PRESIDENT Bush briefly mentioned a major talking point for young conservatives in his State of the Union address. We must reform Social Security to protect it for this generation.
Currently, Social Security trustees claim that payroll income will be inadequate to grant Social Security payments by the year 2015, according to the Republican National Committee. A graduating senior that goes to work will pay into the failing system for 13 years without seeing a dime.
There is no question that Republicans have stood up for an underrepresented populace by adding Social Security reform to their platform. This stance stands in the face of a great baby boom generation looking to cash in on a lifetime of investment. Young people must realize that this issue will mobilize us in the coming years.
The Republican Party is suggesting a Social Security reform that will allow all workers the option to invest a portion of their Social Security account in the private sector. This is emphasized as a choice, meaning that the option is open to leave your money in the current system. By contrast, the Democrats' promise to save Social Security comes at the expense of important tax reform, such as making permanent last year's tax cut for all Americans. Another Democratic alternative is raising the retirement age - a band-aid on a bullet wound. The Democratic position on Social Security is an overture to a high voting demographic, ignoring better reason and perpetuating the failure of America's most important social welfare organization.
Bush's move to reform Social Security is coddling to young voters, and represents a leap of faith for the Republican Party. The youngest voting demographic is the least likely to vote in an election. Furthermore, both the baby boom and the elder generation have a vested interest in Social Security status quo. At some point after paying years of paycheck deductions into the Social Security system, older workers anticipate that their younger counterparts will do the same.
The system, as it stands, works on a system of credits and not direct deposits into a personal account. Your monetary earnings correspond with credits for future benefits. Beneficiaries take their Social Security payments from money that current workers are paying into the system. This system works smoothly so long as the money coming into the system is adequate to compensate those taking money out of the system. Older people rely on our generation to support the system from which they are drawing. This demographic shows up to the polls more frequently and faithfully for its respective party.
Young people will be left behind when the Social Security account dries up. When the bulk of this generation realizes this, the issue will hit the political landscape as a frontrunner. A good showing in the coming election will prove to politicians on both party lines that the issue of Social Security reform deserves close scrutiny. Campaign platforms are based on focus group analysis, and the focus groups consist of likely voters. If the youngest demographic wishes to see its issues at the forefront of campaigns and debates, it must start showing up at the voting booths.
Social Security has clarified classic party differences concerning social welfare. If ambiguity on the issues prevents young people from voting, Social Security has provided them a reason. The rhetorical lines were drawn once again. Facing an election year, Bush is catering to the young vote while Senate Majority leader and Democratic Party vanguard Tom Daschle vowed to protect Social Security from the change it needs most.
Daschle wishes to retain a governmental grip on ailing institutions like Social Security. This squares with the classic Democratic notion of big government, trusting elected officials with private earnings. If Daschle has his way, Social Security will be an account from which we will deposit our hard earned money never to see again.
Young people, especially informed University students, should mobilize in the next election to announce a presence of voters who demand accountability fortheir Social Security funds.
The Republican idea offers young workers options with their Social Security while the Democrats ensure that you'll never see that money again.
(Matt West's Column appears Thursdays in The Cavalier Daily. He can be reached at mwest@cavalierdaily.com.)
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