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2008 Social Security Report Offers Dire Warning
Date:3/27/2008

RetireSafe Calls for Action NOW to Prevent Social Security Benefit Cuts

RESTON, Va., March 27 /PRNewswire-USNewswire/ -- In wake of the annual report issued this week by the Social Security and Medicare Trustees, RetireSafe predicts a shaky financial future for retiring Americans unless someone in our nation's capital takes action before it is too late.

"The only shocking thing about the Social Security Trustees report is the glaring lack of congressional action to shore up America's retirement program before it collapses," said Michelle Plasari, President, RetireSafe.

"Everyone knows Social Security and Medicare were never designed to withstand the weight of retiring baby boomers in the midst of a shrinking worker pool. Experts have warned year after year that Social Security cannot sustain itself in the face of this looming situation. Now in just 9 short years Social Security will pay out more than it receives in revenue. It's like a levee waiting to break and everyone is ignoring the warnings. This week, the Trustees sent a dire warning to older Americans - be prepared for benefit cuts of up to 20%. What's Congress waiting for to take action?"

RetireSafe calls for a champion to take the lead in preventing the collapse of Social Security and Medicare. "In a time where our seniors are struggling to make ends meet, Presidential candidates or members of Congress should step up and do the right thing - guarantee the benefits of today's seniors and explore the options for giving younger workers more choices and control over their retirement future. RetireSafe and its 400,000 supporters nationwide are looking for leaders that will heed the warnings and act NOW," said Plasari.

To learn more about RetireSafe's Keys to Social Security reform visit http://www.retiresafe.org.

RetireSafe is a grassroots advocacy organization made up of almost 400,000 senior citizens promoting dynamic solutions to America's retirement security challenges. RetireSafe is dedicated to preserving and enhancing the options, benefits and lives of older Americans. To learn more visit http://www.retiresafe.org.


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SOURCE RetireSafe
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