On August 14, 2005, Americans will celebrate the 70th anniversary of the signing, by President Franklin Delano Roosevelt, of the Social Security Act, the historic legislation that created Social Security. Since its creation, Social Security has helped millions of Americans retire in dignity. Social Security represents the very best of America's values, since it also safeguards Americans' independence and economic security in retirement and for families coping with death or disability. Now, the Bush Administration is attempting to privatize this important program. By diverting payroll taxes from the Trust Fund, the Bush plan amounts to a large cut in Social Security funding. That, in turn, would lead to deep benefit cuts.
To celebrate Social Security's birthday, the DNC will offer a new fact each day this week highlighting how this program positively affects the lives of millions of hard-working Americans.
African American Seniors Rely on Social Security. Without Social Security benefits, the poverty rate among older African Americans would more than double, pushing most African American seniors into poverty. [http://socialsecurity.ourfuture.org/issues/family/]