A Congressional Budget Office report released as recent as June 2004 says the system will be able to pay full benefits until 2052, and 80 percent after that.

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.

There is a need for Social Security reform to ensure its stability, and Congress must act.

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.

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.

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

Even without reforms, the Social Security fund will be able to meet 100 percent of its obligations until 2042.