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24 — THE HERALD, Thurs., March 26, IM1 Business 'A Finance Your Money's Worth Social Security — cuts are not the only solution 3^.^rvinghe the Greater HtfraUl Manchester Area for 100 Years By S4 I.M A I'ORTKB tied to our Consumer Price Index. ment of retirement and survivors Even at the most critical future headlines. There is absolutely no basis for revenues in 1984-85. Authority to • Simultaneously, -our dragging benefits (the major share of benefit point —2035— the ratio of working The most recent Social Security ManchMter, Conn. Friday March 27, 1981 25 Cents anyone to panic over the short-term economy with its reduced payrolls draw on general revenues was in outgo). people to dependents will be lower Advisory Council recommended that financing problem our Social Securi and reduced overtime has cut the fact included in the Social Security Solvency is not the problem for the than in 1965 and 1970. one more uptick be added to the ty system will face between now and revenues to the program. law for a time — from 1944 to 1950. Old Age and Survivors Insurance Nevertheless, the threats and the Social Security tax schedule, to take 1985 — and uninformed talk about Just study a few figures and the The other terrifying threat Trust Fund! What is troubling objec rumors are undermining confidence the program "going bankrupt" is picture will come clear. whispered around our land is that effect in 2010. That step may not be tive experts is a temporary shortage in Social Security among young and needed at that time. But in the vicious rubbish. In the fiscal year ending next Sept. Social Security may be overwhelmed of cash on hand between the end of when the Baby Boom generation old. Various pro|wsals to cut back on meantime, it would ease the nagging This is straight. And it's im 30. combined disbursements for this year and the date at which the reaches retirement age and must be the system’s benefits merely add to worries about the underfinancing of perative that this be understood not retirement, survivors and disability Reagan keeping tax hike scheduled for 1985 begins to only by the one out of every seven supported by a work force that is dis the fears. President Reagan’s the program — as would financing benefits, plus hospital insurance produce more revenue. reassurances that there will be no Americans already on the benefit proportionately small as a result of half of the Hospital Insurance payments under Medicare will come What’s the simplest answer’ That cutbacks are welcomed — but not y rolls but also by the other 115 million to $172 billion. Income from SS taxes falling birth rates. program out of general revenues in would be authorization to borrow But forecasting a financial “fact” really believed. stead of entirely out of an ear of us working and paying Social in the same period are estimated at from the other two funds. And if Security taxes. $170 billion. 50 or more years ahead is chancy at Obviously, SS cuts are by no marked portion of the Social Securi economic conditions do pick up, the best! And, the increase in the means the only answers. Social ty tax as is now the case. Social Security is not the only vic A $2 billion shortfall would be no shifting of some of the Disability In tim of double-digit inflation and a number of elderly Americans will be Security is not on the verge of Copyright 1981, Field Enterprises eyes on Poland problem, with a huge $39 billion in surance Trust Fund reserves to the "bankruptcy” and there are many sluggish economy. But it is among reserves in the three Social Security offset by a decrease in the number of Inc Old Age and Survivors Insurance dependent children. alternatives to the solutions in the Field Newspaper Syndicate WASHINGTON (UPI) - President the most visible and certainly the Trust Funds - except that the Trust Fund may be sufficient to as last August, when the Polish union most vital ones. Reagan kept close watch on events in reserves are mainly in the Disability cover all benefit payments for the FRANK AND ERNEST by Bob Thave* Related story on page .T. movement began forming. • The relentlessly steep pace of in and Hospital Insurance Trust Funds. Poland today, and aides said there “The readiness to intervene is next 50 years. As a backup, if the still was "grave concern" in the flation in the U S has been driving Unless Congress votes special economic scenario is not as rosy, the very high, ” one Pentagon source benefit payments higher and higher, authorization (as in 1980), those WieS & HAIRPIECES [P White House despite the peaceful serious concern were "the hardening said. "It would only take a decision borrowing could be supplemented by X ^AlD IT WOuUD e end of a four-hour workers walkout. increasing the payout of SS benefits funds cannot be used for the pay- some limited transfer of general political situation, the economic to do it." White House press secretary Jim situation and the Soviet military Reagan was asked about Poland i>® E v e r y t h i n g t h a t \ Brady said President Reagan and exercises which now may go until after the White House issued a state other officials are continuing to Y o u R o r i g i n a l ,! April 4.” ment warning the Soviets interven * 1 monitor developments in Poland. Officials expressed concern a tion would have a “grave effect” on H A i P D I G -------- ; “What we hear this morning is general strike could lead to a con East-West relations across the sS l that things are tense but calm," frontation between Polish workers board. AND THAT INCLUDED * White House chief of staff James and the government. That, in turn, Asked if he thought the Soviets , , r ' Baker said in a CBS-TV interview could produce the violence that were going to invade Poland, FAL u n g © o r . today. would trigger Soviet intervention, Reagan said "we don’t know, but it’s THev($ 3-m Responding to a question, he said they said. a very tense situation. ” there was still "grave concern.” T i Pentagon analysts said it would The president said there had been White House counselor Edwin take only a simple order by the no contacts with Soviet leaders, but Meese said on NBC-TV the ad Kremlin to get Soviet troops moving. NATO allies were issuing similar ministration has made contingency 'They said the situation is as serious warnings. We’re plans and would take "appropriate MSPUY action” if the Soviets intervene. Changing The administration is not ruling .M O D ELS out any steps, he said. A Soviet inva Our Roor sion of Poland, he said, would be "a MSCOWTED serious threat to world peace and to Judge recesses Models At’ relations” with the West. Great Baker also declined to discuss AT O S A T potential U.S. options, "There are SAVINGS Savings things we can do but it would not be Metheney trial appropriate to speculate,” he said. To You! The National Security Council TO YOU! CLOSED reviewed the Polish situation at the HARTFORD — A federal judge Related stories on page 4. WED. AT 5:00 P.M. White House Thursday and the presi today recessed the trial of an ac dent later termed it “very serious, cused firebomber until Tuesday ( ■ V, very tense.” Another official said, morning, when two final witnesses arson. Hennequin said Metheney To prepare for the Alggost “the situation appears to be falling are'expected to testify in connection answered none of the questions with last October’s firebombing of a asked him concerning his own and Power capacitoi-s such as these surroun apart." used to assure a steady electrical supply for At a State Department reception black family’s home in Manchester. Gilliland’s possible involvement in ding Carole McGraw at General Electric's SPRING CLEARANCE computers, electric furnaces, TV for NATO delegates Thursday night. Charles Norman Metheney, a 19- planning and executing the bombing. plant In Hudson Falls, N.Y., save billions of year-old white youth, has been Defense Attorney Thomas Dennis transmitters and photocopiers. General VISIT Secretary of State Alexander Haig kilowatt-hours of energy each year. told reporters, "The situation is charged by federal prosecutors with referred to a police report detailing Electric is a leading producer of power A crew member from Greater Hartford covering of the cable loosens a bit and has Capacitors are energy storage devices SPECIAL OUR NEW CATV makes a cable repair on a pole on serious and there is a good possibili possession of a destructive device, Metheney’s questioning. No trace of capacitors; it has manufactured them at its to be rewound with a tool made for that pur and intimidating and interfering Metheney’s failure to answer the which — unlike batteries —can be, charged ty of a general strike.” Hudson Falls plant for nearly 40 years. Hillstown Road. Sometimes the outer pose. (Herald photo by Pinto) He said the conditions causing with the civil rights of a Brent Road questions was read aloud in court, or discharged very rapidly. They are widely VIDEOTAPE family. and Assistant U.S. Attorney Richard SAVINGS The all-white federal jury is Palmer said the incident occurred in UBRARY expected to be handed the case a separate interview not mentioned Tuesday afternoon, following closing in the report. Sales tax may go to 8 percent Officer Richard Busick Thursday ON ASK ABOUT arguments by defenseand American businesses gave similar testimony regarding prosecuting attorneys.