The Facts

The Perils of Privatization

Social Security Privatization Cuts Lifetime Benefits; Makes Senior Citizens Vulnerable to Poverty

By Eric Lotke
Institute for America's Future
August 04th, 2008
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Conservatives are trying to resurrect an idea to radically change Social Security that has already been soundly rejected by the American people—privatization. A new series of Institute for America's Future reports finds that if privatization proponents succeed, 8.6 million senior citizens would lose a safety net that keeps them from falling into poverty. more »

Bush Privatization Plan Would Devastate State Economies

By Institute for America’s Future
April 14th, 2005
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Because Social Security is such an important part of the economic well-being of older Americans, the benefit cuts included in the president's privatization plan would increase senior poverty dramatically. A new generation of poor seniors would place unprecedented demands on already stretched state budgets — squeezing out funds for top state priorities. This would likely lead to higher state taxes to pay the price of providing these new poor seniors with the healthcare, nutrition and housing they can no longer afford themselves. more »

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Less than half of workers participate in a retirement plan

Submitted by a b
July 17, 2008

Only a fraction of workers who participate in a retirement plan have access to a traditional kind of pension that guarantees income in retirement

Source
Economic Policy Institute. "Retirement Security Issue Guide." September 2006. Economic Policy Institute. 17 July 2008 http://www.epi.org/content.cfm/issueguides_retirement_facts
Natalene Ong's picture

Without Social Security, more than 35 percent of Americans aged 65 and older would be living in poverty

Submitted by a b
July 17, 2008

Without Social Security, more than 35 percent of Americans aged 65 and older would be living in poverty

Source
Shelton, Alison. "Social Security." June 2007. AARP. 17 July 2008 http://www.aarp.org/research/socialsecurity/general/dd159_ss.html

Quotes From Behind The Conservative Wrecking Ball

By Eric Hunt
June 29, 2011

Rep. Michele Bachmann

  • "I have no intention of voting to raise the debt ceiling because, right now, the federal government continues to spend more money than what it takes in."

    • more »

Barack Obama’s Statements on Social Security

By Isaiah J. Poole
January 12, 2011

The following are key statements made by Barack Obama as president and prior to his presidency about Social Security.

more »


Source
"Finding Common Ground On Our Fiscal Future." America Speaks. July 27, 2010. Page 28. (An earlier report incorrectly reported that 52 percent of respondents supported raising the retirement age.)

45% of Americans believe Social Security is extremely important, and 35% believe it is very important.

Source
The National Journal. “2007 Issue Polltrack: Social Security.”

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