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PRESS RELEASE FROM AMERICANS FOR TAX REFORM
 Contact: John Kartch ( jkartch@atr.org or 202-785-0266)

[View Printable Adobe Acrobat File]

5/23/05

Social Security Fact of the Day
Social Security cannot afford to pay all of the benefits it has promised.Beginning in 2017, it will run cash deficits that get bigger every year.

The daily debate over Social Security personal accounts sometimes can benefit from stepping back and looking at why the elderly entitlements will pose such a challenge in the near future. The number of Americans over age 65 will grow from about 35 million today to about 86 million by the time today’s younger workers retire. Furthermore, elderly over the age of 85 will grow from 11% of all older Americans to a quarter of all seniors in that same period. Personal accounts that younger workers can own and control are the only hope to finance this welcome lengthening of life.

Social Security has a problem, and we need to fix it. Personal accounts are the solution.

Elderly Population Will Grow, Get Even Older
Source: U.S. Census Bureau, 2005

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Americans for Tax Reform is a non-partisan coalition of taxpayers and taxpayer groups who oppose any and all federal and state tax increases.  For more information, or to arrange an interview with Mr. Norquist please contact John Kartch at (202)785-0266 or by email at jkartch@atr.org.