Alan Doyon: Voting John Sununu for US Senate and residents should too

To The Daily Sun,

Recently, Randy Hilman wrote in opposition to reelection of John Sununu for his support to change Social Security back in 2005.

Social Security must be changed to avoid a possible 20% reduction in benefits or a substantial tax increase. The Social Security Trust Fund is required to invest in U.S. Treasury bonds, which historically yield slightly more than inflation. U.S. treasuries averaged 4% annually for a total gain of 66% over the last 20 years. The S&P 500 Index has averaged an 11% annual investment return, with a cumulative return of 768% over the same period, over 10 times the investment return of U.S. treasuries. The change proposed in 2005 would have only affected people under age 55 at that time, to protect near-term retirees and allow 12+ years of investment to those electing the change. This change would have secured the trust fund to pay out the promised benefits of all near-term retirees and given increased investment benefits to those under age 55. We need people in the U.S. Senate that understand economics and support reasonable changes to the Social Security program to ensure promised or increased benefits, instead of the impending 20% cut, as Social Security goes bankrupt.

The Social Security Trust Fund should invest directly into the S&P 500 Index instead of only U.S. treasuries. This simple change could increase investment gains for the fund without the risk of individual accounts, reduce complexity, costs, and risk to any individual, while securing existing and possibly increased benefits without tax increases. John Sununu is more likely to support such a plan than Chris Pappas, who has only voted in lock-step with Democrat leadership who has publicly said no changes to Social Security.

Please vote John Sununu for U.S. Senate to secure the future.

Alan Doyon

Meredith