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" Our political leaders must be honest and forthcoming with data that will allow citizens to use facts and figures to judge for themselves what state Social Security is in. "
Grace Napolitano
Facts
Political
Data
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" Our Hispanic community needs to understand how important the Social Security system is for not only its retired citizens, but also its disabled workers. "
Grace Napolitano
Security
Community
Important
" Almost half of all Latinas currently on Social Security rely exclusively on their benefit check in retirement. "
Grace Napolitano
Retirement
Half
Check
" Even without reforms, the Social Security fund will be able to meet 100 percent of its obligations until 2042. "
Grace Napolitano
Social
Without
Will
" We must level with the people and explain to them that Social Security will first face funding problems in 2042 that can be fixed now with changes that do not undermine and ultimately drain from the entire program. "
Grace Napolitano
Security
People
Now
" We must take the time to do what needs to be done now, what is right, instead of passing a bad bill. "
Grace Napolitano
Right
Time
Take
" A Congressional Budget Office report released as recent as June 2004 says the system will be able to pay full benefits until 2052, and 80 percent after that. "
Grace Napolitano
System
June
Pay
" Latinos are disproportionately more likely to be injured on the job than other ethnic groups. "
Grace Napolitano
More
Ethnic
Job
" Social Security has been effective for 70 years; prior predictions of its demise have been totally overstated. "
Grace Napolitano
Been
Social
Effective
" Because Social Security is specifically designed to boost the retirement income of low earners with a progressive benefit formula, the program has played an enormous and necessary role in keeping Latinas out of poverty. "
Grace Napolitano
Poverty
Retirement
Security
" To allow all U.S. workers to put part of their earnings into private investment accounts would definitely erode the Social Security system and cause uncertainty for new investors. "
Grace Napolitano
Security
New
Investment
" I am not criticizing investing in the stock market; I am an investor. "
Grace Napolitano
I Am
Investing
Market
" We must work to stabilize Social Security. We must not gamble with our nation's social insurance program, one of our most popular and effective federal programs that has remained dependable and stable for the past 70 years. "
Grace Napolitano
Past
Insurance
Nation
" There is a need for Social Security reform to ensure its stability, and Congress must act. "
Grace Napolitano
Need
Security
Stability
" Latinas' life expectancies are relatively long. When a current retiree hits 65 and begins receiving her benefit check, she can expect to live another 22 years. That life expectancy is higher than white women or men. "
Grace Napolitano
Men
Life
Live
" Because of my own experience with market fluctuation, I recognize the great risks one takes on investments. This converts the Social Security safety net into a risky proposition many cannot afford to take. "
Grace Napolitano
Risks
Experience
Great
" President Bush has consistently used rhetoric, and that is not convincing given his past record. "
Grace Napolitano
Rhetoric
President
Record
" If Congress doesn't raise taxes, you cannot get a private investment account without forgoing a portion, possibly all, of your guaranteed benefit check. "
Grace Napolitano
Check
You
Taxes
" For people who have for been putting their hard-earned money into the system for years, the president's idea would replace their safety net with a risky gamble with no assurance of a stable return of investment. "
Grace Napolitano
Investment
Years
Safety
" We must explain the truth: There is no free lunch. "
Grace Napolitano
Explain
Truth
Must
" Because of their low earnings and family obligations, Latinas would not be putting much money into private investment accounts. An average Latina could wind up losing thousands of dollars under this proposal. "
Grace Napolitano
Wind
Family
Investment
" We are still waiting for the president to introduce a concrete plan. He has just hinted at what he is thinking about doing, but no one has seen a proposal. "
Grace Napolitano
Thinking
Concrete
Doing