gmsisko1
05-05-2006, 11:13 AM
Economic Freedom Coalition Members, <?xml:namespace prefix = o ns = "urn:schemas-microsoft-com:office:office" />
This week the Social Security Trustees issued their annual report on the Social Security program's financial status. The report's main findings are:
· The projected year that the program will pay out more in benefits than it receives in payroll tax revenues is 2017 - the same estimate as in the 2005 report.
· The projected year that the program's trust funds will be completely exhausted is 2040 - one year earlier than projected in the 2005 report.
· Over the next 75-year period, the trust funds will require additional tax revenue equivalent to $4.6 trillion in today's dollars to pay all promised benefits. This amount is $600 billion higher than estimated in the 2005 report.
(You can read the Social Security Trustees' entire report here.)
Despite the certain fiscal collapse coming for the Social Security system, Senate Minority Leader Harry Reid (D-NV) stated, "Today's report confirms that, despite White House scare tactics, Social Security remains sound for decades to come."
They just don't get it in Congress. Not only is the Social Security structure broken, it will collapse even sooner than we thought last year. Please contact your members of Congress today - your two Senators and your Representative - with the following message:
"Restructure Social Security with optional personal retirement accounts by co-sponsoring HR 1776 or S 857, The Ryan-Sununu Social Security Savings Guarantee and Prosperity Act."
The best ways to contact your members of Congress are by email, fax or telephone. If you do not know the names and contact information for your members of Congress, you can find them at the Economic Freedom Coalition website: www.economicfreedomcoalition.org
Just one more thing - please ask your family members and friends to contact their members of Congress too. The more constituents they hear from, the faster they will change the status quo in Washington, D.C.
Turning up the heat on government works! Thanks for being an Economic Freedom Coalition member.
by: Herman Cain
"When They Feel The Heat, They Will See The Light"
This week the Social Security Trustees issued their annual report on the Social Security program's financial status. The report's main findings are:
· The projected year that the program will pay out more in benefits than it receives in payroll tax revenues is 2017 - the same estimate as in the 2005 report.
· The projected year that the program's trust funds will be completely exhausted is 2040 - one year earlier than projected in the 2005 report.
· Over the next 75-year period, the trust funds will require additional tax revenue equivalent to $4.6 trillion in today's dollars to pay all promised benefits. This amount is $600 billion higher than estimated in the 2005 report.
(You can read the Social Security Trustees' entire report here.)
Despite the certain fiscal collapse coming for the Social Security system, Senate Minority Leader Harry Reid (D-NV) stated, "Today's report confirms that, despite White House scare tactics, Social Security remains sound for decades to come."
They just don't get it in Congress. Not only is the Social Security structure broken, it will collapse even sooner than we thought last year. Please contact your members of Congress today - your two Senators and your Representative - with the following message:
"Restructure Social Security with optional personal retirement accounts by co-sponsoring HR 1776 or S 857, The Ryan-Sununu Social Security Savings Guarantee and Prosperity Act."
The best ways to contact your members of Congress are by email, fax or telephone. If you do not know the names and contact information for your members of Congress, you can find them at the Economic Freedom Coalition website: www.economicfreedomcoalition.org
Just one more thing - please ask your family members and friends to contact their members of Congress too. The more constituents they hear from, the faster they will change the status quo in Washington, D.C.
Turning up the heat on government works! Thanks for being an Economic Freedom Coalition member.
by: Herman Cain
"When They Feel The Heat, They Will See The Light"