New York City (August 19th, 2010) – Throughout the month of August, BALCONY, the Business and Labor Coalition of New York, has worked with the New York State Office for the Aging, AARP, the New York State United Teachers, Hunter College’s Roosevelt House Public Policy Institute, and many others to celebrate the 75th anniversary of Social Security with events across New York State.

On August 14th, 1935 President Franklin Roosevelt signed the Social Security program into law, asserting his belief that every American has a right to freedom from want and to certain critical protections from the unforeseeable and the inevitable.

75 years later the promise of Social Security continues to deliver – providing a critical social safety net for all Americans and ensuring that no American suffers unduly just because they are old, or sick, or the victim of a catastrophic circumstance.

Speaking about the importance of Social Security Alan Lubin, Co-Chair of BALCONY and former Executive Vice President of NYSUT, said, “Social Security is a hugely important program for seniors and the retired providing financial security for millions of Americans. Moreover Social Security is a major benefit for younger Americans who are the victim of job related injury, disability, or suffer the death of a parent or spouse. An estimated 3 out of 10 working men and 1 out of 4 working women will become severely disabled before reaching retirement age. For these folks Social Security is more than a convenience, it is a vital safety net. Additionally, Social Security is the major life and disability insurance protection for more than 95% of New York’s children. Social Security is a cornerstone of the American promise and we must remain vigilant in our support of it, especially in these tough political times when special interests and partisan politics threaten the integrity of this critical program – we cannot allow it to become watered down.”

Bruce Ventimiglia, Co-Chair of BALCONY and President and CEO of Saratoga Capital Management, LLC added, “BALCONY, like Social Security, was created with the intention of leveling the playing field, of protecting all Americans, whether old or young, sick or healthy, fortunate or not. Social Security is important for America’s businesses as it helps to provide for the financial security of workers and their families. We applaud the contributions that Social Security has made to our country and to our fellow New Yorkers. BALCONY will continue to work to ensure that Social Security’s crucial benefits are available to future generations of Americans.”

Lou Gordon, Director of BALCONY, said, “BALCONY celebrates 75 years of Social Security. BALCONY believes in maintaining and promoting the integrity and the promise of Social Security now and for future generations of Americans.”

BALCONY, the Business and Labor Coalition of New York, represents more than 1,000 New York businesses, labor unions, and trade associations. BALCONY seeks common ground in the public policy debate in New York to spur economic development through the adoption of business/union friendly, socially responsible common sense laws that maintain and improve the quality of life for working New Yorkers.