Home > Uncategorized > Mike Hall – Deliberate Distortions Create False Sense of Urgency for Social Security Cuts

Mike Hall – Deliberate Distortions Create False Sense of Urgency for Social Security Cuts

From the AFL-CIO Blog:

Deliberate Distortions Create False Sense of Urgency for Social Security Cuts

by Mike Hall, Nov 9, 2010

There is so much inaccurate information—much of it deliberately cultivated—about the solvency of Social Security, that it’s leading policymakers, analysts and lawmakers to believe there is an urgent need to make major changes to Social Security.

Add to that a cadre of newly elected representatives and senators who back raising the retirement age, privatizing Social Security or making other cuts to the nation’s most successful social safety net program, and it becomes even more important to make sure the real picture of Social Security’s future is not distorted.

A new issue brief from the Center for Economic and Policy Research (CEPR) calls attention to the fact that Social Security will be fully solvent for the next 27 years and any premature action to make changes to the program will have a severe impact on millions of near retirees. Says CEPR Co-Director Dean Baker:

Misinformation about Social Security has led many to believe that Social Security is in immediate danger of insolvency but the program will be fully solvent for almost three more decades. Furthermore, even if no changes are ever made, a child born in 2010 can expect to see a benefit that is more than 50 percent larger in real terms than what current retirees receive today.

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