Letter: Where is Social Security issue in the campaigns?

Published: 10/25/2020 12:01:23 AM

I’m frustrated with all the rhetoric coming out of the state and national campaigns this year. It is not the interaction and mudslinging I detest, but the lack of focus on an issue that will eventually impact all of us.

The state of Social Security has been mostly absent from all the campaigns, town halls, forums, and debates. As AARP research reveals, what is at stake is ensuring that current and future generations receive the retirement benefits they have earned and rely upon.

About 45 million retired workers and 3.1 million dependents get Social Security benefits; currently, one out of every three of these households rely on Social Security for 90% or more of their income. Social Security also covers 6 million survivors of deceased workers and their dependents.

According to the most recent estimates, the trust funds that help pay for the program will be exhausted by 2035. Without any changes to the system, the program at that point would still be able to pay 79% of its current benefits. But that report was based on data before the pandemic. A May report from the Wharton School at the University of Pennsylvania suggests the trust fund could be exhausted sooner because millions of workers have lost their jobs.

If something is not done soon then it could be severely detrimental to many families in New Hampshire and across the country.

MARC BOYD

Bow

(The writer is the volunteer president of AARP-NH.)




Concord Monitor Office

1 Monitor Drive
Concord,NH 03301
603-224-5301

 

© 2020 Concord Monitor
Terms & Conditions - Privacy Policy