GAO Urges Congress to Act on Social Sec.
[28 July 2003 - THE ASSOCIATED PRESS] The sooner Congress addresses the inevitable decline in Social Security revenue when baby boomers begin retiring in five years, the easier it will be for future generations to keep the system afloat, congressional investigators say. The General Accounting Office, the investigative arm of Congress, examined the current system and how it fares for future retirees in a report prepared for Sen. Larry Craig, R-Idaho, chairman of the Senate Special Committee on Aging. ... If no changes are made, recipients would see benefit cuts of nearly a third by 2039, the report said. Social Security faces a $3.8 trillion deficit during the next 75 years. Younger Americans must confront a combination of tax increases, cuts in government programs and services and reduced retirement benefits needed to restore long-term financial health to Social Security, the report said.

Survey Shows Older Americans More Worried About Personal Well-Being Than About Terrorists
[24 July 2003 - National Council on the Aging] A new survey by The National Council on the Aging (NCOA) shows that more older Americans are likely to be worried about threats to their own personal well-being than global threats. The survey, funded by MetLife Foundation and part of a new NCOA/MetLife Foundation project to increase civic engagement by older Americans, showed that some 40% of those over age 60 are more worried (very or somewhat) about physically caring for themselves (44%) or losing their memories (42%) than terrorist attacks (35%). The survey also revealed that older Americans are worried that their children, grandchildren or youth in general will be exposed to drugs (63%) or face a lack of employment opportunities (54 %). In other words, more are worried about threats to their families than problems they may face.