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Congressman John T. Salazar -- Defending Rural Values -- Third District of Colorado
  For immediate release  
  April 5, 2005  
 

Congressman Salazar Praises State Senate's Stand Against Social Security Benefit Cuts

 
 

Salazar Urges Colorado Legislature to Oppose Social Security Privatization

WASHINGTON, DC — Congressman John T. Salazar (CO-3) today praised the Colorado State Senate for introducing a resolution to oppose the privatization of Social Security. Salazar has led the effort in Congress to protect the Social Security trust fund, introducing legislation - the Social Security Trust Fund Protection Act - to prevent Social Security money from being used to pay down the debt or to create private accounts.  The text of Salazar's statement follows:

"I commend Senator Hagedorn for introducing this important memorial. Thank you Senators Hagedorn and Fitz-Gerald for your leadership on this timely issue. For the residents of Colorado, we must stand firm in our opposition to efforts to privatize Social Security.

"Social Security has successfully kept millions of seniors from falling into poverty at retirement. Putting Social Security trust fund dollars into private accounts will force deep cuts to Social Security's guaranteed benefits. Privatization will drain trillions of dollars from the trust fund and only hasten the demise of Social Security.

"Deep cuts to guaranteed benefits and massive new government borrowing will mean that the obligation of supporting retirees will increasingly fall on the shoulders of state and local governments.

"I recently introduced legislation that would make sure that Social Security payroll contributions are used only for paying out Social Security benefits - not for creating private accounts.

"I hope that the Colorado legislature will voice their opposition to privatization of the Social Security system. Again, I applaud the leadership of Senators Hagedorn and Fitz-Gerald and look forward to hearing the views of the Colorado Legislature."

 

 
 

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