Report

Because Social Security is such an important part of the economic well-being of older Americans, the benefit cuts included in the president's privatization plan would increase senior poverty dramatically. A new generation of poor seniors would place unprecedented demands on already stretched state budgets — squeezing out funds for top state priorities. This would likely lead to higher state taxes to pay the price of providing these new poor seniors with the healthcare, nutrition and housing they can no longer afford themselves. more »

The mandatory benefit cuts included in the President’s Social Security privatization proposal would hurt America’s rural communities more harshly than urban communities. more »

Scorecard on the large number of candidates who support privatization of Social Security – and prospects for a new congressional majority that could dismantle Social Security. more »

Our state-by-state reports conclude that the President's plan would have a devastating impact on the economic security of American families.  The President's plan would impose benefit cuts of 15 percent for a 45-year-old worker today, cuts of 25 percent for a 35-year-old worker today and a typical 20-year-old worker, who has just begun paying into the Social Security system, can expect to see a cut of $152,000 over their retirement.  The plan would saddle young workers with both the cost of crippling national debt and with severe reductions in the amount they can expect to see from their Social Security checks.  Social Security is the most successful anti-poverty program in our nation's history — and it is a benefit earned by every single American after a lifetime of hard work. more »

The President's plan includes mandatory cuts to guaranteed Social Security checks for nearly all workers who earn over $20,000 per year, regardless of whether or not the worker chooses a private account. Under this plan, a typical American worker would see their benefits reduced by more than $214,000!  Read how the President’s Social Security privatization plan will hurt people in your state:

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