This is not about left or right, but about the moral center. Social Security is particularly important to people of color and women. Three of four older African American and Latino households rely on Social Security for half or more of their retirement income. People of color are less likely to have savings income or receive a pension, and they are more likely to need Social Security's survivor and disability benefits. Every major proposals to privatize Social Security would also make deep cuts in guaranteed benefits, raise the retirement age and slash disability benefits - all of these would be hardest on those who rely most on Social Security, especially people of color.
Women are also less likely to have decent pensions or adequate savings.
Since women tend to live longer, they benefit even more from Social Security's guarantee of a benefit, protected against inflation that lasts until you die. As political leaders, you know how popular Social Security is. I append them to my testimony, and recommend them to you as a guide to your work. The principles are clear. Social Security should remain a program of shared security, not one of individual risk.