Monday marks the 65th anniversary of the issuance of the first Social Security check, the fulfillment of our nation's promise that if you work hard and follow the rules you will be rewarded for your lifetime of work with a secure retirement. Since 1935, every American worker has paid into Social Security, and each and every American deserves the benefits that they were promised.

Unfortunately, Social Security and the benefits that American workers have earned are under attack. The President has placed the privatization of Social Security at the forefront of his agenda. This privatization plan will cut guaranteed benefits by as much as 50 percent, even for those who don't open a private account. That means that the average retiree would lose $134,000 in guaranteed benefits over their lifetime.

The Administration's privatization plan also calls for borrowing nearly $2 trillion. With this Administration already running record-high deficits, this risky plan would saddle our children and grandchildren with an unforgivable burden of debt.

We know that Social Security will face stress and strain in the future because of this Administration's reckless budget policies and the retirement of 77 million Baby Boomers. But the President's privatization plan does nothing to save Social Security. Instead, it makes the problem worse!

Experts and economists tell us that Social Security is solvent for at least another 50 years. I am willing to work in good faith with the President and Republicans and Democrats in Congress to correct Social Security's problem. But the scare tactics and partisan maneuvering have gotten this process off to a bad start. The President needs to go back to the drawing board and craft a truly bipartisan plan to save Social Security.

All North Carolinians need to read the fine print on President Bush's plan to privatize Social Security. Protecting the promises of Social Security is important to every worker, to every generation, to every family.

| About Bob Etheridge | Constituent Services | Contact Bob | Email Bob | Home |

| Just for Children | Legislative Issues | Press Room | The 2nd District | Visit Washington |

Privacy Policy