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DeLauro Rallies Against Social Security Privatization

Date: April 26, 2005
Location: Washington, DC
Issues: Senior Citizens Entitlements and the Safety Net


DeLauro Rallies Against Social Security Privatization

WASHINGTON, D.C. - As the U.S. Senate begins hearings on Social Security, Congresswoman Rosa L. DeLauro (Conn.-3) today joined House and Senate Democratic Leadership and hundreds of people from around the country to rally against Social Security privatization efforts.

"Private accounts do nothing to solve the Social Security shortfall because we will still have to pay benefits to current retirees at the same time we are taking money out of the system to invest in the stock market. This will cause the deficit to explode by another $5 trillion over the first 20 years of accounts. It will also lead to guaranteed benefit cuts of more than 40 percent."

DeLauro also signed a "Declaration of Unity," which reads, "Social Security guarantees Americans that if they work hard, contribute, and play by the rules, they have earned the right to retire in dignity, and their families will be protected in the event of disability or death. We are united in our commitment to strengthen Social Security, not privatize it. We will work to improve the retirement security of all Americans and will oppose any scheme for deep benefit cuts or massive debt to fund risky private accounts."

http://www.house.gov/delauro/press/2005/April/ss_rally_04_26_05.html

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