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Entries in Social Security (40)

Thursday
Mar012012

NHDP - House Republicans Ask Congress To Privatize Social Security

Concord, NH - Once again, Bill O'Brien's radical Tea Party friends in Concord seem to believe that they have the answer to everything. Now they have decided they know how to fix social security. All that needs to been done is to privatize it. All of it. No exceptions.

 

Last Tuesday the State-Federal Relations and Veterans Affairs Committee voted 8-6 to pass HCR 39, a resolution which urges congress to privatize social security. The Resolution is expected to be voted on by the full House next week.

 

"Not content with asking Congress to withdraw from the United Nations, the House Republican Caucus would now like to see Congress 'privatize all aspects of social security,'" said New Hampshire Democratic Party Chair ray Buckley.

 

Neither Mitt Romney, Newt Gingrich, nor Rick Santorum's plans involve privatization of ALL aspects of Social Security. Even Ron Paul, when he talks about privatization is sure to provide a number of caveats. Bill O'Brien and his House Republican Caucus are so out of touch with mainstream Granite State values that they have managed to put themselves to the right of the entire Republican Presidential field.

 

"One only needs to look back at the final years of the Bush Administration to know that private investing has no guaranteed return. Markets rise and fall for a myriad of reasons," said Buckley. "Yet now, the dangerous Republican House wants to take the security out of social security by putting everyone, young or old, in charge of managing their own retirement accounts, with nary a safety net in sight."

 

Social Security reform is a nuanced and complicated issue that is sure to be well debated between now and November. Yet the House Republicans continue to prove their recklessness by believing that they can fix everything with just seven sentences.

Wednesday
Feb222012

AFP - Saving Social Security: Personal Accounts Offer Workers Better Choice

Last week the President released his latest budget, proposing policies that would result in a $1.33 trillion deficit this year and continued budget deficits for as far into the future as government bureaucrats project.  As budget experts like the non-partisan Congressional Budget Office have explained, the main cause of the looming fiscal problems going forward is unsustainable spending in entitlement programs like Social Security.  Yet the President’s FY 2013 budget does not propose major reforms to this broken program. 

Social Security has nearly $18 trillion in unfunded liabilities, and with continued waves of Baby Boom retirees and sluggish growth in the number of workers to support them, the problem is only likely to get worse.  Opponents to reform often argue that the program can be fixed with minor tweaks around the edges, but those changes tend to make what is already a bad deal even worse for workers. 

Unless the program sees major structural reforms, massive benefit cuts, tax increases, or more government borrowing will be needed.  This would be a huge disappointment to retirees, a drag on the American economy, or an even bigger debt burden onto the shoulders of our children and grandchildren. 

Thankfully, there is a better way.

Today, Americans for Prosperity Foundation is launching an effort to educate the American people about the benefits of optional personal savings accounts for Social Security.  It’s a policy that relies on freedom and choice instead of forcing Americans to stomach benefit cuts and tax increases.

And it’s a policy with several success stories where it has been tried.  For example, more than 94 percent of Chilean workers have opted in to their country’s personal account system, taking advantage of the retirement benefits that are 50 to 100 percent more generous than what their old system offered. 

Click here to read AFPF’s new paper and check out all the materials on our new homepage for Social Security reform. 

Saturday
Feb182012

ALG blasts House passage of payroll tax holiday, unemployment extensions

Feb. 17, 2012, Fairfax, VA—Americans for Limited Government President Bill Wilson today issued the following statement condemning House adoption of a deal to extend the payroll tax holiday, unemployment benefits, and the "doc fix" for another year without paying for it:

"This legislation the House has passed will add $165 billion to the debt over the next three years. This is simply inexcusable. They are promising partial pay-for's down the road, such that the ten year cost will supposedly be brought down to $89 billion. That's still too much. Republicans took a majority in the House promising to reduce the debt. This bill speeds up the bankruptcy of Social Security, adds significantly to the debt, and betrays the voters who demanded fiscal responsibility in 2010.

"The economy is beleaguered by excessive debt, both public and private, and we will not work our way out of this malaise with yet more debt. This legislation is counterproductive and denies the growing body of evidence that too much debt has become severely detrimental to economic growth. The spenders in Washington, D.C. are completely clueless to what ails our economy. We need new leadership."

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Americans for Limited Government is a non-partisan, nationwide network committed to advancing free market reforms, private property rights and core American liberties. For more information on ALG please call us at 703-383-0880 or visit our website at www.GetLiberty.org.

Saturday
Feb182012

US Rep Bass Statement on Passage of Payroll Tax Cut Extension

WASHINGTON – Congressman Charles F. Bass (NH-02) issued the following statement this morning after the House of Representatives passed bipartisan compromise legislation to extend the payroll tax cut through the end of 2012.  The legislation also extends and reforms unemployment benefits and prevents a 27.4 percent cut in Medicare physician reimbursement rates by freezing rates at their current level through the end of this year.

Bass said:

“This legislation prevents a tax increase on hardworking taxpayers and ensures seniors will still be able to see their doctors by preventing a massive cut in physician reimbursement rates.  It also extends unemployment benefits for the millions of Americans who are struggling to find work in this tough economy.  We can now continue our focus on making it easier for the private sector to grow and create jobs and get our economy moving again in the right direction.

“I’m also pleased that the legislation includes provisions that I strongly support to expand broadband technology, create jobs and grow the economy, and create a nationwide network for public safety by auctioning spectrum.  This will help us meet the growing demand for mobile data and encourage innovation in technology and broadband services.

“I hope the Senate will consider and pass this legislation without delay so we can give families and businesses the certainty they need and prevent a tax increase from taking effect at the end of this month.”

http://bass.house.gov

Wednesday
Dec212011

US Rep Bass Statement on Today's House Vote on Payroll Tax Cut Bill

WASHINGTON – Congressman Charles F. Bass (NH-02) issued the following statement this afternoon after the House of Representatives voted to go to a conference committee with the Senate on the Middle Class Tax Relief and Job Creation Act. 

The Senate’s legislation would have extended the payroll tax cut, the current Medicare physician reimbursement rate, and unemployment benefits for two months instead of one year as the original House-passed version did. 

Bass said:

“Failure by the Senate to pass a year-long extension of the payroll tax cut and negotiate with the House on a long-term solution is another example of the partisanship and gridlock in Washington that New Hampshire citizens have grown to detest.  The American people expect and deserve the certainty that a year-long extension of these important programs would bring. 

“While I prefer a longer-term solution, had it come up as a vote today, I would have voted for the Senate’s two-month extension to ensure New Hampshire families won’t see their taxes increase on January 1st.  It’s unfortunate that Senate Majority Leader Harry Reid is playing political games and refuses to bring the Senate back into session to work on this issue.  But a two-month extension is better than none at all and would give the House and Senate some more time to work out differences in January and February. 

“I recognize this debate is not over.  The last thing we need is a tax increase on middle class workers in a tough economic environment on January 1st or any point next year as it will only stall our recovery and make it harder for the private sector to grow and create jobs.  I hope the House and Senate can come to an agreement, even if it means coming back into session, so Americans won’t see their taxes go up or their unemployment benefits run out in less than two weeks.”

http://bass.house.gov