FOR IMMEDIATE RELEASE
July 24, 2001
Magda Lynn Seymour
Diane S. Witiak
(202) 639-6419

AFGE Condemns Social Security Commission Report



"Reckless politicians are the only real threat to Social Security's long-term financial solvency.

"This privatization commission is political payback to Wall Street and insurance companies, who cannot wait to get their hands on billions of dollars in commissions from administering the 150 million or so individual accounts envisioned by the privatizers. They don't care that the retirement eligibility age would have to be raised to 70, and that guaranteed benefits would have to be cut by as much as 50 percent to pay for this scam.

"Social Security provides income support--vital economic security--to 45 million Americans. Social Security is all that keeps 50 percent of our nation's elderly population above the poverty line.

"AFGE will not allow the Bush Administration to get away with dismantling and privatizing our nation's most popular and successful government program."

AFGE is the largest union for government employees, representing 600,000 federal workers in the United States and overseas, as well as employees of the District of Columbia. To learn more about AFGE, log onto www.afge.org.

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