Letters to the Editor 02-28-2005
July 28, 2016 at 4:25 p.m.
By -
- Social Security - Accident Witness
Social Security
Editor, Times-Union:Much has been voiced in recent months over the financial future of Social Security. Poltitcal arguments range from, an immediate crisis to, it's not broken so why fix it? In the interest of understanding the issue more fully, I examined the summary of the 2004 annual reports on the Social Security and Medicare Programs issued by the Social Security and Medicare boards of trustees (http://www.ssa.gov/OACT/TRSUM/trsummary.html). The report states "The program continues to fail our long-range test of close actuarial balance by a wide margin. Projected OASDI (Old-Age and Survivors Insurance (OASI) and Disability Insurance (DI)) tax income will begin to fall short of outlays in 2018 and will be sufficient to finance only 73 percent of scheduled annual benefits by 2042, when the combined OASDI trust fund is projected to be exhausted. Social Security could be brought into actuarial balance over the next 75 years in various ways, including an immediate increase in payroll taxes of 15 percent or an immediate reduction in benefits of 13 percent (or some combination of the two)." The report concludes "Though highly challenging, the financial difficulties facing Social Security and Medicare are not insurmountable. But we must take action to address them in a timely manner. The sooner they are addressed the more varied and less disruptive can be their solutions." It's quite clear from the report that Social Security is indeed in trouble and immediate action must be taken to address its financial health.
Kirt Case
Warsaw
Accident Witness
Editor, Times-Union:I would like to ask your readers that anyone who happened to witness an auto accident on Friday, Jan. 21 at around 5:15 p.m. on County Farm Rd. and 400 S., please contact me as soon as possible. Your input would be appreciated.
Thank you,
Scott Wickens
Warsaw
574-269-5357
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- Social Security - Accident Witness
Social Security
Editor, Times-Union:Much has been voiced in recent months over the financial future of Social Security. Poltitcal arguments range from, an immediate crisis to, it's not broken so why fix it? In the interest of understanding the issue more fully, I examined the summary of the 2004 annual reports on the Social Security and Medicare Programs issued by the Social Security and Medicare boards of trustees (http://www.ssa.gov/OACT/TRSUM/trsummary.html). The report states "The program continues to fail our long-range test of close actuarial balance by a wide margin. Projected OASDI (Old-Age and Survivors Insurance (OASI) and Disability Insurance (DI)) tax income will begin to fall short of outlays in 2018 and will be sufficient to finance only 73 percent of scheduled annual benefits by 2042, when the combined OASDI trust fund is projected to be exhausted. Social Security could be brought into actuarial balance over the next 75 years in various ways, including an immediate increase in payroll taxes of 15 percent or an immediate reduction in benefits of 13 percent (or some combination of the two)." The report concludes "Though highly challenging, the financial difficulties facing Social Security and Medicare are not insurmountable. But we must take action to address them in a timely manner. The sooner they are addressed the more varied and less disruptive can be their solutions." It's quite clear from the report that Social Security is indeed in trouble and immediate action must be taken to address its financial health.
Kirt Case
Warsaw
Accident Witness
Editor, Times-Union:I would like to ask your readers that anyone who happened to witness an auto accident on Friday, Jan. 21 at around 5:15 p.m. on County Farm Rd. and 400 S., please contact me as soon as possible. Your input would be appreciated.
Thank you,
Scott Wickens
Warsaw
574-269-5357
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