Simpson, the Real Lady Killer

Simpson attacks livelihood of older woman living barely above the poverty level.

Alan Simpson, National Commission on Fiscal Responsibility and Reform characterized Social Security as "a milk cow with 310 million tits." He was responding to a letter from a group representing older women. The average Social Security beneficiary is the recipient of $13,900 per year, little more than the 2008 poverty level of $10,830.

Simpson blames Social Security for American's debt problems. However, it was structured to create a surplus. The surplus resulted from taxes employees and their employers paid throughout their working careers, specifically to cover this insurance. Social Security is in trouble now not because the insured are receiving the benefits they paid for but because, as the Center on Budget and Policy Priorities has shown, the surplus was wasted paying for the Bush tax cuts and the wars in Afghanistan and Iraq.

http://www.cbsnews.com/8301-503544_162-20014698-503544.html