Green Party on Social Security
The same plan may be in the works for Social Security. In his speech, the President announced a new retirement savings program, MyRA. Although the details of MyRa are not clear, it is based on creating individual retirement accounts (IRAs) for workers who don't currently have them.
What we do know is that Social Security has been under attack throughout the President's time in office. Rather than doing what is needed, raising the cap, or going beyond that and raising benefits, there have been attempts to cut benefits and raise the age of eligibility. The public is being told that Social Security is in a crisis but is not being told that this 'crisis' is intentional. Unlike Social Security, IRAs are managed by financial institutions that profit from them. MyRa is another gift to Wall Street by President Obama.
Considering that the bottom 20% of American senior citizens get roughly 80% of their income from Social Security, and that without Social Security nearly 70% of black elderly and 60% of Latino elderly households would be in poverty, it is critical that the public protections of Social Security are not privatized and subjected to increased risk based on misleading projections of shortfalls
|Other political parties on Social Security:
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Natural Law Party
George W. Bush(R,2001-2009)
George Bush Sr.(R,1989-1993)
John F. Kennedy(D,1961-1963)
Harry S Truman(D,1945-1953)
American Civil Liberties Union