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The latest on the Key Bridge collapse, New York puts forth legislation to get clean energy projects on the grid and Wisconsin and other states join a federal summer food program to help feed kids across the country.

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NH Groups: Stop the Drama; Social Security is Solid

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Wednesday, June 1, 2011   

CONCORD, N.H. - Talk about the deficit and threats of cutting programs are on the agendas of prominent Republicans who are testing the political waters in New Hampshire and hope to give President Obama a real challenge in 2012. One charge is that Social Security is unhealthy and needs major changes.

However, Stephen Gorin, executive director of the New Hampshire chapter of the National Association of Social Workers, says the program is strong and has nothing to do with the country's deficit. The annual report released by Social Security's trustees shows it is doing just fine, he says.

"I think the report is actually good news. It shows that Social Security is solid over the next several years and demonstrates that, with some relatively modest changes, we can bring it into balance for the next 50 to 75 years."

Gorin advocates raising the tax cap on workers who earn more than about $106,000 annually, because that's the current maximum amount of income tapped for Social Security contributions. People who earn above that amount do not pay any more into the system. He also says the nation's focus should be on job creation, which he sees as a sure-fire way to generate more funds for the program.

If lawmakers are truly concerned about the deficit, says Eric Kingson, co-director of Washington-based Social Security Works, a good place to start would be to end the tax cuts for individuals making more than $200,000 per year and families making more than $250,000.

"Continuing the Bush tax cuts to those households is roughly equivalent of what it would cost to fix Social Security for our children, grandchildren and great-grandchildren."

Social Security is solvent through 2035, Kingson says, adding that with 401(k) plans shrinking, home values falling, and pensions becoming a thing of the past, cutting benefits for those who already have paid into the system would lead to further economic instability.


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