(I
MONDAY, MAY 27, 1S63
MEDFORD MAIL TRIBUNE. MEDFORD, OREGON
Dennis the Menace
...M'trmiA07:M'ML i com see was SM!P...fiu'r
UP AWH....M' C4Cr&SM :...
Your Money's
Worth
By SYLVIA PORTER
Copyright, Hall Syndicate, Inc.
SOCIAL SECURITY SYSTEM COMING OUT OF RED
, Tor the fifth year out of the past six, the Social Security
trust fund will close this fiscal year in the red - will have
by June 30 paid out more in benefits and for administrative
expenses than it will have collected from taxes and interest
on its investments.
The giant Social Security System, to which 75 million of
us are now contributing, had a reserve fund ol $23 billion
at the end of the 1957 fiscal year. Then the drain began, in
terrupted only by a tiny increase in 1961. The reserve fund
is now under $18 billion.
In fiscal 1962, for instance, the fund (official title "Old
Age and Survivors Insurance Trust Fund" or OASI) received
$11,985 billion from our contributions and interests on invest
ments. It disbursed $13,259 billion for benefits, administra
tive expenses and transfers. The net loss was almost $1.3 bil
lion. An official estimate earlier this year put the 1903 net
loss at over $700 million.
Does this record of red Ink mean that our Sociul Security
System is, as many critics suggest, financially unuuml? No!
The program is sound If total benefits to be paid plus
administrative expenses can reasonably be expected to equal,
over the long run, Income from social security taxes and
interest earned on trust fund investments. By this definition
the program is sound.
Authorltatlv estimate indicate that the years of red
Ink for the OASI lund will end with this one. Beginning
in fiscal 1964 the trustees of the fund estimate the fund
will go back into the black, and they proct that during
the next lour fiscal years the fund's Income will top its
outgo by a comfortable margin of more than $3.1 billion.
The fund will go Into the black again despite the fact (hut
benefit payments will be mounting sharply from $13.8 billion
this year to almost $16.7 billion In fiscal 1967. Benefits have
been extended and the number of beneficiaries under the pro
gram is constantly rising.
It will go into the black because the number of us paying
taxes will Increase from 75 million now to around 80.6 mil
lion In 1967, our taxable earnings will be climbing too and
social security tax rates also are slated to go up.
Tlie part of the program which will continue in the red
Is the comparatively small Disability Insurance Trust Fund.
This deficit can be easily taken care of by allocating to this
fund a minor part of the next increase In social security
taxes, now scheduled for 1966.
The significant point is that every study concludes that
the Social Security system is In close actuarial balance. As
Its board of trustees put it to Congress In Us 23rd annual
report this winter, "The system will have sufficient Income
from contributions (based on the tax schedule now in the
law) ajid from interest earned on Investments to meet benefit
payments and administrative expenses Indefinitely into the
long-range future."
The trustees of the Social Security funds are Secre
tary of the Treasury Dillon, Secretary of Labor Wirts,
Secretary of Heelth, Education and Welfare Celobreiso
and Commissioner of Social Security Ball - men who
would hardly lend their names to a whitewash job.
Equally reassuring was a report issued in January 1059
by the "Advisory Council on Social Security Fnanclng," a
group of the nation's most distinguished actuaries, econo
mists, bankers and businessmen - all outside the government.
This was at the time when the old agc fund was sinking
deeply into the red and alarm was widespread.
As "The Major Finding," the Advisory Council reported,
"The method of financing the old-age, survivors and disability
Insurance program is sound, and, based on the best estimates
available, the contribution schedule now in the law makes
adequate provisions for meeting both short-range and long
range costs."
As long as either fund remains in the red, scare rumors
will circulate about Hie financial unsoundness of the system.
The rumors are false. As long as Congress continues to raise
benefits and taxes under the system, scare rumors will circu
late that the system must collapse. These rumors also are
false.
Lamb, Pennington Introduced as Top Ashland Students
Ashland - Jim Lamb and
Craig Pennington have spent
four years in ncck-and-neck
friendly competition as class
mates at Ashland High school
so it was no surprise when
they were Introduced at the
annual awards assembly last
week as valedictorian and sal
utatorian of the 1963 gradu
ating class.
Lamb, son of Mr. and Mrs.
R. Drew Lamb, 634 Iowa St.,
has an impressive record
which has earned for him a
Stanford university scholar
ship. He won the outstanding
English student award and
the Bauoch and Lomb honor
ary science award. lie attend
ed the Junior Engineers and
Scientists Institute at Oregon
State university; was a can
didate for the American Field
Service foreign exchange pro
gram; won Time magazine
current affairs contest, and
placed second in the Elks
scholarship contest.
Lamb earned first place tie
ill the Future Engineers of
America Mathematics contest
and when a junior placed
third in the Mathematics As
sociation of America compe
tition and the next year tied
for second place. He has been
a member and officer of the
National Honor Society.
Starred in Basketball
In addition to his scholastic
achievements young Lamb has
starred in both varsity bas
ketball and track. He has
been a member of the school
band and the dance band as
well as the city band and for
four summers attended the
Siskiyou Band Camp.
He has been active in for
ensics, having been a member
of the debate team. He was
a member of the Interclub
Council, a member of the Let
tcrmcn's club, the Humanities
Seminar and the Able and
Gifted classes.
Pennington, the oldest son
of Dr. and Mrs. Lloyd Pen
nington. 932 Walker ave., also
won a Stanford scholarship;
He served as junior class
president; sophomore class
vice president; was Ameri
cans Abroad finalist; was stu
dent representative on the
American Field Service com
mittee; has served on junior
and senior play staffs and
been a member of the debate
club, the National Honor So
ciety, the Humanities Semi
nar, and the Able and Gifted
classes.
Pennington tied for first
place in the Future Engineers
of America Mathematics con
test; placed second in debate
at the Marshficld Invitational
tournament; won first place in
the Elks leadership and schol
arship contests and was sec
ond place winner In the Time
magazine current affairs con
test. He took first locally in
the Mathematics Association
of America competition. Mem
bership in the Chess and Sci
ence clubs are among some of
his other activities.
Wins Math Award
At the assembly, anounce
ment was made that Penning
ton had won the year's math
ematics award, and Lamb had
been named the outstanding
science student. Dianne Wil
liams and Tim Thompson won
the chemistry awards.
Students were given recog
nition for scholarship, serv
ice club work, music and ath
letic honors ani pw student
body officers were inducted
ih mmiiiff vear. Succeed
ing Mike Cotton as. student
body president is Connie Fell
ger. Twenty-three members of
the 1963 graduating class have
received college scholarships.
They are Lonna Baize, Carol
Bjork, Linda Bowen, Billie
Collins, Sandra Hamilton,
Carolyn Harmon, Alice Hcam,
Jane Hennick, Charles Hille
stad, Carol Ann James, Jim
Lamb, Kay Lamica, Barbara
Lawrence, Greg Lindley, Bet
tv Marton. Carol Mattey, Kay
Moore, Annette Munson, Craig
rennington, Paula prescou,
Sharon Roderick, Steve Watts
and Mary Paul Workman.
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MEDFORD MAIL TRIBUNE. MEDFORD, OREGON
MONDAY, MAY 27. K61
Today's practice of tipping
lair with gold or silver ac
cents is an ancient art. Baby
lonian kings sprinkled their
beards and heads with gold
particles.
Robertson School of Business
40 No. Riverside 773-4264
classes begin July 8 or Sept. 30
'awaits
I YOU!
So you graduate in June!
What then? Did you know
that over 1 ,000,000 young
men and women cannot get
employment? The Secretary
of Labor calls it an "emerg
ency crisis" for the young.
The "educationally handi
capped" are hardest hit. If
you have an ability which em
ployers want, you will avoid
the preb'em.
A job awaits y.u if you
become a Secretary, Account
ant, Stenographer, or Junior
Executive. Training takes 2
years or less.
Write now for full informa
tion. Don't join the jobless in
June and don't settle for a
job with no future.
Bucket Brigade
Douses EP Fire
Eagle Point Fire broke
out in a residence across the
street from Hal's Sporting
Goods store on Highway 62
near the Junction with High
way 234 Saturday morning.
Residents formed a bucket
brigade and had the fire out
before firemen arrived, how
ever. A truck from the Cen
tral Point rural fire district
responded on a mutual aid
call from the State Forestry
department.
Damage was confined to
part of one wall and the ceil
ing of the residence.
THE WEEK IN CALIFORNIA
A 7
Brown Discusses No Tax1 Plan With Republican Legislators
By United Press International
Gov. Edmund O. Brown
and Republican leg is 1 a t o r s
were nose to - nose over
Brown's plan to balance the
1963-64 budget by speeding
up tax collections and so far
no one was blinking.
Brown revealed he had
called two Republican leaders
into his office late last week
to discuss his "no tax'1 plan,
later released a sharply word
ed statement in which he said
he would not be "blackmail
ed" into raising taxes.
Brown's tax plan, he has
said, must pass the legislature
or new taxes would be need
ed. Brown disclosed also that
he had hosted a group of Re
publican Assemblymen in the
Governor's mansion Wednes
day, the night before the GOP
caucus in the lower house
took an unflinching stand
against his tax plan.
Adopt Resolution
The caucus adopted a reso
lution stating the party's "un
alterable opposition to any
withholding tax program re
gardless of 'forgiveness' and
commits Assembly R e publi
cans to vote against the bud
get until the Governor's with
holding proposal is defeated,
or if already passed, until it is
vetoed or revealed."
Republicans Charles J. Con
rad, Sherman Oaks, the mi
nority .floor leader in the As
sembly, and GOP caucus
chairman Don Mulford, Pied
mont, said "the charge of
'blackmail' by the Governor
is ridiculous," and added, "we
categorically reject any thinly
veiled attempt by the Gover
nor to transfer the responsi
bility for new taxes next year
on the Republican party,
which has been fighting with
a small minority in both
houses, to stop this wholesafc
.spending program."
The Republicans stood their
ground in the Assembly but
their lack of numbers gave
Brown a victory in its first
lower house test when a bill
was approved to accelerate
collection of gross insurance
premium taxes. It was a
straight party-line vote, 43
Democrats for, 17 Republicans
against.
Elsewhere, there were these
developments:
Cen.or.hipi Dr. Max Raffer
ty got into the fight over the
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"Dictionary of American
Slang," which has been
charged with being obscene
by at least one Assemblyman,
whose efforts to obtain a copy
from a high school library
caused an uproar recently.
Rafferty said, "a little bit
of censorship" might be neces
sary on California's school li
brary shelves. He said he was
referring to the controversial
dictionary, which he said
should have been entitled
"Dictionary of American
Slang and Obscenity," and
"Tropic of Cancer" and "La
dy Chalterly's Lover." He said
he would suggest next fall
that these be removed from
school shelves.
Rafferty's "little bit of cen
sorship" statement prompted
Assembly Speaker Jesse M.
Unruh (D-Los Angeles) to
comment: "a little bit of cen
sorship is like being a little
bit pregnant, I don't know if
Its possible. I'm not greatly
concerned with the book (Dic
tionary of American Slang)
except that I wonder if this
will be the last one or only
the first that Rafferty will at
tack." Arrest: The arrest of the Ar
gentine Consul by a San Fran
cisco traffic cop - he refused
to sign a ticket for running a
stop sign - caused an uproar
in local diplomatic circles.
The Dean of the San Fran
cisco Consular Corps, Vene
zuelan consul general Fernan-
Lopez Contreras, said "this
is not the first incident."
He said the corps would
have to sit down with police
and draft a set of regulations
governing their relations.
The policeman pulled his gun
on consul D. Jorge Diego
Avellaneda when Avcllaneda
presented his diplomatic iden
tification as his reason for re
fusing to sign the ticket. After
his arrest, he decided to sign
the ticket. Contreras said sign
ed treaties prohibited the con
suls from appearing in any
court except on a felony.
Union: The California Su
preme Court overturned a
long-held rule and gave in
corporated unions the right to
sue for damages. The court
said unions should be permit
ted to file suits because recent
cases made It possible for
unions themselves to be sued.
The court said old rules re
flected "an age when a labor
union occupied a doubtful le
gal status" but that now "the
trade union has grown from
the early loose craft union
into an institution compara
ble to a corporation or public
utility." The decision cleared
the way for a building serv
ice union to tile a $30,000 li
bel suit against the Sanitar
ium Association of California,
Inc., Los Angeles.
Insurance Two California
insurance companies, whose
chief executive officer is
former Gov, Goodwin J.
Knight, were sold last week
because of financial difficul
ties of an Illinois insurance
firm. But California Insur
ance Commissioner F. Britton
McConnell said the two Cali
fornia companies were in sol
vent condition, and that the
financial difficulties of the
Illinois firm did not affect the
two firms, Cosmopolitan Life
Insurance Co., and Cosmo
politan Insurance Exchange.
Knight was retained as
chief executive officer in the
sale, which was made by a
holding company of the Illi
nois firm in the interest of
stockholders of the Illinois
firm.
Promt President Kennedy
offered to postpone a $1,000-a-plate
Democratic fund rais
ing dinner so students of John
Burroughs High school in
Burbank could hold their
long-awaited junior prom. It
was discovered that both
State Democrats and the stu
dents had rented the sarr.2
banquet room in the Hilton
hotel in Los Angeles for the
night of June 7. The matter
came up at Kennedy's press
conference.
After top level Juggling of
arrangements, both events
were scheduled to go ahead
as planned. The students will
have their prom, as scheduled,
in the Grand Ballroom and
the President will have dinner
in one of two other ballrooms
rented by Democrats.
Subscribers
To report Improper or non- '
delivery of the Mall Tribune in (
Med ford, phone 772-8141; Ah- .
land call at 416 Bridge it. or
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dally and 10:30 a.m. Sunday.
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hortly after you call please I
notify office, thui eliminating I
peclal mesienger Bervice.
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