SYRACUSE -- Can Social Security be saved? A local coalition thinks so and they want the candidates for the 25th Congressional District to do just that.
The Alliance for Retired Americans held a rally in front of the Federal Building in Syracuse Thursday asking Republican candidate Ann Marie Buerkle and Democrat Congressman Dan Maffei to sign a pledge. The pledge calls upon them to promise to oppose privatization of Social Security or any "raids" on the Social Security Trust Fund. The event coincides with the 75th anniversary of the creation of Social Security.
Unless Congress acts, Social Security's combined retirement and disability trust funds are expected to run out of money in 2037.
The chairman of the Central New York Alliance for Retired Americans, Gerald Lotierzo, says contrary to popular belief, Social Security is not in a "crisis" and will "be around for another 75 years." Nevertheless, he says Congress must act now to ensure the fund is solvent. Lotierzo opposes any effort to preclude people under 55 from paying into Social Security and supports increasing withholding for people earning more than the current cap of $106,000.
This year, more than 53 million people receive benefits totaling $700 billion. For the first time since 1980, the Social Security fund took in less revenue than it paid out.
President Obama has appointed a bipartisan commission to come up with proposals to address future problems with the fund. The commission's recommendations are expected in December.
When reached for comment, Maffei said in a statement: "As we approach the 75th anniversary of Social Security, it is imperative that we reaffirm commitment to this vital program. Our seniors have paid into this program and we owe it to them to keep our end of the bargain. I oppose any measure to privatize or raid the Social Security trust. I oppose any measure that is going to preclude younger Americans from fully participating in the system. I look forward to receiving the pledge and expect that I will sign it."
No word yet from Buerkle on whether she will sign the pledge.
Click here to read a copy of the candidate pledge.
