Social Security hustlers use the life expectancy argument to justify gutting America's best-loved program.
by LYNN STUART PARRAMORE, AlterNet
Trying to convince the public to cut America’s best-loved and most successful program requires a lot of creativity and persistence. Social Security is fiscally fit, prudently managed and does not add to the deficit because by law it must be completely detached from the federal operating budget. Obviously, it is needed more than ever in a time of increasing job insecurity and disappearing pensions. It helps our economy thrive and boosts the productivity of working Americans. And yet the sharks are in a frenzy to shred it in the upcoming “fiscal cliff” discussions.
The most popular red herring Social Security hustlers have unleashed into the waters of public discourse has grown into such a massive whale of a lie that liberals frequently subscribe to it. The idea goes like this: We need to somehow “fix” Social Security because people are living longer – “fix” in this context being code for “cut.” Two groups stand to benefit in the short-term from such a scheme: the greedy rich, who do not want to pay their share in taxes, and financiers, who want to move towards privatizing retirement accounts so they can collect fees. As for the masses of hard-working people who have rightfully earned their retirement, the only “fix” is the fix they will be in if already modest benefits are further reduced.
Here are five clear reasons why the life expectancy argument is nonsensical, counterproductive and based on a pack of lies.
1. Social Security’s original designers considered rising life expectancy.
On our red-herring tour, let’s start with the oft-repeated claim that the original designers of the program did not consider rising life expectancy in their calculations. Fortunately, public records pertaining to the lengthy and detailed discussions of the Roosevelt administration’s Committee on Economic Security (CES), tasked with constructing proposals for Social Security, are available for anyone to see. It is absolutely clear from the record that the designers knew that the number of people over the age of 65 was going to increase and that people were going to live longer. [MORE]