New Jersey Strengthen Social Security Campaign
New Jersey Citizen Action has formed the New Jersey Strengthen Social Security Campaign to oppose any efforts to cut Social Security benefits, including raising the retirement age, or to privatize any part of the program.
Right now, a Fiscal Commission appointed by President Obama and Congress is debating the future of Social Security. It is charged with issuing a report by December 1 about how to cut the federal deficit and restructure entitlement programs, such as Social Security. News reports indicate that Social Security is the program that it could be easiest for the commission to reach agreement on cutting. Social Security is hugely popular, and one of the most successful social programs of all time. It has been around for 75 years. It lifts 20 million Americans out of poverty. At the same time it provides critical insurance against the disability or death of a family member.
Social Security did not cause the federal deficit. It has not added a penny to the deficit. Social Security has a $2.6 trillion surplus today. Its benefits should not be cut to reduce the deficit — or for any other reason. We need to make sure Congress continues to support Social Security, and not make cuts that will harm current and future generations.
Take Action! 1) Call your Congressperson and Senators (find their contact information here) AND 2) email them (click here).
You can learn more in this Fact Sheet.
Senator Robert Menendez Joins NJ Citizen Action to Celebrate the 75th Anniversary of Social Security
On Thursday, August 12, 2010 NJCA Joined with Senator Robert Menendez to release a report that shows how Social Security Works for New Jerseys. The event was one of over 100 events taking place across the country during the month of August to celebrate the 75th Anniversary of Social Security.
There has been growing debate by some in Washington proposing to cut benefits and privatize the program as a way to reduce the federal deficit. NJCA emphasized opposition to any such cuts or reduction of benefits.
- Complete Report.
- Press Release.
- News Coverage: "Sen. Robert Menendez And Hoboken Seniors Salute Social Security On Its 75th Anniversary" (The Jersey Journal – August 13, 2010), "Sen. Menendez And Citizen Action Celebrate 75 Years Of Social Security With New Jersey Seniors" (NJ.com – August 13, 2010), "Social Security Turns 75" (My9News – August 13, 2010 VIDEO NEWS SEGMENT), "Social Security: 'An American Success Story'" (MSNBC – August 13, 2010), "Seniors, Sen. Menendez Celebrate 75 Years Of Social Security" (Hoboken Patch – August 12, 2010), "Social Security Benefits 1.4M In New Jersey Annually" (New Jersey Newsroom – August 12, 2010).
Social Security Facts
Social Security provides vital benefits that have prevented more than 40 percent of older Americans from living in poverty.
Social Security provides guaranteed economic security for more than 47 million grandparents, parents and children nationwide.
In New Jersey, there are currently more than 1,363,814 people receiving Social Security benefits.
According to the bi-partisan Congressional Budget Office (CBO), if no changes to Social Security are made, benefits will be able to be paid out in full until the year 2052, at which point benefits could continue at 75–80 percent. In adjusted terms, that benefit is more than what beneficiaries currently receive.
According to the National Women's Law Center, in 2002 nearly $15 billion poured into New Jersey's economy in the form of cashed Social Security checks. According to the same study, the president's privatization plan would cut New Jersey income by $6.7 billion each year – even including White House estimates of income from private accounts. Here is an explanatory chart:
From Dean Baker and David Rosnick, "Basic Facts on Social Security and Proposed Benefit Cuts/Privatization," Center for Economic and Policy Research.
Resources
- Center for Economic and Policy Research
- Institute for America's Future
- National Women's Law Center – State Report on Social Security (PDF Download)
- Center for American Progress