Guest guest Posted June 14, 2001 Report Share Posted June 14, 2001 From: " Craig (by way of ilena rose) " <jcraig@...> Sent: Thursday, June 14, 2001 11:48 AM Subject: Social Security Public Hearing - Please Post > Below please find a press release from the Social Security > Information Project regarding a public hearing next Monday, > June 18, in Columbia, MO. The hearing called by > Congressman Shaw (R-FL) is intended to gather information > about public opinion on the future of Social Security. IT > IS EXTREMELY IMPORTANT that people with disabilities, > including those of us disabled due to the adverse effects > of silicone exposure, make their concerns public at this > meeting, including the implications of President Bush's > proposal to partially privatize Social Security. If you > cannot attend in person, consider submitting something in > writing per the instructions below. > > ============================ > > ADVISORY FROM THE COMMITTEE ON WAYS AND MEANS > SUBCOMMITTEE ON SOCIAL SECURITY > > FOR IMMEDIATE RELEASE > CONTACT: (202) 225-9263 > > June 11, 2001 > > No. SS-5 > > Shaw Announces Field Hearing to Listen to Americans' Views > on the Future of Social Security > > Congressman E. Clay Shaw, Jr., (R-FL), Chairman, > Subcommittee on Social Security of the Committee on Ways > and Means, today announced that the Subcommittee will hold > a field hearing to listen to Americans' views on the > future of Social Security. The hearing will take place on > Monday, June 18, 2001, at the Reynolds Alumni Center at the > University of Missouri in Columbia, Missouri, beginning at > 1:00 p.m. > > The format of the hearing is intended to evoke the highest > audience participation. Through the use of a facilitator > and independent expert, members of the public attending > will be given the opportunity to ask questions, provide > comments, and share their views on how Social Security > should be reformed. > > BACKGROUND: > > Social Security programs have provided income security to > America's families for almost two-thirds of a century and > has been enormously successful in reducing poverty among > the nation's elderly. However, Social Security is important > to people of all ages, not just retirees. Eighty > percent of workers ages 21-64 and their families have > protection in the event of a long-term disability. Ninety- > eight percent of young children and their mothers and > fathers are insured for Social Security survivor benefits > if a worker in the family dies. > > The benefits Social Security provides to all generations > depend upon the hard-earned payroll taxes paid by workers > of all ages. Social Security operates primarily on a pay- > as-you-go basis. Income from payroll taxes and taxes on > benefits are used to pay the benefits of today's retirees > and other beneficiaries. Since the early 1980's, Social > Security has collected more taxes than immediately needed > to pay benefits. The surplus revenue is credited to the > Social Security Trust Funds in the form of interest-bearing > Treasury securities and will eventually be used to pay > future benefits. > > Social Security faces increasing hurdles in paying promised > benefits in the coming years due to the nation's changing > demographics. By 2030, there will be twice as many older > Americans as there are today - growing from 35 million to > 70 million. In addition, people are living longer and > having fewer children. As a result, the ratio of workers to > beneficiaries has declined from 42 workers per beneficiary > when the program began to 3.4 workers per beneficiary today > and is expected to decline to less than 2 workers per > beneficiary by 2075. > > Social Security's trustees estimate cash revenues will fall > short of expenditures beginning in 2016. At that point, the > Trust Fund balances can be cashed in to make up the > difference. To cash them in, the government will have to > raise taxes, borrow from the public (i.e., increase the > debt), cut other budget priorities, or use any available > budget surplus. Beginning in 2038, the Trust Funds will be > depleted, and Social Security tax revenues will only cover > 73 percent of program costs. > > The President has established a commission that will make > recommendations for restoring fiscal soundness to the > Social Security system, to include the creation of > voluntary individual accounts. Congress has also considered > numerous Social Security reform plans over the years. > However, many Americans may not be aware of the range of > options for strengthening Social Security or of the effect > that individual accounts or other programmatic changes > would have on different groups of people. > > In announcing the hearing, Chairman Shaw stated: " Americans > need to understand the various reform options, along with > their implications, and have an opportunity to express > their views on how best to strengthen Social > Security. I'm pleased the University of Missouri - > Columbia, is hosting this hearing -- we must hear from our > young citizens in this debate as it is their lives which > will be most impacted by changes to the system. Social > Security's future is their future. Moreover, they will bear > the burden should we fail to act. " > > FOCUS OF THE HEARING: > > The hearing will focus on frequently discussed options for > modernizing Social Security (including changes in benefits, > taxes, and personal accounts), and seek participants' views > on how to improve the program's financing in the long term. > > WRITTEN STATEMENTS IN LIEU OF PERSONAL APPEARANCE: > > Any person or organization wishing to submit a written > statement for the printed record of the hearing should > submit six (6) single-spaced copies of their statement, > along with an IBM compatible 3.5-inch diskette in > WordPerfect or MS Word format only, with their name, > address, and hearing date noted on a label, by the close of > business, Monday, July 2, 2001, to Giles, Chief of > Staff, Committee on Ways and Means, U.S. House of > Representatives, 1102 Longworth House Office Building, > Washington, D.C. 20515. If those filing written statements > wish to have their statements distributed to the press and > interested public at the hearing, they may deliver 200 > additional copies for this purpose to the Subcommittee on > Social Security, c/o Office of Congressman Kenny C. > Hulshof, 33 E Broadway, Suite 280, Columbia, MO 65203, by > close of business on Friday, June 15, 2001. > > FORMATTING REQUIREMENTS: > > Each statement presented for printing to the Committee by a > witness, any written statement or exhibit submitted for the > printed record or any written comments in response to a > request for written comments must conform to the guidelines > listed below. Any statement or exhibit not in compliance > with these guidelines will not be printed, but will be > maintained in the committee files for review and use by the > Committee. > > 1. All statements and any accompanying exhibits for > printing must be submitted on an IBM compatible 3.5-inch > diskette in WordPerfect or MS Word format, typed in single > space and may not exceed a total of 10 pages including > attachments. Witnesses are advised that the Committee will > rely on electronic submissions for printing the official > hearing record. > > 2. Copies of whole documents submitted as exhibit material > will not be accepted for printing. Instead, exhibit > material should be referenced and quoted or paraphrased. > All exhibit material not meeting these specifications will > be maintained in the Committee files for review > and use by the Committee. > > 3. A witness appearing at a public hearing, or submitting a > statement for the record of a public hearing, or submitting > written comments in response to a published request for > comments by the Committee, must include on his statement or > submission a list of all clients, persons, or > organizations on whose behalf the witness appears. > > 4. A supplemental sheet must accompany each statement > listing the name, company, address, telephone and fax > numbers where the witness or the designated representative > may be reached. This supplemental sheet will not be > included in the printed record. > > The above restrictions and limitations apply only to > material being submitted for printing. Statements and > exhibits or supplementary material submitted solely for > distribution to the Members, the press, and the public > during the course of a public hearing may be submitted in > other forms. > > Note: All Committee advisories and news releases are > available on the World Wide Web at > " http://waysandmeans.house.gov > > ------------------------------------------------------ > > To send information to the Social Security Information > project, to subscribe, or to contact the list manager, send > email to <ssip@...>. > > America's Future - Social Security Information Project > (202)955-5665 voice (202)955-5606 fax > 1025 Connecticut Ave., NW # 205 DC 20036 > http://www.ourfuture.org > > Quote Link to comment Share on other sites More sharing options...
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