Protecting Social Security
Social Security is based on the contributions of millions of workers in order to ensure that every American can achieve retirement security. We want to save, strengthen, and secure Social Security for the future. We have to address the challenges facing the program, to make sure that every American worker gets the benefits they paid for. But we can encourage private savings without cutting the Social Security benefits that Americans have earned through years of hard work.
The Republican privatization proposal hurts everyone, including today's beneficiaries. It undermines retirement security for all Americans by cutting guaranteed benefits by more than 40 percent, and risky private accounts won't make up the loss in benefits for millions of Americans. And the Republican plan to establish private accounts requires borrowing more than $2 trillion from foreign countries. Social Security needs a solid source of funding, not a plan that makes the problem worse by draining trillions of dollars from the Trust Fund. Under the Republican proposal, Social Security does not get stronger - it gets weaker.
Learn more about Social Security.
What's Happening in Congress
“ Instead of leadership on the challenges facing Social Security, we have seen the Administration hyping a crisis without advancing a proposal. The President needs to reveal his plan now. No more catch-phrases, no more ideology – let’s put the numbers on the blackboard and see if they add up.”
- Rep. Earl Pomeroy (D-ND)
House Democrats mourn the passing of Social Security champion, Congressman Matsui. Read more.
Click here to read the letter House Democratic Leader Nancy Pelosi and 35 women Members of Congress sent to President Bush to express their concern that women would be disproportionately hurt by privatizing Social Security.
Read House Democratic Whip Steny H. Hoyer's statement in response to remarks by Office of Management and Budget Director Josh Bolten to the U.S. Chamber of Commerce.
Read Rep. Sander Levin's comments in response to Vice President Dick Cheney's speech at Catholic University.
Click here to learn more about the Subcommittee on Social Security.
Hear What Others Have to Say
Read articles and opinions from newspapers across the country:
As White House Begins Social Security Push, Critics Claim Exaggeration
New York Times
Democrat Disputes Social Security 'Crisis'
Yahoo! News
"Bush Faces a Fight Over Social Security"
Sacramento Bee
"Social Security Could Use a Tweak, Not Major Change"
Tribune Chronicle
"A Big Push On Social Security, Private Accounts Are Bush Priority"
Washington Post |
The Facts
>> Without any changes to the current system, Social Security will have the resources to pay 100 percent of benefits for almost 50 years.
>> Social Security provides a majority of income for 6 in 10 retirees.
>> Over 95 percent of all workers are covered by Social Security.
>> 15 percent of Social Security beneficiaries are disabled workers.
More facts and resources >>>
The Latest
>> A memo from the White House acknowledges Social Security privatization would cost up to $2 trillion and recommends cuts in Social Security benefits to offset the cost of the plan. Read the memo.
>> See what would happen to seniors in your state if the Republican plan to cut Social Security benefits was in effect today.
Don't Just Take Our Word for It
See what other groups are saying about the Administration's Social Security proposal:
>> Watch the National Committee to Preserve Social Security and Medicare's 60-second commentary on the latest Social Security news.
>> Learn more from Campaign for America's Future on how Social Security impacts young people.
>> Take the AFL-CIO's quiz to see how well you know the facts.
>> Read more from the Alliance on Retired Americans about why social security is not just a senior issue.
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