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By M. PAUL JACKSON mjackson@leader.net
Saturday, January 29, 2000 Page: 7A
WILKES-BARRE – The federal surplus bolstering the Social Security system will
keep the program safe for decades to come, but more work needs to be done to
ensure everyone is covered, federal officials said.
Jane Ross, deputy commissioner for policy for the Social Security
Administration, said Monday that the Social Security program is safe until
2034.
After that, the program might take in less than it pays out and might
begin to lose money.
Currently “the system is solvent,” Ross said. “There is a way to advance
(the program) in a meaningful, but not very controversial, way.”
Ross, the deputy commissioner since April 1998, was one of a handful of
federal policy makers sent out Friday to discuss President Clinton’s State of
the Union speech.
The Thursday night speech addressed ways to save the Social Security
program beyond 2034. Clinton’s plan calls for the government to reinvest part
of the interest from the $100 billion budget surplus back into the program.
The plan still must pass a sharply partisan Congress, but Ross seemed
confident it would succeed.
“I think this is the kind of thing where everyone can share in the victory
of advancing Social Security,” she said. “It’s basically a financing
proposal.”
The program is becoming more expensive because people are living longer,
Ross said. The increased health of Americans is costing the country more
money.
Currently, there are about 35 million Americans more than 65 years old. In
30 years, that number will increase to about 70 million, Ross said.
“Of course, it’s going to be a more expensive system,” she said. “It’s
becoming more costly because our society is aging.”
A law that raises the retirement age to 67 would save the program some
money, but it also could unfairly stress those workers with more physically
demanding jobs, she said.
For example, employees in office settings might be able to work longer than
employees working years outdoors or in a factory setting, Ross said. Raising
the retirement age could force some employees to work longer, possibly
impacting their health.
Call Jackson at 829-7134.