Social Security, a hot topic today - WALB.com, South Georgia News, Weather, Sports

Social Security, a hot topic today

February 3, 2005

Albany- The buzz at Aunt Fannies restaurant today was all about Social Security. 50 year old Bill Hargrobe says "I'm concerned what impact it will have on me," "I would be surprised if there's social security when I get to retirement age," agreed 41 year old Greg Giles.

Social Security was a hot topic that President Bush addressed in his state of the Union Speech last night. "We must guarantee that there is no change for those now retired or nearing retirement," stated Mr. Bush.

Recent reports show that by the year 2042, Social Security funds will be depleted. President Bush explained "The system on it's current path however, is headed towards bankruptcy."

Charles Tennille, of the Social Security office in Albany explains"You have the concept of what they call the baby boom generation of actually having more people getting ready to retire," and with Americans also living longer, that means there will not be as many people paying in to social security, as there will be taking out.

"I don't know of any one good solution," said Tennille. Finding solutions is the challenge President Bush gave to Congress last night. Giles says "I think he's very sincere in what he's trying to do," and those who are already withdrawing social security agree that younger Americans should be concerned.

William Lawson who's been withdrawing social security for nearly thirteen years says of he and his wife"If we did not receive our monthly social security check, it would make a difference in our standard of living,"

The President did say in his speech last night that people 55 and over will not be affected by a reform in Social security.

Social Security is a retirement system that has been in effect for the past 70 years.

Posted by jennifer hulsey@walb.com at 5:50 PM.

  • More WALB News10 HeadlinesMore News HeadlinesMore>>

  • Westover alum graduates USAF basic

    Westover alum graduates USAF basic

    Thursday, May 25 2017 1:13 PM EDT2017-05-25 17:13:24 GMT
    Mychal Sanders (Source: USAF)Mychal Sanders (Source: USAF)

    U.S. Air Force Airman Mychal T. Sanders graduated from basic military training at Joint Base San Antonio-Lackland, San Antonio, Texas. 

    More >>

    U.S. Air Force Airman Mychal T. Sanders graduated from basic military training at Joint Base San Antonio-Lackland, San Antonio, Texas. 

    More >>
  • NOAA: Look for a busy hurricane season

    NOAA: Look for a busy hurricane season

    Thursday, May 25 2017 11:56 AM EDT2017-05-25 15:56:33 GMT
    A hurricane, shot by a satellite camera (Source: NOAA)A hurricane, shot by a satellite camera (Source: NOAA)

    The weather experts at the National Oceanic and Atmospheric Administration are expecting a 70 percent chance that there will be 11 to 17 named storms in this year's Atlantic Hurricane Season.

    More >>

    The weather experts at the National Oceanic and Atmospheric Administration are expecting a 70 percent chance that there will be 11 to 17 named storms in this year's Atlantic Hurricane Season.

    More >>
  • Bringing back business, living and entertainment to downtown Albany

    Bringing back business, living and entertainment to downtown Albany

    Thursday, May 25 2017 8:34 AM EDT2017-05-25 12:34:28 GMT
    Synergy. That is the word that might best describe what is happening in downtown Albany right now. (Source: WALB)Synergy. That is the word that might best describe what is happening in downtown Albany right now. (Source: WALB)

     For the older generation, people remember the pre-flood, pre-Albany Mall days when downtown Albany was the place to shop and eat. Now, it's the younger generation that's pushing for a vibrant downtown. 

    More >>

     For the older generation, people remember the pre-flood, pre-Albany Mall days when downtown Albany was the place to shop and eat. Now, it's the younger generation that's pushing for a vibrant downtown. 

    More >>
Powered by Frankly