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

We must explain the truth: There is no free lunch.
Grace Napolitano

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

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

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

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

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

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