News Release

Social Security Commission Report Proves That Bush Privatization Goals Entail Deep Benefit Cuts And Unacceptable Risks

CRITICS SAY FINAL REPORT OF SOCIAL SECURITY COMMISSION PROVES THERE IS NO WAY TO ACHIEVE BUSH PRIVATIZATION GOALS WITHOUT DEEP BENEFIT CUTS AND UNACCEPTABLE RISKS TO RETIREES.

Rep. Matsui, experts and advocates to hold press conference on day Bush Commission plans to vote on final report: Tuesday December 11

LUNCH PROVIDED TO REPORTERS – after Commission press conference
*1:45 - 2:30 PM in Green Room, Park Hyatt Washington Hotel

WASHINGTON, DC – On Tuesday December 11, critics of President Bush's Commission to privatize Social Security will hold a 1:45 PM press conference (following the Commission's press conference). Speakers – including Congressman Robert Matsui, ranking member of the Social Security Subcommittee – will greet the final report of the Bush Social Security Commission, expected to be voted on earlier in the day, with a warning to the American people: The Commission's report demonstrates that it is impossible to achieve President Bush's privatization goals without major cuts in guaranteed benefits and other unpopular and painful changes to Social Security.

Congressman Matsui and the other speakers will show that each one of the three privatization plans to be voted on by the Commission entails big benefit cuts and greater insecurity for most retirees and future retirees. Other speakers will include Brookings Institution economist Peter Orszag, and leaders of important organizations concerned about Social Security.

Speakers will include:

Roger Hickey, Institute for America's Future, who will moderate the press conference

Congressman Robert Matsui, (D-CA), Ranking Member of the Social Security Subcommittee

Peter Orszag, The Brookings Institution

Martha Burk, National Council of Women's Organizations

William Spriggs, National Urban League

Max Richtman, National Committee to Preserve Social Security and Medicare

* The IAF press conference will directly follow commission activities.

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