Social Security benefits must be protected in any reform package

By Eric Minamyer

I want to know the details of any reform of social security before I will commit to support. Privitization if used at all must be done gradually to ensure no loss of benefits to those who paid in for a lifetime. Inflation must be avoided.

We must keep faith with those who have paid into the social security system for their lifetime and those who are currently collecting benefits.

I will vote for no bill that reduces benefits for current recipients.

The social security system has been in effect since before World War II. It has always been a "pay as you go" fund. There are no reserves per individual. Without a continued stream of revenue, the fund cannot sustain its obligations.

I will protect the rights of Americans who have earned their social security benefits by paying into the system.

I am also deeply concerned about how the reform will deal with those whose personally directed investments fail. Will they go on "welfare?"

Social security was intended to prevent "elderly indigents" and was not intended to be an investment bank. The problem is being caused by longevity and the "baby boomers" of which I am one.

If we use any "private accounts" they will need to be phased in over a very long time to make certain that no one loses the benefits to which they are entitled.

An increased demand for stocks and bonds could be inflationary without adding to true economic growth. Just like the .com stock collapse, many could lose the value of there retirement investment accounts.

There are no simple solutions but I will focus on this issue. My primary effort will be protection of the benefits of those currently or soon to be receiving benefits: the benefits they paid for.

Safeguarding our children's financial futures includes a balance of social security reform, sound economic growth strategies, defeating inflation and lowering taxes.