Long-term solvency can be achieved while strengthening benefits for most vulnerable
WASHINGTON – As the United States transitions to a “majority-minority” population over the next three decades, Social Security must be modernized to meet the needs of an increasingly diverse and economically insecure workforce, according to a report released today by the Commission to Modernize Social Security, made up of national policy experts representing African American, Asian American, Latino and Native American communities. Continue reading
Update (01/18/2013): The Commission has recently updated data for the report, specifically “Figure 9.” The updated data is not reflected in the original October 2011 document, but is attached below as an addendum.
As the United States to a “majority-minority” population over the next three decades, Social Security must be modernized to meet the needs of an increasingly diverse and economically insecure workforce. Although Social Security does not contribute to the federal deficit, Social Security benefit cuts are at the center of discussions in Congress to reduce the federal debt.
Plan for a New Future: The Impact of Social Security Reform on People of Color (NOTE: Updated data is available below) argues that changes to the program must consider the impact on workers and families of color who are more vulnerable to economic instability and far less likely to have generational wealth than white families. The report cites U.S. Census Bureau data showing that a majority of babies born in this country are now from minority racial groups. If this trend continues, the overall U.S. population is expected to become “majority-minority” by 2042. Continue reading
Roland Martin talks with Dr. Maya Rockeymoore and Dr. Julie Ajinka about how the Debt Super Committee’s decisions to cut $1.5 trillion dollars will impact African-Americans.