Canseco Supports Privatizing Social Security

Press Release

By:  Pete Gallego
Date: Sept. 6, 2012
Location: San Antonio, TX

Social Security safeguards the economic security and independence of our parents and grandparents when they get older or become disabled. Half of our nation's seniors would fall below the poverty line without Social Security. Yet, Congressman Quico Canseco and other Tea Party extremists have voted against protecting Social Security, and they support destabilizing this essential program by making it a private voucher system.

"Americans who have worked hard and paid into the Social Security system their entire lives have earned the right to retire with dignity," said State Rep. Pete Gallego. "My pledge is to the seniors and to middle class families. I will protect our seniors by protecting the Social Security benefits that they have earned, now and in the future."

Among elderly Social Security beneficiaries, 54% of married couples and 73% of unmarried persons receive 50% or more of their income from Social Security. Latinos rely on social security at higher rates than the rest of the population. Seventy four percent of Latino beneficiaries rely on Social Security for at least half of their income, 53 percent for at least 90 percent of their income, and 44 percent for all of their income.

"It's unconscionable that Quico Canseco would attack a program on which so many seniors rely for survival," said Gallego for Congress spokeswoman Rebecca Acuna. "Quico Canseco would prefer to punish seniors and cut Social Security than to end tax breaks for corporations that ship jobs overseas. Latino communities could be devastated if Quico had his way. It's obvious whose side the Congressman is on, and it's not the side of middle class families."

Quico Canseco voted against protecting Social Security. Quico voted against a measure that would have prohibited any of the funds in the short-term Continuing Resolution from being used to cut or privatize Social Security. Quico Canseco supports privatizing Social Security which would have a particularly damaging impact on Hispanics who rely on Social Security as their sole income more than any other group.

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