Letter to All Democratic Presidential Candidates:
While the issues of health care reform and lowering prescription drug prices have been receiving their due consideration in many campaign events and related media coverage, Social Security, an equally important program for workers, retirees, the disabled and their families, has not yet been afforded the same level of attention from candidates.
We would like to hear this topic introduced during the many scheduled debates, however, rather than waiting for a media prompt to induce discussion about Social Security’s future, I encourage you to be very proactive in raising this topic as frequently as possible when you meet with voters around the country.
After all, there are 188 million Americans who are registered to vote and there are 175 million American workers covered by Social Security. Sixty-three million Americans currently receive Social Security benefits including retirees, the disabled, and their families. And, approximately $1.6 trillion is the amount of annual economic impact these Social Security benefits create for state and local economies. A program as large, successful and beneficial to individuals and their families and to our country’s economic engine should be receiving much more attention.
Social Security will experience a funding shortfall in 2035 when the Trust Funds are scheduled to run out, triggering an automatic 20% benefit cut for all recipients. There are many proposals and ideas to address the shortfall to ensure that full benefits continue to be paid now and well into the future. However, there are also proposals which would create added economic strain for seniors. Voters need to know whether you, as President, will put forward a proposal to extend the programs’ solvency and, if so, will you choose to do this using benefit cuts or revenue increases?
My organization represents millions of Americans. On their behalf, I am asking you to provide ample time in the year ahead to offer your specific ideas to address Social Security’s solvency and benefit changes.
With Best Regards,
President and CEO