Hold Congress Responsible for Meeting their Obligations

Social Security Old-Age, Survivors, & Disability Insurance & Medicare's Hospital Insurance (HI) Programs are financed by employment taxes. Congress has failed over many years to manage the entire government budget process creating annual debt which has created a larger deficit accumulated over many many years of failed fiscal discipline.

Today politicians speak of the need to cut the insurance programs for citizens whom have faithfully paid their end of the insurance contract. The same citizens who have planned on these insurance benefits for their retirement  years, 5, 10 and 20 years out.

Tell congress their failure to properly manage the government overall budget is no excuse to change the Social Security, Medicare and/or Unemployment Insurance Program Benefits in any way.

These same elected officials have enacted bankruptcy laws for the private industry which allows private enterprise to make retirement security promises to employees over many years, decades or a lifetime; then when the management team looses sight of the organizational strengths, weaknesses, opportunities and threats and finds itself with financial difficulty, can file for bankruptcy to shed it's responsibility to their employee pension and retirement obligations. Thus placing the previously private enterprise retirement fund in the hands of the "Pension Benefit Guaranty Corporation" (PBGC).

The PBGC is funded four sources:

• Insurance premiums paid by sponsors of defined benefit pension plans;
• Assets held by the pension plans it takes over;
• Recoveries of unfunded pension liabilities from plan sponsors' bankruptcy estates and
• Investment income.

PBGC pays monthly retirement benefits to approximately 631,000 retirees of 3,800 terminated defined benefit pension plans. Including those who have not yet retired and participants in multiemployer plans receiving financial assistance, the PBGC is responsible for the current and future pensions of about 1.3 million people.


Private Companies go bankrupt to dump their pension obligations onto the #PBGC just like congress is trying to dump their social security, medicare and unemployment obligations onto the backs of the very people paying for thses insurance programs in the first place.

Tell Congress their plans to make major changes to Scoial Security, Medicare and/or Unemployment are NOT ACCEPTABLE.

#Vote2012