AARP on Social Security: A Game-Changer for Entitlement Programs?

prior to the Nazi extermination of Jews Hitler began conditioning his people with first vague references to Jews as parasites. He gradually accelerated his program of disinformation until he was blaming Jews for just about every problem Germany had. Now this country is doing that to Seniors. They begin calling our trust funds of medicare and Social Security, a completely off budget items "entitlements" as if it were some kind of welfare program. This is not entitlement, it's our own money that we paid into for 40 years believing it would be paid back when we needed it. Politicians just can't get it off their minds. They booted us out of the workforce at age 50, far to young to retire, and wouldn't let us back in. They borrowed our social security never intending to pay it back. They borrowed against the next three generations, children and grandchildren, and won't be alive to pay that back. the problem is a greedy undisciplined generation that will spend and exploit any source of money they can get their hands on. supplemental security income is stolen from social security funds, that's welfare because recipients, mostly illegal aliens, winos, addicts, and X convicts paid nothing into the fund. they have no right to receive benefits, we working people paid into for our own retirement. Kick the freeloaders off and medicare and social security will be funded for all the foreseeable future. Also send the tax avoiding illegal aliens home and give their jobs to tax paying Americans.

xzimppledink of CA 11:02PM June 21, 2011

repeal the windfall eliination provision...

US News 77 of MA 7:11PM June 21, 2011

With all the live testimony presented to the President’s Fiscal Commission during its 9+ month life in 2010, I don’t recall one representative from AARP testifying. With all the tens of millions of dollars they collect from members, this is unconscionable! Now that the Fiscal Commission has set an agenda with Medicare/Social Security cuts are under serious consideration, AAPR is scrambling trying to raise fund from its members to fend-off the very real treat of cuts. By definition, whatever cut materialize, they will be much more than if AAPR made the Fiscal Commission’s agenda a 2010 election issue and gave the Tea Party a fight. As the saying goes, “A stich in time saves nine”. For AARP to agree to cuts with increasing tax revenue remaining off the table is unconscionable.

The Tea Party thanks you, AARP!!!

Hugh Campbell of NJ 1:38PM June 21, 2011

NOTHING HAS CHANGED. So why is the AARP changing its position?

Here are the facts:

1. The Social Security Amendments of 1983 were designed to "fix" Social Security's long-term solvency problem.

2. The 1983 payroll tax hike has generated $2.6 trillion in surplus Social Security revenue.

3. If the surplus revenue had been saved and invested, as was the intent of the law, the trust fund would today hold $2.6 trillion in real marketable assets that could be sold in the open market to raise enough money to pay full benefits until 2036.

4. The government did not save or invest any of the surplus revenue, Instead, it was all diverted to the general fund and used to finance tax cuts, wars, and other government programs.

These facts have been true for many years, and the AARP has always acknowledged the first three. But the AARP has adamently denied fact number 4. It has repeatedly argued that the money was saved and invested in government bonds "just like the bonds held by the Chinese government." Is the AARP now acknowledging that the money is gone, and it is, therefore, necessary to cut benefits?

Allen W. Smith, Ph.D.

Professor of Economics, Emeritus

Eastern Illinois University

Allen W. Smith, Ph.D. of FL 12:17PM June 21, 2011