PRIVATIZATION OF SOCIAL SECURITY

Priv= atization of Social Security

A we= bpage by: Stampdaddy and Shafer

Social Security = is an enormously successful and important program that keeps millions of seniors = out of poverty and provides a sense of security to all Americans. Social Securi= ty provides a guaranteed retirement benefit that is protected from inflation a= nd lasts for as long as you live. However, a recent General Accounting Office report warns that the long-term prospects for the Social Security system may be even worse than we think. It is alrea= dy well-known that by 2014 current tax revenues will be insufficient to pay current benefits, and by 2029 the Social Security Trust Fund will be exhaus= ted.

Life expectancy is increa= sing faster than was ever expected, in 1940, a 65-year-old man could expect to l= ive another 12 years, today it's 15 years, and by 20= 40 it will be 17 years. The elderly portion of the population is expected to rise from 12 percent today to 20 percent by 2050, increasing the population of retirees from 34 million to 80 million.

Other problems with the current sy= stem of Social Security includes:

The fertility rate which is falling faster than expected, from 3.6 children for a typical woman of child-bearing age in 1960 to just two today and a projected 1.9 by 2020.

Social Security is a pay-as-you-go system, with each generation of workers paying the benefits of current retirees. This works f= ine as long as the working population grows faster than the retired population,= but now that the trend has reversed, the system is simply unsustainable. Thus a growing number of analysts favor moving Social Security toward a privatized system by allowing workers to save some of their taxes in a private retirem= ent account.

The Social Security Administration is split into three offices that work under Michael J. Astrue and his= Office of the Associate Commissioner that includes, The Office of Data Analysis, The Office of Program Development, and the Office of Program Research.

The Office of Data Analysis identifies trends= in disability programs and emerging issues and policy implications. It also Compiles and analyzes data on various aspects the disability and SSI progra= ms, including such areas as SSI children, demonstration projects, denied applic= ants and work incentives.

The Office of Program Development develops= and implements disability and SSI-related demonstration projects including proj= ects that would encourage work and self-sufficiency. It Administers grants, interagency agreements, contracts and unsolicited proposals for Office of Disability & Income Support Program= s. It also Conducts outreach for demonstration projects and other initiatives relevant to program development.

The Office of Pr= ogram Research is responsible for the identification and development of potential research projects that will support future policy initiatives, the review of current research and determination of SSI and disability policy implication= s. It also conducts studies and analyses on the national disabled population, applicants for benefits, disability beneficiaries, work incentives and disability assessment tools as well as conducting analyses of the interrelationships between SSA’s disabili= ty programs, the national economy and other income maintenance programs, as we= ll as various socioeconomic factors.

Chap= ter Summery

http://wps.ablongman.com/long_edwards_government_11= /0,7701,719540,00.html

Priv= atization of Social Security

http= ://www.socialsecurity.org/reformandyou/faqs.html

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Over= view and history

http://en.wikipedia.org/wiki/Social_Security_debate= _(United_States)

Inte= rest groups

New Century Alliance for Social Security- Anti-Privatization
http://usgovinfo.about.com/gi/dynamic/offsite.htm?s= ite=3Dhttp://www.ourfuture.org/nca/=

Opt = Out! Pro-Privatization=

http://usgovinfo.about.com/gi/dynamic/offsite.htm?s= ite=3Dhttp://www.teleport.com/%7Eprf/ss/

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Bureaucracy

Social Security Administration (SSA)

http://en.wikipedia.org/wiki/Social_Security_Admini= stration

The Subcommittee on Social Security is a subcommittee o= f the Ways and Means Commitee= is headed by Michael R. McNulty the chairman and Congressman from New York, its members include:<= /p>
Sander M. Levin,= MI
Earl Pomeroy, ND=
Allyson Y. Schwartz<= /a>, PA
Artur<= /span> Davis, AL
Xavier Becerra, = CA
Lloyd Doggett, T= X
Stephanie Tubbs Jones, OH<= /p>
Sam Johnson, TX<= br> Ron Lewis, KY
Kevin Brady, TX<= br> Paul Ryan, WI
Devin = Nunes, CA

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The Type of Politics??

The issues concerning Social Security characterize it as Client Politics. This means that the cost is placed upon a wide distribution of citizens and the benefits provided are for a smaller group. The entire population of citizen= s in the United States pays for Social Security through their taxes and the only beneficiaries are= the senior citizens receiving income.

Webpage by Brenton Stamper and Ryan Shafer
Springhill Independent School District | 3101 Spring Hill Rd. | Longview TX 75605
Phone: 903-323-7738 | Fax: 903-323-7766

Random Fact: On ave= rage 100 people die a year from choking on ball point pens