By Eileen Buckley
Amherst, NY – US Senator Charles Schumer says Social Security doesn't need "dramatic" changes, just some tweaking. Schumer is traveling across the state to fight President Bush's proposal to privatize Social Security. Tuesday, he appeared in Amherst.
"Social Security: mend it -- don't end it," Schumer said. "Privatization ends it."
Senator Schumer says privatizing Social Security would jeopardize those currently receiving it. He says there will be less benefits for younger generations if they are forced to put that money into investment accounts.
Supporters of the Bush plan say Social Security is headed for a crisis as baby boomers get ready to begin collecting their share. Schumer admits the biggest problem is people are living longer. But he says there's enough money to keep it going through 2042. He's calling on Bush to reform it like the Reagan Administration did in 1983 when the program was almost out of money.
"President Reagan put together a bi-partisan delegation. It was headed by Republican Alan Greespan and a Democratic senator, the late Patrick Moynihan," Schumer explained. "They came up with a variety of minor changes and saved Social Security for 60 years."
Schumer is calling for a bi-partisan commission to come up with Social Security reforms. He appeared at the Amherst Town Hall Tuesday with some area senior citizens to tell them how he is fighting against Bush's plan.
Janice Dunn of Eggerstville currently receives Social Security. She says Schumer is on the right track. Dunn says without Social Security, she would have a tough time surviving financially.
"I would have to go through everything I ever saved or made in investments, and live on that," Dunn said. "If I live too long, then I would end up on Medicaid."
Citizens wishing to calculate how earnings would change under a privatized plan can log onto to Schumer's web site.