March 2, 2004

The Honorable George W. Bush
The White House
1600 Pennsylvania Avenue
Washington, DC 20500

Dear Mr. President:

We are writing to respectfully urge you to publicly reject Federal Reserve Chairman Alan Greenspan’s recent remarks recommending significant cuts in Social Security benefits. As you know, Mr. Greenspan called for raising the retirement age above 67 and slowing the rate at which benefits are adjusted for inflation. We believe that implementing this proposal would be tantamount to turning our backs on our nation's seniors.

For nearly seventy years, the federal government has had a pact with Americans that if they work hard, pay their taxes, and play by the rules, they will be able to retire and get their Social Security benefits in return. Social Security has grown to become an essential facet of American life, with one in every six Americans receiving a Social Security benefit and 98 percent of all workers covered by Social Security. Today, almost 45 million people receive these benefits.

The Social Security Trust Fund is currently projected to remain solvent until 2042 and the average monthly Social Security benefit is only about $900 per month. We disagree with those who believe that this is too much to promise seniors who have worked hard, paid into the system, and made an honest living. We believe it would be wrong to balance the budget by breaking our promise to America’s seniors.

We hope you will publicly reject the statements of Chairman Greenspan and assure all Americans that Social Security benefits for both current and future retirees will be preserved in full.

Sincerely,

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