showed that 45 percent of workers age 58-69 are in physically demanding jobs.  Moreover, Americans with lower income and education levels have not experienced any increase in life expectancy, unlike those in the top brackets.

 

“It is also disturbing to hear Senate candidates such as Sharron Angle, Ken Buck, and Dan Coats advocate for a privatized Social Security system tied to the whims of the stock market.  This reckless approach turns a blind eye toward the myriad scandals and crashes on Wall Street in recent years.

 

“The Alliance for Retired Americans is keeping a sharp eye on congressional candidates across the country, as well as the National Commission on Fiscal Responsibility and Reform.  We will spend the coming months educating and mobilizing retirees to protect the Social Security benefits millions of seniors count on each month to make ends meet.”

 

# # #

Contact: David Blank (202) 637-5275 or dblank@retiredamericans.org

/75th_anniversary_national_release.pdf