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Durbin Says Ameircans Will Pay Heavy Price Under Pres. Bush's Scheme to Privatize Social Security

Date: July 11, 2006
Location: Washington, DC
Issues: Senior Citizens Entitlements and the Safety Net


DURBIN SAYS AMERICANS WILL PAY HEAVY PRICE UNDER PRES. BUSH'S SCHEME TO PRIVATIZE SOCIAL SECURITY

Tuesday, July 11, 2006

[Washington, D.C.] - U.S. Senator Dick Durbin (D-IL) today said Americans will pay a heavy price under President Bush's scheme to privatize Social Security. By including Social Security privatization in his mid-session review of the federal budget, President Bush made it clear he has no intention of giving up privatization. In addition, the President's proposal to privatize Social Security is now estimated to cost $9 billion more over the next 10 years from $712 to $721 billion.

"President Bush and Congressional Republicans are determined to privatize Social Security," Durbin said. "That means benefit cuts for millions of Americans and billions of dollars in new debt."

"When retirement plans are under attack, Social Security is the bedrock of every American's retirement security. Democrats stopped the President's plan to dismantle Social Security last year and we will do it again," Durbin added.

http://durbin.senate.gov/record.cfm?id=258497&&

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