| WASHINGTON,
D.C. – U.S. Representative Jan Schakowsky (D-IL) today applauded the National
Council of Women’s Organizations’ campaign against Social Security privatization.
At a news conference on Capitol Hill, Schakowsky joined Assistant to the
Democratic Leader Rosa DeLauro (D-CT) and U.S. Representative Bob Matsui
(D-CA), Ranking member of the Social Security Subcommittee, to warn
against the Bush Administration’s proposal to turn over Social Security
to Wall Street. Schakowsky and her colleagues vowed to protect Social
Security benefits and to ensure the longevity of the most successful social
program in our nation’s history.
Below
is Schakowsky’s statement.
“I
am very pleased to join my colleagues today on behalf of the millions of
Americans who count on us every day to stand in their corner and fight
for the future of Social Security. I am very proud to have this opportunity
to thank the women of the National Council of Women’s Organizations who
are here today, especially Martha Burk, and the more than 150 organizations
they represent, for their tireless campaign against Social Security privatization,
a scheme that will jeopardize guaranteed and inflation proof benefits for
retirees, disabled workers, survivors and dependents.
“Social
Security is safe. Social Security is not broken. Social Security
will be there when I retire, when my children retire, and when my grandchildren
retire. That is a guarantee.
“But
look at what Enron Economics would mean for Social Security. The
Trustees just reported that the Social Security Trust Fund is in better
shape now that it has been in decades – able to pay 100 percent of benefits
through 2041 and, even then, able to deliver 72% of benefits. Enron
employees who were counting on their 401(k)s, on the other hand, are left
with nothing. Does that give the Bush Administration even a moment’s
pause? It doesn’t matter to them that Social Security provides
the only guaranteed retirement income for women (and men), survivors benefits
and disability protection. If privatization helps Wall Street, that’s
what counts.
“President
Bush’s vision for Social Security is to turn it over to Wall Street and
to privatize it. And when we say no way, he blames Democrats for
standing in the way of ‘progress.’
“When
‘progress’ means destroying the Social Security guarantee, we will stand
in your way.
-
Privatization
would drain between $1 trillion and $1.5 trillion from the Trust Fund over
the next decade alone.
-
Privatization
would shorten the life of the Trust Fund.
-
Privatization
would jeopardize benefits to current and future beneficiaries.
-
Privatization
would force workers to work longer in order to maintain benefits.
-
Privatization
would reduce disability and survivor benefits.
“When
‘progress’ means that more women would have to live in poverty, we will
fight you every step of the way. Social Security provides over half of
the total income for the average elderly household. For one-third
of women over age 65, Social Security represents 90 percent of their total
income. Without this program, half of older women would be living
in poverty.
“And
when ‘progress’ means that retirees, disabled workers, survivors and dependents
would be asked to give up benefits so that Wall Street brokers and the
wealthy can get even richer, we will mobilize to stop you.
“When
we organize, we win, and together, we will ensure the future of Social
Security for generations to come.” |
