American workers could accumulate wealth in the thousands (in some cases, hundreds of thousands) of dollars through a Social Security reform that includes personal retirement accounts. This increased wealth would be in addition to a maintenance level of Social Security benefits and could help millions of parents, their children, and their grandchildren to attain greater economic security and independence through their own personalized retirement assets.
Rather than attempting to perpetuate an outdated Social Securitysystem that excludes Hispanics from fully participating in theAmerican dream, lawmakers should pursue reforms that promoteprivate retirement savings and financial independence in old age.
Federal lawmakers faced almost unprecedented political pressure to support last year's legislative main event: adding a prescription drug benefit to the outmoded Medicare health program for our nation's seniors.