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Social Security

SOCIAL SECURITY will reach its 80th birthday this Friday. The $64,000 question is how many more birthdays will the federal government’s largest benefit program celebrate.

Social Security is experiencing tough times. It is a program at the crossroads.

With its funding reserves dwindling, Social Security may turn into a political football. That is unfortunate as time is of the essence to remedy the problem.

President Franklin Roosevelt signed the Social Security Act on Aug. 14, 1935. In recent years, it has become increasingly difficult for the system to pay for itself.

In 1960, there were more than five workers for every person receiving Social Security. Today, there are fewer than three. In 20 years, there will be about two workers for every person getting benefits.

Such numbers spell long-term problems.

Republicans are pushing to cut benefits while a growing number of Democrats is pulling to expand them. Social Security will certainly be a central issue in the presidential campaign.

Currently, some 60 million retirees, disabled workers, spouses and children get monthly Social Security payments, a number that is projected to grow to 90 million over the next two decades.

The retirement trust fund has enough money to pay full benefits until 2035.

Social Security benefits are the lifeblood to countless Americans. It is also a system in need of repair, and quickly.

It is hoped that the federal government realizes the urgency and scope of the problem and works together to find a workable solution before it becomes a crisis.

Millions of Americans deserve as much.

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