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Newsline: August 2002

Pledge to Save Social Security Comes to Queens

Congressman Meeks Joins Movement to Stop Bush Plan for Privatization

Rep. Gregory Meeks (D-6th CD, Queens), standing with New York City Central Labor Council President Brian McLauglin outside the Social Security Administration building in Jamaica, Queens, became the first member of the New York State congressional delegation to sign the "Pledge to Protect Social Security and Medicare."

Meeks and McLaughlin held the press conference, July 19, to release a new analysis of the impact privatization of Social Security would have on New York City residents. They were joined by Senior Action Council President Stuart Leibowitz, Jose Peralta, candidate for the NYS Assembly from the 39th A.D. in Queens, CLC Senior Action Council members, members of NYS State Wide Senior Action Council, New York Network for Action on Medicare and Social Security, JPAC, Goddard-Riverside Community Center, DC 37 Retiree Association, and Teamsters Local 237.

Meeks and McLaughlin contended that privatizing Social Security would:

Reduce benefits for both current and future beneficiaries

Cut benefits for survivors and people with disabilities

Raise the retirement age

Cost more than $1 trillion to transfer to private accounts

Subject beneficiaries to the fluctuations of the stock market.

In addition, they pointed out, unlike Social Security payments, stock market earnings are taxed at 100 percent.

"People deserve to know that if they work hard all their lives, that Social Security will be there for them," said Meeks.

The crowd cheered as Meeks signed an enlarged, poster-sized version of the pledge to:

Oppose privatizing Social Security, partially or totally, including "diverting any Social Security revenues to fund private investment accounts or substituting private investment accounts for any portion of Social Security's guaranteed benefits," and

Support a Medicare prescription drug benefit with affordable premiums, that "will cover all drugs beneficiaries need and that will empower Medicare to negotiate directly with drug companies for lower prices."

Copies of the pledge, which is being circulated among House and Senate candidates and incumbents nationwide, can be gotten from Campaign for America's Future, 1025 Connecticut Ave., NW, Suite 205, Washington, DC 20036. Organizers are demanding that congressional members and candidates take a stand on privatization before Election Day.

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