Social Security

We, the recipients of Social Security, should be very concerned with this year's elections. Tony Snow, President Bush's press secretary, said last month that with a Republican Congress in 2007, Bush will push for his privatization plan. If Bush's plan is implemented, it will be devastating to Social Security recipients. Let me explain. Workers pay 6.2 percent of their pay into Social Security. That 6.2 percent is matched by their employers for a total of 12.4 percent. Currently, 10 percent pays for all Social Security recipients' monthly checks, with a surplus of 2.4 percent. Bush takes the surplus to pay for the war in Iraq and has the government issue U.S. Treasury bonds to replace the surplus taken. However, his privatization plan would take 4 percent of the 12.4 figure out of the system and put it into private accounts, leaving 8.4 percent for the recipients of Social Security. That does not cover current expenses for the system, let alone future increases. The system would immediately be in a deficit, and with each passing year, the deficit would grow. Neither Bush nor his Republican cohorts have said where they would get the money to make up the deficit. The only alternative would then be to make huge cuts in Social Security checks. We must stop this raid on Social Security before it's too late. U.S. Rep. James Saxton, R-Mount Holly, and U.S. Senate candidate Thomas Kean Jr., R-Westfield, support Bush's plan to take 4 percent from Social Security and destroy the financial stability of the system. Elect their Democratic opponents and save Social Security. We worked hard to ensure that Social Security would be there when we needed it. Don't let greedy politicians use the money for other purposes. Keep Social Security for that which it was intended. Michael W. Reilly, Medford - Courier Post, October 27, 2006