Keeping track of Social Security is important to students’ futures
By the time students attending this university are ready to retire, the Social Security Administration will either be bankrupt or going bankrupt. It is obvious that Social Security must be reformed.
Most economists agree that by 2018, the Social Security Administration will be dispensing more money that it is taking out and by 2042, the system will be completely bankrupt. In other words, the money that we are putting into Social Security will not be coming back to us when it is retirement time.
President Bush has a plan to fix Social Security so that won’t it won’t be meaningless for our generation. Regardless of how we feel about the Present on other issues, young people need to show support for his Social Security agenda, or we may not receive any benefits.
The most important part of President Bush’s agenda is the concept of personal savings accounts. These savings accounts are real money, not just an empty promise from the federal government. Under this private account system, a working earning $35,000 a year will be able to accumulate a quarter of a million dollars in his or her account by the time of retirement age. Obviously, the system is superior to the prospect of a bankrupt Social Security Administration doling out benefits.
Although the President is working hard to fix Social Security he cannot do it alone. Many liberal in congress are opposed to changing Social Security at all. I encourage all the students of this university to write their congressmen or ge involved in some other capacity to help Bush’s Social Security Agenda.
Chris Hicks
Executive Director
GC&SU College Republicans
Posted by Colonnade Archives
on Mar 25 2005. Filed under Opinion.
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