Barrett: Private accounts good for Social Security

March 23, 2005

By WALLACE McBRIDE
Index-Journal senior staff writer

U.S. Rep. Gresham Barrett is on the road this week pitching proposals to remodel America’s Social Security system.
This tour brought him Tuesday to Greenwood, where he addressed a group comprised mostly of senior citizens and college students.
“The numbers are starting to show that we can’t keep up with what we’re supposed to be paying,” Barrett said.
The situation will become more urgent in 2008 when the first major wave of the “baby boom” generation will retire and begin to strain Social Security funds, he said.
Since the Social Security system was created in 1937, payments began when American citizens turned 65. The average life expectancy for Americans at that time was 63, Barrett said.
“That was a good deal for the government,” he said. “Odds are you were going to be dead before we had to start paying you.”
Payroll taxes have been raised 20 times to extend the life of Social Security, he said, and it takes more people to support a single beneficiary. In 1950, it took 16 workers to pay the retirement benefits for one person. Today, it takes 3.3 workers for every one person.
Barrett wasn’t championing a specific plan Tuesday, but did argue in favor of the president’s proposal to create private savings accounts to subsidize — and possibly replace — Social Security.
“One of the major problems with Social Security is that Congress — in the past and present — spends the reserves,” Barrett said.
Personal accounts would be private property, not an additional source of government funding, he said.
“It’s a lot harder for the government to take it away if you own it,” he said.
Regardless of which proposal is adopted, Barrett said benefits will be preserved for everyone age 55 or older.
“One thing for certain is that benefits for retirees and coming retirees will be paid in full,” said Mike Korbey, who is accompanying Barrett on his tour. “We have to make changes to make sure it’s strong and viable for their children and grandchildren.”
Korbey is senior adviser to the deputy commission of the Social Security Administration.
Max Pappas, director of policy for Freedom Works, a national grassroots organization, said private retirement accounts would earn interest over the years.
“Based on the last 100 years of bonds and stocks, there’s almost no scenario where you wouldn’t have a higher rate of return than you have now,” he said.
Barrett said this plan would overlap the current Social Security model and likely come with additional expenses in the interim.
“There are a lot of plans out there,” Barrett said. “There are four to seven congressmen on the House side with plans. What a lot of congressmen are doing this week is having forums to talk about what won’t work and what we think will work.”
Nobody expressed much faith in the government’s competency to shepherd these changes, though. Many of those present for the Lander event were old enough to have witnessed many changes in Social Security funding, and expressed doubt that a new system wouldn’t eventually be changed by future politicians.
“We’ve had a lot of people upset,” Barrett told the Greenwood Rotary Club later that afternoon. “But there’s a group of us trying to get our hands around this ball.”

U.S. representative touts ‘Common Sense Spending’

March 23, 2005

By WALLACE McBRIDE
Index-Journal senior staff writer

Money was on S.C. Rep. Gresham Barrett’s mind Tuesday.
The Republican congressman was guest speaker at the Greenwood Rotary Club’s regular meeting, and shared brief observations of a number of bills he’s introduced relating to government spending.
Last month, Barrett introduced legislation to require the federal government to exercise “fiscal restraint” when putting forth a budget.
The legislation is called the Common Sense Spending Act of 2005, and would continue to fund non-defense and non-homeland security discretionary spending at current levels for the next year and restrict later increases to the rate of inflation.
This bill would also slow the growth of mandatory spending by 1 percent, and would require restrictions on what constitutes an “emergency” when it comes to spending.
Barrett has also introduced the independent Emergency Spending Control Act of 2005,which would require justification from the president when submitting “emergency” funding requests.
The bill seeks to create a separate non-military reserve fund in the budget in anticipation of such “emergency” funding needs.
“Too many times we get things under the purview of ‘emergencies’ that are not emergencies,” he said.
Damage caused by hurricanes is peripheral to this issue, he said. Most states that experience hurricanes can expect them annually.
“Why don’t we budget for that?” he asked. “We know it’s going to happen.”
Florida required four bills for emergency spending in 2004 because of hurricanes, he said.
Changes in the nation’s tax structure will become a larger issue later this year.
“I’ve submitted a bill called the (Tax Reform Action Committee) Act to have a blue ribbon team come in and tell us what to do with our taxes,” Barrett said.
This bill would create a bipartisan commission to examine the current tax system and recommend changes to the structure.

Opinion

We pay more for gasoline, but prices go up all over

March 23, 2005

It gets discouraging for motorists to drive past the gasoline pumps where they normally fill up and see the price of a gallon of gasoline higher than it was the day before. When they see it happen again that night, it leaves them mumbling to themselves ….. or worse.
We are painfully aware, of course, of escalating gasoline and fuel prices. When it hits us personally we get the picture. Today, many if not most of our high school and college students have automobiles of their own, and that puts further strain on family budgets.
But, rising prices hit us in other ways, too, which we sometimes may not even think about.

TO HELP PUT THAT IN perspective, think about the trucking industry, on both the corporate level and for independent truckers. Higher prices put pressure on their operational costs, naturally, whether it’s in the form of gasoline or diesel fuel. To get by, they cannot absorb all the increases. If they did, they’d soon go out of business.
So, the logical thing to do is to seek approval to increase their charges for hauling. That follows on down the line to the shippers of goods and produce. They, too, are forced to raise their prices. This brings on an increase in the cost of groceries and just about everything people use every day.
Businesses that deliver, including dairies and others, also have to raise prices to help offset their costs.
Then there are the public services, such as law enforcement, trash and garbage collections, school buses, taxi companies, and the list seems endless.

AIRLINES? IT’S NOT OUT of the question that high fuel prices could put some of them out of business. Some have declared bankruptcy already and some others aren’t all that far from it.
The negative effect of rising oil prices obviously takes a toll that is far-reaching. It’s been said often but it cannot be said enough. The consumer is squeezed every time the price of a gallon of gasoline goes up. He knows that. But, guess who pays more when others – truckers, airlines, etc. – pay higher prices, too. The consumer, of course. Price increases are always passed on.
It was encouraging, then, to see the U. S. Senate vote to allow drilling for oil in the Arctic National Wildlife Refuge in Alaska. Senators Lindsey Graham and Jim DeMint obviously see the need. They voted yes. It is the right thing.

Editorial expression in this feature represents our own views.
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Obituaries

Kunte Kinte Elmore

Services for Kunte Kinte Elmore, of 1014 Flatwood Road, are 2 p.m. Thursday at Bethel Missionary Baptist Church, Cross Hill, conducted by Pastor Jerry A. Aiken and Pastor Anthony Sims is presiding. Assisting are Pastors James A. Gray, Andy Young and Ray A. Pilgram. The body will be placed in the church at 12. Burial is in Allen Chapel A.M.E. Church Cemetery, Abbeville County.
Pallbearers are Anthony Campell, Tony Hunter, Christopher Richard, Horace Wardlaw and John Dunlap. Flower bearers are deaconesses of Faith Cathedral Look Up and Live Ministries.
Honorary escorts are ushers of Bethel Missionary Baptist Church.
Visitation is 7-8 tonight at Robinson & Son Mortuary.
The family is at the home of a grandmother, Marie Elmore, 658-B Gage Street Apartments.
Robinson & Son Mortuary Inc. is in charge.
Online condolences may be sent to the family at robson@emeraldis.com

Joseph B. Madden

LAURENS —Joseph B. Madden, 83, of 678 Deer Valley Road, husband of Mildred Tripp Madden, died Saturday, March 19, 2005 at National Health Care.
Born in Laurens County, he was a son of the late Leland Glenn and Rannie Lou Lollis Madden. He retired from the State Highway Department and was a World War II Navy veteran and a member of Mount Pleasant Baptist Church.
Survivors include his wife of the home; five sons, Glenn K. Madden of Badung, Indonesia, James T. Madden of Waterloo, Stephen Madden of Kershaw, Joseph Edward Madden of Hickory Tavern and Wayne Madden of York; three daughters, Sandra, Marie and Janet Madden; two brothers, Horace Madden of Ware Shoals and the Rev. Truman T. Madden of Simpsonville; two sisters, Ollie Mae Wells of Laurens and Christine M. Cothran of Ware Shoals; 20 grandchildren; and several great-grandchildren.
Services are 3 p.m. today at Mount Pleasant Baptist Church, conducted by the Rev. Roger Smith.
Burial is in the church cemetery.
Visitation is 2-3 today in the church fellowship hall.
The family is at the home.
Parker-White Funeral Home, Ware Shoals, is in charge.

Mary Ella McKinney

SALUDA — Mary Ella McKinney, 85, widow of Andrew McKinney Sr., died Sunday, March 20, 2005 at Self Regional Medical Center in Greenwood.
Born in Saluda County, she was a daughter of the late Tom and Seabell Abney Hill. She was a member of Lockhart Baptist Church and retired from St. Elizabeth Hospital in Washington, D.C.
Survivors include a daughter, Ethel Mae Stevens of Saluda; three sisters, Ella Blocker and Ethell Pope, both of Washington, D.C., and Cora Bell Mason of Saluda; 11 grandchildren; 10 great-grandchildren; nine great-great-grandchildren.
Services are 2 p.m. Saturday at Lockhart Baptist Church, conducted by the Rev. Herman Jenkins, pastor. Burial is in the church cemetery. The body will be placed in the church at 1.
Pallbearers are nephews.
Flower bearers are nieces.
The family is at the home of a daughter, Mrs. Henry (Ethel) Stevens, 1404 Bonham Road.
Butler & Sons Funeral Home is in charge.

Martha E. Reeder

MOUNT CARMEL — Martha Elizabeth Reichenbach Reeder, 89, of Route 1, widow of Thomas K. Reeder, retired Air Force master sergeant, died Monday, March 21, 2005 at Abbeville Nursing Home.
Born in Sunbury, Pa., she was a daughter of the late Charles and Vergie Leitzel Reichenbach. She was a retired registered nurse, with more than 50 years of service, and a former member of South Beltline Baptist Church in Columbia.
Survivors include a daughter, Robin J. Reeder of Mount Carmel.
Graveside services are 2 p.m. April 5 in Arlington National Cemetery, Arlington, Va.
Memorials may be made to Columbia Meals on Wheels, 2817 Millwood Ave., Columbia, SC 29205; the American Red Cross, 2751 Bull St., Columbia, SC 29201; or the American Cancer Society, 128 Stonemark Lane, Columbia, SC 29210.
Harris Funeral Home, Abbeville, is in charge.
Online condolences may be sent to the family at www.harrisfuneral.com

Elouise Robinson

Elouise Robinson, 72, of 1303 Bunche Ave., died Tuesday, March 22, 2005 at Providence Hospital in Columbia.
Born in Greenwood, she was a daughter of the late Johnny and Earline Carter Martin. She was a former hospital domestic worker. She was a member of Mount Zion Baptist Church and a former Gospel Choir member.
Survivors include a son, Herthy Fred Robinson of Washington, D.C.; a daughter, Mrs. Cleophus (Kathy Jean) Morris of Columbia; a brother, Odell Martin of Greenwood; a sister, Bertha Mae Jones of Greenwood; and three grandchildren. The family is at the home. Services will be announced by Robinson & Son Mortuary Inc. Online condolences may be sent to the family at robson@emeraldis.com

Alvin P. Scott Sr.

LUGOFF — Alvin Perry Scott Sr., 77, retired Army specialist first class, died Monday, March 21, 2005.
Born in LaFrance, he was a son of the late Sidney Lee and Argil Dye Scott. He was an Army veteran of World War II and the Korean and Vietnam conflicts.
Survivors include two sons, Alvin Perry Scott Jr. of Columbia and Dennis Michael Scott of Ridgeway; a daughter, Mrs. Richard C. Jr. (Bessie Scott) Copeland of Greenwood; two sisters, Wilma Scott and Juanita Bradberry, both of Greenwood; five grandchildren; and four great-grandchildren.
Graveside services are at noon today at Greenlawn Memorial Park with full military honors.
Memorials may be made to Disabled American Veterans, National Service Foundation, P.O. Box 14301, Cincinnati, Ohio, 45250.
Shives Funeral Home, Columbia, is in charge.

Arbutus W. Sneed

WATERLOO — Arbutus Wood Sneed, 83, of 12477 Neely Ferry Road, widow of Sammie Ray Sneed, died Monday, March 21, 2005 at Laurens County Hospital.
Born in Spartanburg, she was a daughter of the late Joe H. and Grace Painter Wood. She retired from Parke Davis in Greenwood and was a member of Arkwright Baptist Church, Spartanburg, and the Gold Star Mothers.
Survivors include two sons, Rodger Sneed of Laredo, Texas and Jerry Sneed Sr. of Waterloo; two brothers, Thurman Wood and Quenton Wood, both of Spartanburg; two sisters, Valaree Cudd of Spartanburg and Elsie Bishop of Laurens; three grandchildren; and eight great-grandchildren.
Graveside services are 2 p.m. Thursday at New Prospect Baptist Church Cemetery, conducted by the Rev. John Huckaby.
Visitation is 7-8:30 tonight at Kennedy Mortuary, Laurens.
Family members are at their respective homes.
Memorials may be made to Waterloo Fire Department, P.O. Box 1, Waterloo, SC 29384.
The Kennedy Mortuary is in charge.

Eleanor L. Spearman

CHARLOTTE, N.C. — Eleanor L. Spearman died Monday, March 21, 2005 at her home.
A daughter of the late Rev. Benjamin and Geneva Bailey Spearman, she was a member of Allen Chapel A.M.E. Church, Abbeville County.
Survivors include two sons, James D. of the home and Kenneth “Toobo” Spearman of Charlotte; and a brother, Simon Levi of Michigan.
Services will be in Charlotte.
Announcement courtesy of Robinson & Son Mortuary Inc., Greenwood.

Elijah ‘Nuke’ Williams

Services for Elijah “Nuke” Williams, of 314 Windmill Circle, are 1 p.m. Friday at Robinson & Son Mortuary, conducted by the Rev. William Booker Jr., assisted by Pastors John L. Brightharp and Patrick Carter. Burial is in Flint Hill Missionary Baptist Church Cemetery.
Pallbearers are nephews and cousins.
Flower bearers nieces and cousins.
Visitation is Thursday evening at the home.
Robinson & Son Mortuary Inc. is in charge.
Online condolences may be sent to the family at robson@emeraldis.com