Moms need Social Security |

Moms need Social Security

The American Association of University Women Educational Foundation recently asked adult children about the financial security of their mothers. It turns out that people whose mothers have not yet reached retirement age are not fully aware of the significance of Social Security in their mother’s retirement.

Yet the vast majority of older women (90 percent) receive Social Security, and for most of them, it is the largest source of income. Overall, Social Security makes up more than half the income of women age 65 and older.

Social Security privatization plans have recently been thwarted, but the threat is not over. President Bush’s 2007 budget includes a plan for partially privatizing Social Security. This proposal would substantially reduce Social Security benefits and significantly increase the national debt.

New federal incentive programs to save should not come at the expense of the guaranteed, lifetime benefits of Social Security.

We can never repay our mothers, but we can try to ensure that they are financially secure throughout her lifetime. Mothers may like chocolates on Mother’s Day, but Social Security is still their bread and butter.

Elaine Sierra

Grass Valley

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