public:cb_mirror:dan_maclean_mt_testimony_state_of_social_security_docx_files_28684
To view this on the COS website, click here dan-maclean-mt-testimony-state-of-social-security
To download the docx file from the COS website, click here Dan_MacLean_MT_Testimony_-_State_of_Social_Security.docx
Dan MacLean MT Testimony: State of Social Security
Attachment: 4654/Dan_MacLean_MT_Testimony_-_State_of_Social_Security.docx
| State of Social Security Mr. Chairman and Committee Members My name is Dan MacLean, COS Co-State Director from HD52. The recent Federal Election has resulted in some promising prospects however we still have the Continuing Resolution, the Reconciliation process and ever-popular Congressional Earmarks. These structural issues have ballooned our debt to scary levels and compromised our ability to keep promises made generations ago. The runaway federal budget process must be reformed. The nonpartisan Committee For A Responsible Federal Budget reported late last year that Social Security is currently paying more in benefits than it receives in payroll taxes. The program's trustees project that trust fund reserves will be tapped out in the fourth quarter of 2033. By law, when the trust fund is depleted, Social Security can only pay out benefits equal to what it receives in payroll taxes. According to the report, that means a mandated 21% or $17,400 per year across-the-board Social Security benefit cut for retirees starting in late 2033. That’s just over eight years from now. When these real impacts hit, everyone in this room is going to feel it. It won’t matter whose fault it is when it happens, it will be a genuine crisis with far reaching impacts. Our fiscal house has to be put in order to prevent this. I urge you to step into this process to address the Congressional malfeasance, by participating in making real changes to the federal budget process. By passing this resolution, you can look your constituents in the eye and say, “I am doing something about the fiscal calamity that is brewing”. You will be supporting an Amendments Proposing Convention of the States, that finally allows us to bypass the Congress, the lobbyists and the special interests. Fiscal sanity is the only way we keep our promises. I urge you to support HJ5. |
| Page Metadata | |
| Login Required to view? | No |
| Created: | 2025-03-11 17:57 GMT |
| Updated: | 2025-03-11 17:57 GMT |
| Published: | 2025-03-11 17:57 GMT |
| Converted: | 2025-11-11 12:35 GMT |
| Change Author: | Daniella Landivar |
| Credit Author: | |
public/cb_mirror/dan_maclean_mt_testimony_state_of_social_security_docx_files_28684.txt · Last modified: 2025/11/11 12:35 by 127.0.0.1