NOW to George W. Bush: No Benefit Cuts, No Way

April 29, 2005

George W. Bush told a national television audience last night that his administration wants to cut Social Security benefits for everyone except the poorest of workers. Of course, Bush said he still wants to see risky private investment accounts as part of the package as well.

"Protecting benefits for lower income workers — many of whom are women — is crucial," stated NOW President Kim Gandy. "But we will not accept cutting benefits for the middle class."

Moderate income women — especially single, widowed and elderly women — have less in savings and often no pensions, and depend on the guaranteed benefits of the current system. In all fairness, those benefits should be increased to compensate for pay discrimination and years out of the workforce, which result in lower benefits for women.

NOW Action Vice President Olga Vives said, "Feminists will not be fooled by George Bush and his privatization scheme. We know that reducing benefits for higher earners, which includes the middle class right along with the wealthy, will undermine this popular social insurance program and lead to its demise."

If Bush's plan is enacted, the retirement security of all workers in the U.S. will rest upon three unreliable factors: the fluctuations of the stock market, the saving capacity of workers with declining household incomes, and the vanishing prospect of private pensions.

"The real financial problem this country faces is that the Bush administration has plunged us into unprecedented debt with foolish giveaways to the rich and an unwarranted, costly war," said Gandy. "Now, Bush wants millions of moderate and higher income workers and their children to pay for his reckless spending through benefit cuts in Social Security, plus risk their retirement security on the ups and downs of the stock market. Every day more people are joining us in saying NO to Bush — NO benefit cuts, NO privatization, NO way, NO how."

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