Tuesday, January 18, 2005

AARP Takes On Bush

Earlier this month, the AARP (American Association of Retired Persons) launched a $5 million print ad campaign to express its position that Personal Retirement Accounts will hurt millions of Americans who rely on Social Security as their only source of retirement income. PRAs are a key component to President Bush's economic plan.

"Winners and losers are stock market terms. Do you really want them to become retirement terms?" asks one ad. Another dipicts a couple in their 40's saying, "There are places in retirement planning for risk. Social Security is not one of them." The campaign urges Americans to contact members of Congress to show opposition to Personal Retirement Accounts.

In an open letter to AARP members the organization says "Social Security is strong now and in no danger of going broke". But on its website the AARP admits that if nothing is changed, benefits will need to be dramatically reduced for retirees by the 2040's. Nowhere does the AARP mention that the proposed PRAs would be voluntary or that only younger workers would be eligible.

The AARP, whose mission is to serve older Americans, needs to be honest with retirees rather than frightening them into becoming servants of its political agenda. The AARP should be educating its membership about the Social Security system and providing accurate information about the problems and proposed solutions.

7 comments:

Ryan said...

The Bush Administration, whose mission is to serve all Americans, needs to be honest with citizens rather than frightening them into becoming servants of its political agenda. The Bush Administration should be educating its constituents about the Social Security system and providing accurate information about the problems and proposed solutions.

Don't you think it more important that the President be held to as high a standard as what you expect from AARP? You seem like a reasonable conservative but can you honestly tell me you believe the economist Bush over real economists that there is a crisis facing social security, especially when Bush is pushing privatization of government. Karl Rove would privatize his mother if he saw enough green.

There is no social security crisis, there is an economic crisis facing the country. Bush doesn't want to ever talk about the economy but his means to confront the "social security crisis" may end up helping the reality economic crisis on Wall St. Should we expect Bush to be honest? Probably not.

thc said...

There IS a Social Security problem in Amerca and Bush has been quite honest about it. As for an economic problem, we have come through a recession brought on by the economic policies of a former administration and things are improving dramatically. What liberals want is higher taxes. What capitalists would like is not more taxes but more TAXPAYERS. Get off of entitlements and get back to work!

tomw said...

THC- nothing in your post points out inaccuracies put forward by the AARP. The position that SS is not endangered until the 2040's is accurate. Taking money out of the system, as PRAs would do, would speed up that timetable. I'm not necessarily opposed to the plan. I believe I would benefit. Good overall? I don't know. It does trouble me that your industry is the largest contributer to the inauguaration. That smells a little funny.

thc said...

tomw: You make a great argument for making changes to SS now rather than waiting 20 or 30 years. Actuaries predict the system will start paying out more than it collects in 2018. What's wrong with improving a system today that hasn't changed since 1940? Why is the AARP trying to make seniors believe their benefits will be gambled away? Since no details of the Bush plan have even been announced, how can it be judged by the AARP or anyone. And yes, my industry donated millions for today's inauguration, we've also donated millions to tsunami victims.

tomw said...

Tsunami victims don't make policy decisions that effect millions of lives or make millions (make that billions) for the financial industry.

tomw said...

And another thing...now that Bush has started his second term, can you quit blaming everything bad on Clinton?

Anonymous said...

Gee guys,

I'd love to know of this economic crisis of which you speak. What country do you live in? Tell me more.

In my country, our economy is on a solid rebound. After eight years (or more) of solid economic expansion, our economy took a break like it does in every economic cycle.

Now, interest rates on on the rise to keep the economy from overheating and the stock market is going great! My investments all did between 10%-14% last year (2004). Economic expansion is once again taking place. You guys should move to my country, things are really looking up!

Kevin

p.s. Oh yea, I live in the U.S.