Democratic News

From the DNC Press Office

Washington, DC – Democratic National Committee Chairman Howard Dean issued the following statement on Social Security's 70th birthday:

"On August 14, 2005, Americans will celebrate the 70th anniversary of the signing, by President Franklin Delano Roosevelt, of the Social Security Act, the historic legislation that created Social Security. Since its creation, Social Security has helped millions of Americans retire in dignity and ensured that disabled workers and their families aren't cast into poverty. Social Security safeguards Americans' independence and economic security when they get older. More than 90 percent of seniors receive Social Security benefits and is the only source of income for nearly one in five seniors.

"This important program also provides financial security to the millions of Americans who rely upon survivors and disability benefits, including 5 million children.

"After 70 years, it's time to find some ways to strengthen it, but President Bush's plan would make Social Security's problems worse. Privatizing Social Security would cut guaranteed benefits by more than 40% for middle class Americans and would also increase the debt by $5 trillion over 20 years.

"As we celebrate Social Security's 70th birthday, Democrats renew our commitment to its founding principles and protect it from the disastrous Bush privatization plan. Democrats created Social Security and stand ready to develop a bipartisan common-sense approach for strengthening Social Security without breaking its promise to American workers, running up the deficit or slashing hard-earned benefits."