Congressman Salazar: New Trustees Report Says Social Security Not in Crisis

Privatization is the Real Threat Facing Social Security

WASHINGTON, DC - Congressman John T. Salazar (CO-3) today responded to the release of the annual Social Security Trustees Report, which states that Social Security will be able to pay full benefits to American workers through 2041.

“The Trustees Report states that Social Security will pay full retirement, disability, and survivor’s benefits through 2041, and still pay 74 percent of benefits after that.  Social Security is still secure for the millions of Americans who rely on its benefits.

“We have time to work in a bipartisan way to strengthen and improve Social Security – as we did in 1983 with Speaker O’Neill and President Reagan putting together a compromise that put Social Security on solid footing for 70 years.

“The real threat that Social Security faces is the plan to privatize the program and cut benefits by more than 40 percent. Privatizing Social Security now will drain trillions of dollars away from Social Security trust fund and only increase the debt.

“Social Security keeps thousands of rural Coloradoans out of poverty. Our goal should be to keep ‘security’ in Social Security, not gambling away guaranteed benefits.”

Salazar is noted for his willingness to work across the aisle to reach common sense solutions. Salazar offered legislation last week- H.R. 1330: The Social Security Trust Funds Protection Act - to make sure that Social Security payroll contributions are used only for paying out Social Security benefits.