Dear Senator Hutchison,
I know you are aware of the looming problems with our Social Security system. In fact, this is from your own website:
Americans have paid their taxes into the Social Security system in good faith, and they deserve a return on their investment. However, by the year 2018, as the “Baby Boom” generation enters retirement, the program is projected to pay out more in annual retirement than it takes in from Social Security taxes. This would leave future generations with no benefits from a fund into which they poured their hard-earned wages. There are a wide variety of proposed reforms before Congress, including the creation of personal retirement accounts that give citizens control over their own savings.
I notice you don’t mention your own position on Social Security reform. What is your position? Do you favor the status quo, which is projected to run deficits beginning just seven years from now? Or do you favor reforming the system to make it solvent? As you noted, proposed reforms include the creation of personal retirement accounts. Proposed reforms also include raising Social Security taxes, cutting Social Security benefits, or some combination of the two. If you support Social Security reform, please state what reform(s) you support and explain the effect on the sustainability of our Social Security system.
America thanks you in advance for your candid response clearly outlining your position on Social Security. I will post your response on my blog.
Regards,
luridtransom