Senator Harkin's "Fix it, Don't Nix it" Social Security Forum: CEDAR RAPIDS  

Senator Tom Harkin (D-IA) will hold a public forum in Cedar Rapids on Saturday, April 23rd, to discuss the need to protect and strengthen Social Security without risking its future through privatization.

President Bush’s privatization commission has proposed creating private Social Security accounts that would cut benefits by one-third or more, even for those who choose not to invest in privatized accounts. Workers could invest two-thirds of their Social Security contribution in stocks and bonds, but those returns could not make up for the deep benefit cuts and would be subject to the whims of Wall Street.

Even many supporters of the president’s plan acknowledge that private accounts have nothing to do with ensuring the long-term financial health of Social Security. In fact, to fund the private accounts, the government would have to borrow almost $5 trillion dollars over the first 20 years from foreign countries like China and Japan – making Social Security’s financial problems much worse and even further from being solved.

WHO: Senator Tom Harkin

WHAT: Fix It, Don’t Nix It Social Security Forum

WHEN: 1:00 PM

Saturday, April 23

WHERE: Grant Wood Area Education Agency

4401 6th Street SW

Cedar Rapids