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A P R I L 2 0 2 3 — WA S H I N G T O N B E A C O N
Who’s your real friend? You probably either watched or read bank or other — this is not literally the about the impromptu exchange at this year’s case and never has been. State of the Union address beThere is no huge governtween President Biden and ment pension plan where the congressional Republicans Social Security taxes you and concerning Social Security. your employers have been payDid the rare display of ing since you got your first paypoliticians apparently in check get invested and grow agreement that Social Securiover decades until you finally ty is “not to be touched” give get to claim them in retirement. you goosebumps — or chills? Instead, the wages of curI ask it that way because I rent workers are being taxed firmly believe that any politinow to pay benefits to today’s cian who pledges not to FROM THE retirees, just as they have been touch Social Security is not PUBLISHER since 1935, when Social Secuone who loves seniors, but By Stuart P. Rosenthal rity came into being. rather one who disdains the The problem is, in 1935 more than 65 million people who are cur- there were 22 workers paying into the sysrently receiving benefits and the even larg- tem for every retiree collecting benefits. er number of Americans who will be ex- Today, there are fewer than 3. pecting them in the future. That’s a demographic fact no politician We have all known for decades that Social can afford to ignore: The smaller generaSecurity has been heading towards “insol- tions that followed the baby boom are carvency” around the year 2030, give or take a rying the burden of paying for the few. The retirement of the baby boom gen- boomers’ (and their elders’) retirement. eration (the last of whom will hit 60 in 2024) Add to that the (generally) growing is part of the reason, but so is the rising lifespan of each generation, and the problongevity of Americans in general, thanks to lem we have long known was heading this the miracles of modern medicine. way is now at our doorstep. You see, while politicians will tell you At the Beacon 50+ Expo in 2011, our that Social Security is “your” money that keynote speaker was Charles Blahous, a you paid into the system — implying that it public trustee of Social Security, who exsimply needs to be withdrawn from some plained clearly that the popular program
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The Beacon is a monthly newspaper dedicated to inform, serve, and entertain the citizens of the Greater Washington DC area, and is privately owned. Other editions serve Greater Baltimore and Howard County, Md. Readership exceeds 400,000. Subscriptions are available via first-class mail ($36) or third-class mail ($12), prepaid with order. D.C. and Maryland residents: add 6 percent for sales tax. Send subscription order to the office listed below. Publication of advertising contained herein does not necessarily constitute endorsement. Signed columns represent the opinions of the writers, and not necessarily the opinion of the publisher. Publisher/Editor – Stuart P. Rosenthal President/Associate Publisher – Judith K. Rosenthal Executive Vice President – Gordon Hasenei Managing Editor – Margaret Foster Art Director – Kyle Gregory Advertising Representatives – Dan Kelly, M.K. Phillips, Alan Spiegel Marketing & Operations Manager – Ashley Griffin Assistant Editor – Ana Preger Hart Client Liaison – Jaclyn Thompson
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was heading toward insolvency if it wasn’t fixed, and fixed soon, by Congress. Now, insolvency doesn’t mean Social Security will disappear. But it does mean that, as presently operating, all beneficiaries will see a cut of about 25% in their benefits starting in 2030 or thereabouts. Blahous also made the point that, for every year Congress kicks the can down the road, the cost to fix the program — and the pain it will cause — will grow. Ten years later, in 2021, we presented another expert at the virtual Beacon 50+ Expo, Dr. Mark Warshawsky, a former deputy commissioner of Social Security. He brought us up to date with not only more dire projections, but also a dozen potential solutions to the problem. Of course, any of the most likely steps could be politically damaging: risking the ire of recipients (who might get lower costof-living increases or wait longer to qualify), of workers (who might see more of their paychecks withheld), of employers (who would have to match their employees’ contributions), and of taxpayers (who might find their taxes go up). If each of these constituencies were asked to bear part of the cost to help Social Security fulfill its future commitments, no one group or person would have to suffer inordinately. So, are we hearing voices among our nation’s leaders saying we owe this to older Americans? Are they weighing the pros and cons of the multifarious ways they can tweak the program to keep it solvent?
No. On both sides of the aisle, our socalled leaders are grandstanding on television and in the press, preening before the cameras and loudly braying, “We won’t touch Social Security.” A plague on both their houses! In order to preserve their coveted positions in Congress, nearly all politicians today are claiming to be your friend when, in fact, they are guaranteeing you (and your children, probably) will suffer serious financial harm through their immature behavior. They need to get a spine and sit down rationally to discuss the many different ways — ways that have been identified clearly over the years — to correct the course of Social Security and not leave millions of older adults with reduced checks. What are they afraid of? You. Voters. So how can you help? For one thing, talk amongst yourselves, and educate others about what’s really needed to preserve this essential program for us and future generations. The program isn’t going to fix itself. Second, I would urge you to contact your congressional representatives and tell them they need to take action, now, to set Social Security on a sound fiscal path for the future. And be sure to add that you won’t kick them out of office for doing so. In fact, you’ll only kick them out of office for NOT doing so!
Letters to the editor Readers are encouraged to share their opinions on any matter addressed in the Beacon as well as on political and social issues of the day. Mail your Letter to the Editor to The Beacon, P.O. Box 2227, Silver Spring, MD 20915, or email to info@thebeaconnewspapers.com. Please include your name, address and telephone number for verification. Dear Editor: I am a retired journalist who just read the March Beacon front to back when it arrived. My response to your Publisher’s column is “Right on!” I agree writers and editors have a limited amount of time to compose an article (sometimes three a day!), but these time constraints equal inadequate reporting and a lack of critical thinking. A course for students as you mentioned would be helpful. Mary P. Felter Arnold, MD Dear Editor: I just read your March “From the Publisher” column on Critical Thinking and couldn’t agree with you more. Like law school with less pain? Debbi Mack Columbia, MD Dear Editor: I can relate to your March cover article, “Don’t Retire; Reinvent Yourself.” I recently got a part-time job as a caregiver with Seniors Helping Seniors, and I have experi-
enced much of what the article discussed. A big part of my job as a caregiver is providing companionship to seniors who need socialization and support. I find the work I do to be very rewarding, and enjoy developing relationships with my clients, who are people I wouldn’t ordinarily meet in day-to-day life. Some of my clients have become true friends — I am going to the theater with one of my clients. I also enjoy meeting the other caregivers, all of whom are active and civic-minded seniors. I enjoy the work I get to do every day, and the opportunity to serve the seniors in my community, while also financially providing for my family. Sallie Lowe Laurel, MD Dear Editor: In your March issue, an article from Kiplinger details the various scams criminals undertake to impersonate a bank. This is followed by tips to protect oneself, See LETTERS TO EDITOR, page 37