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    THE NATIONAL COMMITTEE TO PRESERVE SOCIAL SECURITY AND MEDICARE
    ~ Celebrating 25 Years of Advocacy for Older Americans ~

    July 9, 2008

    NEWS RELEASE

    Social Security is Not a “Disgrace”

    National Seniors Advocate Reacts to Senator John McCain’s Latest Social Security Comments

    Former Congresswoman Barbara B. Kennelly, leader of one of the nation's most successful senior advocacy groups, today reacted to the negative and misleading statements about Social Security made by Senator John McCain this week:   

    “Americans have got to understand that we are paying present-day retirees with the taxes paid by young workers in America today. And that's a disgrace. It's an absolute disgrace, and it's got to be fixed.”  John McCain, Denver Economic Town Hall, July 7, 2008

    “They (working Americans) pay their taxes and right now their taxes are going to pay the retirement of present-day retirees. That's why it's broken, that's why we can fix it. John McCain, CNN American Morning, July 8, 2008

    “Since its inception, Social Security has been a pay-as-you-go system.  That's not new and it's certainly not a disgrace. To suggest that Social Security is fundamentally ‘broken' because of this fact, shows a lack of understanding of the program, its traditional role and the need to preserve and strengthen it for the future.”... Barbara B. Kennelly

    The National Committee has worked vigorously to help the public understand the truth that Social Security is not broken.  This year Social Security has an accumulated surplus of over $2 trillion. By 2016, that surplus will be over $4.2 trillion or more than four times the amount needed to pay benefits in that year. Social Security may require some modest adjustments over a period of time, but it does not face an insurmountable crisis requiring major structural changes. 

    National Committee members and supporters nationwide understand the critical role Social Security plays in the lives of America 's retirees, the disabled and their families.  For more than 70 years, seniors and their families have relied on Social Security and without this critical safety-net program, over half of all older Americans would fall into poverty.  NCPSSM supports efforts to strengthen the program for the long-term and strongly opposes the privatization of Social Security.

    Media Inquiries to:
    Pamela Causey 202-216-8378/202-236-2123
    Kim Wright 202-216-8414
    www.ncpssm.org

     

    The National Committee is a nonprofit, nonpartisan organization that acts in the interests of its membership through advocacy, education, services, grassroots efforts and the leadership of the board of directors and professional staff. The work of the National Committee is directed toward developing better-informed citizens and voters.