Cutting Social Security and Medicare won’t reduce national debt
To the Editor:
Politicians in Washington, including the president, are claiming they need to cut Social Security and Medicare to help the economy and to pay down the mounting national debt.
They may be misled, but they are certainly misleading.
Social Security has nothing to do with the national debt. It hasn’t contributed to this debt and isn’t responsible for it because it has its own funding from FICA taxes paid by workers and their employers. Social Security is not going broke either. It currently has a surplus of $2.8 trillion and is financially able to cover all of its obligations for the next 20 years. This is money the politicians want for reasons of their own, but it is honestly and truly our money we have earned and paid, which they are trying to steal.
The argument that cutting Social Security will help our clearly embattled economy is foolish and blind to existing economic reality. A recent national study has revealed in 2013 Social Security will provide $775 billion to 57 million retirees, workers with disabilities and their families nationwide. These people, and I am one among them, receive this money, then turn around and support their state and local economies by buying food, housing, fuel, medicine, clothing and services of all kinds. These payments make possible a vast amount of support for local and state economies, and I am proud to spend the monthly payments I receive to support local and nearby businesses and organizations.
In New Hampshire alone, there are 271,181 Social Security beneficiaries, including 178,397 retired workers, 47,094 disabled workers, 15,681 widow(er)s, 7,859 spouses and 22,150 children.
Social Security benefits provide $4 billion each year to our New Hampshire economy. What will happen if this amount is diminished or taken away?
Who are they trying to kid – and why? What they really need is to hear from more of us.