06.03.05 City Club: Social Security Reform: The Debate

Social Security Reform: The
Debate

Congressman Sherrod Brown
and former Congressman Tim Penny to debate at The City Club of
Cleveland

CLEVELAND, OH—Congressman Sherrod Brown of Ohio’s
13th District and former Congressman Tim Penny, co-director of the
Humphrey Institute Policy Forum at the University of Minnesota, will debate the
issue of Social Security reform at noon on Friday, June 3, 2005, at The City Club of
Cleveland.

Although both believe that reform is
needed to preserve Social Security for future generations, each comes to the
debate with different ideas on how to ensure long-term solutions.

Tim Penny believes that the only way
we can meet the financial demands put on the system by soon-to-retire baby
boomers is for policymakers to put all ideas on the table for debate and show
flexibility in finding workable solutions, including the creation of
private accounts.

Sherrod Brown, on the other hand,
feels that privatization of social security benefits that divert future revenues
from the Trust Fund to the stock market would undermine the traditional Social
Security program, removing a vital safety net for many
Americans.

Brown, a leading progressive voice
in Congress, is a ranking member on the Energy and Commerce Health Subcommittee.
While representing Minnesota in the U.S. House of
Representatives, Penny sat on the agriculture and veterans affairs committees,
founded the Democratic Budget Group and drafted deficit-cutting initiatives,
including the Penny-Kasich Amendment.

“Although there is general agreement
that Social Security needs reform, many feel it is a dangerous issue politically
(the third rail), and much of the disagreement centers on this idea of private
accounts,� says City Club executive director James Foster. “We look forward to a
lively and informative debate.�

Tickets for this City Club Friday
Forum are $15 for members and $25 for non-members. Lunch is included.
Reservations are required within 24 hours of the event. They can be purchased by
calling The City Club at 216.621.0082 or visiting the website at
www.cityclub.org.

Established in 1912 to encourage new
ideas and a free exchange of thought, The City Club of Cleveland is the oldest
continuous free speech forum in the country, renowned for its tradition of
debate and discussion. The City Club’s mission is to inform, educate and inspire
citizens by presenting significant ideas and providing opportunities for
dialogue in a collegial setting.

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