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Social Security Matters coalition rallies
elderly Americans to protect benefits
-- Elder Law of Michigan joins
OWL - The Voice of Midlife and Older Women
in the Social Security Matters campaign that
is working to strengthen and protect Social
Security and the retirement security of
is an opportunity to talk to Congressional
candidates about protecting social security
for retirees and unemployed older adults who
have not been able to rejoin the paid
While the National Commission on Fiscal
Responsibility and Reform barrels toward
cutting Social Security in an attempt to
"fix" the deficit, the Security Matters
coalition is mobilizing to help American
workers get more information.
Social Security has enough money to cover
full benefits for nearly thirty years, and
has not contributed to the nation's budget
Social Security is far from bankrupt, with a $2.6
trillion dollar surplus.
The federal government has borrowed most of
that surplus to pay for the wars in Iraq and Afghanistan,
the Wall Street bank bailouts, and the
Bush-era tax cuts.
The government is now wondering how to pay
back the loan – it's not their money – it
belongs to Social Security.
As the baby boomers retire, Social Security
will eventually have to pay out more than it
takes in. Social Security has been getting
ready for this since 1983, by paying higher
payroll contributions in order to increase
the Trust Fund. Social Security has been
saving up for the boomers, and it has the
funds to pay all promised benefits for many
years to come.
Suggestions that cuts to Social Security
should be used to fix the deficit are a
serious threat to retirees.
With high unemployment among people over 50,
reduced home values and dangerously low
savings, Social Security is more important
than ever to the middle class and their
ability to meet their most basic needs in
"If Congress cuts benefits by raising the
retirement age or by reducing the amount
paid to beneficiaries, it amounts to
stealing our money. It's like the bank
telling you that even though you deposited $100 into
your saving account, they're only going to
give you $80 back,"
Executive Director of Elder Law of Michigan.
"Social Security is the people's savings
account for retirement, not monopoly money
to solve other national problems."