Democrats: Happy anniversary Social Security, Don't privatize it John McCain

Rep. Debbie Wasserman Schultz is join James Roosevelt, FDR's grandson, on a press conference call today to mark the 73rd anniversary of Social Security -- and bash John McCain for endorsing the concept of private indiviual accounts, which Democrats call a "risky investment scheme."

The New York Times reports today though that McCain hasn't said whether he sees such private accounts as a "tool to augment the existing system or to replace it with some form of privatization similar to what President Bush proposed in 2005. And it notes he's "infuriated his party’s right wing by saying that 'everything has to be on the table' in discussions about keeping Social Security solvent."

Barack Obama in a statement said he supports "strengthening Social Security’s solvency while protecting middle class families from benefit cuts, tax increases or increases in the retirement age."

He said he opposes efforts to privatize Social Security, saying it's "wrong and tears at the fabric of Social Security – the very idea of mutual responsibility – by subjecting a secure, earned retirement to the whims of the market."

Comments

[Frank]

That is a bold faced lie by Obama. If it was so secure there would be no need to fix it!

[Sonny Campbell]

All said and done, the US Social Security system will fall into debt within the next ten years, and is likely to run out of money over the next several decades. Without change, today's young adults will be hit hard. It's a structural problem that can't be fixed with little tweaks. Now is the time to fix it.

We are producing a series of short internet videos to explain this issue to everyone. View the first one on http://www.youtube.com/watch?v=Zyvx_r4UB9Y

Learn more at : http://savesonny.org/