Ford Bell on Social Security

Privatization hasn't worked

The genius of Social Security is that it's a government-guaranteed broad-based social insurance program for everyone. That's why it's been so successful for 70 years now, and we need to keep it that way. The projections of problems by 2042 are worst-case scenarios. There are many ways we can fix it. Increase the payroll tax, or eliminate the ceiling on payroll tax above $90,000, or a whole panoply of things we can do. Privatization hasn't worked. Source: MN 2006 Senate debates - MPR interview Jan 26, 2006

Solve the projected shortfall with safe & gradual changes

Politicians talk about Social Security being the "Third Rail" of politics and tread lightly when talking about any changes to the program. There's a good reason for that-senior citizens and disabled rely on a strong Social Security system to meet financial obligations. Yet our emboldened president insists he's going to "spend his political capital" to try to cut future benefits for the middle class, raise the minimum retirement age & partially privatize the system. All this in quick succession with the certainty of creating more debt today-trillions of dollars, in fact. Amazing.

Social Security's projected shortfall can be solved with careful management and safe, gradual changes. There's no need for radical surgery here. By raising the ceiling on income subject to Social Security contributions we can continue to ensure the long-term solvency of this vital program.

Source: Campaign website, www.FordBell.com, "Issues" Dec 25, 2005

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