Social Security's 70th marks time for reflection

Sunday, Aug. 14, marked the 70th anniversary of FDR's signing of legislation that created Social Security. For 70 years, American families have come to rely on the values embodied by Social Security. The program's risk-free benefit has provided security from outliving one's additional savings and assets. The program's family protection system provides retirement, disability and survivor benefits, and Social Security's shared responsibility provides for today's beneficiaries.

All Americans agree that Social Security needs to be strengthened, but the solution shouldn't make the problem worse. Private accounts that drain money out of Social Security do little to assure us of the continued values we have come to expect from the program. In fact, private accounts will make the problem worse, cutting guaranteed benefits, creating huge new debt and passing the bill on to future generations of Americans.

As the debate over Social Security moves forward, AARP is committed to assuring the values provided by Social Security are reflected in any legislation approved by Congress. AARP believes any legislation should, at a minimum, be measured against a checklist that includes risk free benefits that you can't outlive; annual adjustments that keep up with inflation; protection for working families with retirement, disability and survivor benefits; a program in which everyone participates and the solution is fair to everyone; balanced contributions from employers and employees with benefits based on those contributions; and an early retirement benefit that meets the needs of American workers.

This checklist leaves more than enough room for sensible ideas and needed changes that can go a long way towards eliminating Social Security's solvency shortfall. Finding a consensus won't be easy, but it's something lawmakers must do, especially as we celebrate the first 70 years of Social Security's success.

David Mitchell,

AARP Arizona

State Director

Phoenix, Ariz.