FreedomWorks Wisconsin Letter to Editor Campaign Scores Another Hit

Letter in the Kenosha News

Dear Editor:

Here’s the whole truth about Social Security, Ms. Swanson. It’s going broke. Maybe not tomorrow or the next day, but it is going broke.

As a pay-as-you-go scheme, current workers pay for current beneficiaries of Social Security. The whole truth is that when the latter outstrips the former, the program runs massive deficits that will total $12 trillion.

Your sentiments about Paul Ryan’s loyalties aside, I challenge you to find a single Wall Street broker who is excited about Personal Retirement Accounts. You won’t. Most observers know that the accounts proposed by President Bush and those by Rep. Ryan will not be of significant size or complexity to generate inordinate profits for Wall Street. The whole truth is that accounts like those of Warren Buffet who makes $750 million in a day are the type of accounts Wall Street prefers.

Most importantly, though, is that no current or near retiree will be affected by reform. It’s disingenuous to suggest so. President Bush and Paul Ryan have gone to great pains to mitigate the concerns of those who are most dependent on Social Security. And both men have gone to greater pains to bring Democrats into the debate. It is imperative to recognize that reform won’t happen without bi-partisan support – support from bold Democrats like the late Senator Daniel Moynihan and former-Congressman Tim Penney.

The whole truth is that younger workers deserve the promise of a secure future, in the same way that their parents and grandparents did.

Matt Augustine
Member
FreedomWorks