“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
“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.