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Nancy Pelosi out of step with young Americans
July 22nd 02:01:24 PM
Students for Saving Social Security members: Young Americans can speak for themselves
Washington D.C. -Students for Saving Social Security, a non-partisan student group with 180 chapters in more than 40 states nationwide, listened in disbelief as Representative Nancy Pelosi declared that young people had the most to lose from ownership of their retirement and that she would protect them from ownership plans.
"Young people prefer to speak for themselves, not have Nancy Pelosi speak for us," said Ursula Williams, Deputy Director of SecureOurFuture.org. "SSSS is out in the field working hard to promote the view shared by 2/3 of young people; that personal accounts are good."
Even the report cited by Ms. Pelosi states, "The most conservative portfolio available, consisting only of government bonds returning about 3 percent annually, would likely exceed the offset rate and result in higher total benefits." (Emphasis in original)
"She forgets that for our generation Social Security reform is simpler than a set of three numbers," added SecureOurFuture.org co-founder Patrick Wetherille, a senior at Haverford College. "The message is simple. Congress is spending our future: stop the raid of the trust fund."
Since 1983, Congress has spent $1.67 trillion of the Social Security Trust Fund for non-retirement spending.
"It is frightening that for more than twenty years Congress has been spending our retirement," continued Wetherille. "And now some leaders are saying they’re going to protect us from themselves. It would be funny if it wasn’t actually happening."
Posted by Jonathan Swanson
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