FOR IMMEDIATE RELEASE
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Matt O'Connor, Communications Director, CSEA/SEIU Local 2001
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STOP PRIVATIZATION OF SOCIAL SECURITY

Tuesday, August 17, 2010

As The Courant rightfully points out in its Aug. 14 editorial, "Most people realize the creation of Social Security is one of the best things their federal government has ever done" ["Still A Hit At 75"].

Social Security is not part of the nation's deficit and debt problem. It is the most fiscally responsible federal program. It is self-financed through dedicated payroll contributions that have accumulated a $2.5 trillion surplus. Ninety-nine percent of contributions are returned in benefits, only 1 percent is spent on administration.

Yet a federal commission now looking at Social Security could recommend to Congress by December that there be some form of privatizing this highly successful program. The commission contains a number of known foes of Social Security including its co-chairman, former Republican Sen. Alan Simpson, who supported the 2005 attempt to privatize Social Security.

Our congressional delegation should guard against any recommendation or legislation that would diminish or eliminate the government-guaranteed benefits of Social Security as it is presently constituted.

Win Heimer
West Hartford

Corresponding secretary, Connecticut Alliance for Retired Americans.