| ======================
CHN Social Security Update
====================== Tell Congress: Privatization STILL Won't Work!
Next week, some members of Congress will use the July 4th recess to peddle a plan proposed recently by Senator DeMint and a similar plan presented by Rep. McCrery that would create private accounts funded by the surplus taxes that will be paid into the Social Security system for the next 11 years. This might sound like a new type of plan for Social Security -- but it's STILL privatization. Still weakens Social Security by siphoning money out of it.
The surplus taxes being paid into Social Security over the next 11 years are not just free money -- they are dollars that are already committed to fund Social Security benefits in later years when the baby-boomers retire. The DeMint and McCrery plans don't improve solvency but actually siphon $1.1 trillion out of the Social Security trust funds over the first ten years (and $1.7 trillion over the first twenty years). Still cuts guaranteed benefits.
This is still the same old privatization: Your guaranteed Social Security benefits get cut , and in return you get a risky private account that may or may not pay out as well as you hope. Still increases the budget deficits and the national debt.
Because the Social Security trust funds would not be adequately compensated for the money taken out and because the difference would have to be made up with general revenues, federal budget deficits would increase drastically. The plan would increase the budget deficit by $89 billion in 2006 alone, and that's just the first year it's in effect. Still not popular in Middle-America.
A new poll shows that even in the rural states where George W. Bush won by large margins, Americans are vastly opposed to any plan that privatizes any part of Social Security. Tell Congress: You're STILL not impressed.
Click here to send a letter to your Representative and Senators urging them to oppose the DeMint-McCrery plans. => Back to Social Security Main Page | 
