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Press Release
Iowans United to Protect Social Security
FOR IMMEDIATE RELEASE:
Date: March 29, 2005
IOWA REPORT: Iowans United to Protect Social Security Releases Report Outlining Devastating Effects of Bush Social Security Privatization Plan on Iowa
Average Iowa 20 Year-Old’s Benefit would be Cut by $152,000
Des Moines, IA – Iowans United to Protect Social Security held a press conference today at the Iowa State Capitol in Des Moines releasing a report outlining the disastrous effects of the Bush Administration’s plans to privatize Social Security on the state of Iowa prior to the President’s visit on the same topic tomorrow.
"The President’s plan to privatize Social Security is a disaster for the state of Iowa," said Lisa Davis-Cook, co-Director of Iowa Citizen Action Network. "The average Iowan would suffer a benefit cut of $152,000 over their retirement. With nearly 550,000 Iowans depending on Social Security, we cannot rely on the President’s risky privatization scheme.
The Institute for American’s Future report details the economic impact of Bush’s privatization plan on the state of Iowa including deep benefit cuts for Social Security recipients and its impact on the national debt. The report concluded that the average 20 year old Iowa resident who is paying into Social Security today will realize a cut in his or her future benefit of a staggering $152,000. Nearly 550,000 Iowans currently collect Social Security with more than 360,000 of these being retired workers over the age of 62 receiving an average of $10,740 a year.
"Privatizing Social Security is a bad deal for Iowans, and it’s a bad deal for Americans," said Jan Corderman, President of AFSCME Iowa Council #61. "President Bush’s plan will only explode the national debt by $5 trillion over 20 years and cut our guaranteed benefit. Replacing security with insecurity is not the way to protect our Seniors and those who pay into the system over their lifetime.
Iowa Lt. Governor, Sally Pederson, held a conference call to discuss the President’s plan with reporters later in the day. President Bush will be in Cedar Rapids tomorrow as part of his 60 day push to pitch his privatization plan.
The report, prepared by Iowans United’s coalition partner the Institute for America’s Future, can be accessed at the following: http://www.ourfuture.org/docUploads/sotu-ss_IA.pdf
Faces and Voices of Social Security Campaign
FACT SHEETS
Privatization: Fact Vs Fiction
Is the McCrery-Shaw Bill Privatization?
REPORTS
Institute for America’s Future: Rural Communities Rely on Social Security Income Nearly TWICE as Much as Non-Rural Communities
The Center for Budget and Policy Priorities: Why the President’s Social Security proposals could ultimately lead to the unraveling of Social Security
Institute for America's Future: Privatization = $152,000 Cut in Social Security Checks for Typical Iowan
RESOURCES
Americans United to Protect Social Security
Midwest Academy: The Bush Plan Weakens Social Security
IN THE NEWS
09/30/05, Waterloo Cedar Falls Courier: Public hearing highlights poverty, budget spending
09/29/05, Mason City Globe Gazette: Guest View: Finding Budget 'High Ground'
09/29/05, Cedar Rapids Gazette: Advocates hope to avoid program cuts
09/27/05, Quad City Times: Putting a face on budget plight
09/20/05, Des Moines Register: Hearings planned on cuts to social programs
08/20/05, Waterloo Cedar Falls Courier: Labor group joins protest of Social Security proposal
08/04/05, Washington Evening Journal: Washington stop on Social Security roadshow
07/26/05, Clear Lake Reporter: Social Security Town Hall Discussion to Take Place in Clear Lake
07/06/2005, The Hawk Eye: Group aiming to take stand against Social Security privatization
PRESS RELEASES
02/09/06 - Iowans Call on Nussle to Reject Social Security Cuts and Privatization
8/19/05 - Iowans Celebrate 70 Years of Social Security
8/12/05 - Who Is Ducking? Congressman Jim Nussle on Social Security Privatization
8/3/05 - Rural Iowans to Discuss Effects of Proposed Changes to Social Security
