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    FOR IMMEDIATE RELEASE:
    September 23, 2005

    CONTACT:
     Pamela Causey 202-216-8378/202-236-2123
    Kim Wright 202-216-8414

    ~ 4 Million Seniors ~ One Voice ~No Privatization ~

    Latest Social Security legislation benefits the privatizers, not seniors

    “Some members of Congress are still looking for a way to sell private accounts to an American public that clearly isn't buying. American seniors don't oppose private accounts just because of how they will affect them personally. They know private accounts weaken the program for their children and grandchildren too. This bill does not change that fact.”
    -- Barbara B. Kennelly, President and CEO

    S. 1750, recently introduced by Senator Rick Santorum, instructs the Treasury Department to provide a written guarantee to individuals born before 1950 promising they will receive their full amount of Social Security benefits. Privatizers are hoping this bill will “resolve uncertainty” among seniors, who are opposed to private accounts by a large margin.  However, current law already guarantees that anyone who has paid into Social Security will receive benefits. Additionally, this bill does nothing to prevent benefit cuts for those born before 1950, as Congress could change the law at any time.

    “This new legislation also doesn't change the fact that private accounts ultimately weaken Social Security by taking money out of the program, causing deep benefit cuts and massive debt”, Mrs. Kennelly stated. 

    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.