But majority Republicans in a House committee Monday endorsed sweeping changes to the 75-year-old social insurance program, passing a resolution to the full House over the objections of AARP and minority Democrats.
AARP Utah Director Rob Ence persuaded lawmakers to edit out some information in the resolution he criticized as "misleading" and "false."
Repeating Bush's catch phrases and revenue estimates, sponsoring Rep. Mike Morley said Social Security is on the brink of insolvency. He insisted Americans born after 1970 will not be able to collect retirement benefits and taxes will have to be raised to pay benefits after 2042.
"It appears that what at one time might have been sound has become unsound," the Republican from Spanish Fork said. "If this were a private company, it would be considered a Ponzi scheme and would not be viable at all."
But Ence noted the president's - and Morley's - information is disputed by estimates from the Social Security Administration itself. Ence said the administration reports full payments can be made until 2042 and 70 percent after that. He said comparing Social Security to a Ponzi scheme and citing outlandish doomsday scenarios is fear-mongering. And Ence argued allowing younger workers to invest their Social Security money in the stock market will deplete Social Security in the short term.
"It's inappropriate to start frightening people," Ence said. "Social Security is a commitment between generations. We should honor that commitment."


