A Quote by Tony Snow

Today there are about 40 million retirees receiving benefits; by the time all the baby boomers have retired, there will be more than 72 million retirees drawing Social Security benefits.

Tony Snow

Quote Topics

About Baby Baby Boom Baby Boomer Baby Boomers Benefits Boomers By The Time Drawing Million More Receiving Retired Security Social Social Security Than Time Today Will

Quote Author

Tony Snow
American - Journalist
June 1, 1955 - July 12, 2008

The President's proposed privatization plan would jeopardize that security by cutting guaranteed benefits for future retirees and endangering the benefits of current retirees, people with disabilities, and children who have lost a parent.

Chaka Fattah

The Presidents proposed privatization plan would jeopardize that security by cutting guaranteed benefits for future retirees and endangering the benefits of current retirees, people with disabilities, and children who have lost a parent.

Chaka Fattah

Currently, more than 4.7 million African Americans receive Social Security benefits, and nearly 8 million people with disabilities depend on Social Security for their daily sustenance.

Chaka Fattah

As you know, Social Security functions under the premise that today's workers will help finance benefits for retirees and that these workers will then be supported by the next generation of workers paying into the same system.

Steve Israel

The children of baby boomers should take very seriously the consequences for them of the inadequate funding for them of the baby boomer generation. This is a huge economic problem for the nation, not just for individuals or individual families. Think about it for a minute - if retirees become 20% of our population and their purchasing power falls below what has been normal for retirees in the past, one important engine driving our economy will be diminished.

Hedrick Smith

The retirement financial crisis will affect far more people than baby boomers, and certainly it will affect their children. Most of the retirees and near-retirees with whom we talked, said that they were extremely reluctant to have to depend on their children financially, or to think of moving in with their children. But the mere fact that they were discussing those issues indicates that some of them have already figured out that that is what lies ahead for them.

Hedrick Smith

More retirees, longer life expectancy, larger benefits, and fewer workers - these trends have meant substantial increases in the payroll tax. Since the social security program began, the payroll tax has increased more than 500 percent.

Alex Tabarrok

However, the Administration's plan to privatize Social Security will undermine retirement security for all Americans by cutting guaranteed benefits by more than 40 percent, and risky private accounts won't make up for the loss of benefits for millions of Americans.

Ruben Hinojosa

Throughout the Great Recession of 2008, the average 401(k) balance lost anywhere from 25 to 40 percent of value. Nobody was more harmed than baby boomers or recent retirees, who, unlike younger workers, didn't have the time for the market to rebound or were no longer contributing and therefore unable to invest when stocks were cheap.

Mary Pilon

The United Auto Workers is AARP in an Edsel: It has three times as many retirees and widows as 'workers' (I use the term loosely). GM has 96,000 employees but provides health benefits to a million people.

Mark Steyn

Open the borders to willing workers from any and all nations. They will create businesses that pay taxes, especially payroll taxes to fund Medicare and Social Security benefits of retiring baby boomers.

Louis Navellier

Today, Medicare provides health insurance to about 40 million seniors and disabled individuals each year. The number is only expected to grow as the baby boomers begin retiring.

Jim Bunning

Social Security is something that we need to deal with, because people who are working today, who will retire in the future, people who are retired today, they have a right - and it's part of the compact that they can depend on their benefits. We should fix the long-term funding problem of Social Security because that's the right thing to do.

Jack Lew

If we do not act now to strengthen Social Security, the system that so many depend upon today will be unable to meet its promises to tomorrow's retirees, and it will burden our children and grandchildren with exhaustive taxes.

Chris Chocola

Without Social Security benefits, more than 40 percent of Americans 65 years and older would live below the federal poverty line. Even more striking is that Social Security is the only source of retirement income for almost a quarter of elderly beneficiaries.