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    FOR IMMEDIATE RELEASE:
    March 23, 2005

    CONTACT:
     Pamela Causey 202-216-8378/202-236-2123
    Ouida Williams 202-216-8405

    ~ 4 Million Seniors ~ One Voice ~No Privatization ~

    “ Once again, the Social Security Trustees Annual Report fails to deliver what the Administration has been desperately seeking - a crisis. Social Security isn't going broke. What we have is a long-term demographic gap that we should all work on together to strengthen the traditional program.” - - Barbara B. Kennelly

    Former U.S. Congresswoman and President and CEO of the National Committee to Preserve Social Security and Medicare comments on the 2005 Social Security Trustees Report

     “ The Administration has a track record of using dire language to forecast Social Security's future, even when the numbers don't match the rhetoric.  No where in this latest Trustees report can we find any actuarial evidence to support the deliberate attempt to dismantle Social Security with privatization.

    This year's outlook has not been altered dramatically based upon this latest Trustees report. Social Security is not going broke and will be financially stable for decades.  Monthly checks will continue to be delivered. Cash flow remains positive through 2017, and the Social Security Trust Fund will be able to pay full benefits through 2041. After that point, the Trustees report that 74% of the guaranteed benefits will still be paid. Finding a solution for the projected 26% funding gap is more realistic than borrowing huge amounts of money to establish risky private accounts.

    The Administration may have started a national conversation on the future of Social Security, but many Americans have not accepted private accounts as an option to solvency. They understand that private accounts will increase the deficit and cut benefits.

    Click here to learn more about the National Committee's Analysis of the
    2005 Social Security Trustees Report

    The National Committee, a nonprofit, nonpartisan organization acts in the interests of its membership through advocacy, education, services, grassroots efforts and the leadership of the Board of Directors and professional staff. The work of the National Committee is directed toward developing better-informed citizens and voters.