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Saving Social Security: Phase II

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Last year, we stopped President Bush’s and the GOP Congress’s Social Security privatization scheme dead in its tracks. Today our success – and how progressives did it – took center stage at the American Federation of State, County and Municipal Employees (AFSCME) Convention in Chicago.

But stay tuned: we just kicked off Phase II of our campaign with new ads in five key states.

As progressives, Social Security is a central pillar in our values system. We believe in a level playing field – that Americans who work hard and play by the rules should retire with stability and dignity. And that’s why AFSCME launched Americans United to Protect Social Security, a campaign that pilloried Bush’s privatization plan in an effort to protect Social Security and prevent massive and harmful benefit cuts.

With funding from AFSCME and other groups, Americans United to Protect Social Security (now Americans United) operated in 35 states across the country and brought tremendous – and in some cases unbearable – pressure to bear on members of Congress to oppose President Bush’s risky and expensive scheme to privatize Social Security. Americans United held over 1,400 events – press conferences, conference calls, town hall meetings, protests of Presidential visits, parades and panel discussions – all of which generated pressure on members of Congress to support Social Security by opposing Bush’s ridiculous scheme to dismantle it through privatization.

It worked. The campaign forced the President to throw in the towel – at least temporarily – on the signature domestic policy initiative of his second term – in less than six months.

All of this, of course, would not have succeeded had the progressive blogosphere not taken up the cause. Particularly, Josh Marshall was and is a leader in pinning down politicians on where they stand on this and other issues.

But our work isn’t over yet. President Bush, who is well known for continuing a mission long after it has failed, has made it clear he is preparing to go on the war path against Social Security again as early as next year. Last month the President resubmitted his plan to privatize Social Security to Congress as part of the his mid-session review of the federal budget. And just a few days ago, Republican Majority Leader John Boehner said that if Republicans retain control of Congress, they’ll “get serious” about privatizing Social Security.

This President and his friends in the Republican Congress have a hard time learning a lesson. The lesson they should have learned last year is that the most cherished third rail of American politics still carries a lot of juice. But Bush and company are clearly not driven by just politics here – they are driven by a radical right wing ideology which has always and continues to hate Social Security – and virtually any government program designed to help ordinary Americans get a fair shake – including progressive labor polices – but I digress…

So to make sure the President and the GOP learned their lesson, we’re launching a new phase of our campaign to protect Social Security. Last week, Americans United launched ads in Ohio, Pennsylvania, Montana, Florida and Missouri reminding voters that privatization remains a real threat – and that they must hold members of Congress accountable.

And that’s just the kickoff to our fall campaign. I can’t give away all the details just yet. But come Election Day, Americans will know which members of Congress support Social Security – and which ones want to destroy it.


3 Comments

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I think it is easily put to people--would you place more faith in an insurance policy or the stock market?

Basic advice to new investors is always to NOT go all in, but to place some assets in absolutely safe instruments. Even those with large market positions and bond holdings have life insurance, I'd bet.

"Privatisation" is still dead.

I, for one, expect the GOP to unite wholly in killing whatever proposal the left provides. It will be a sort of just payback for the left's intolerance of a good idea. You say Bush's plan was "risky" yet it addressed the essential problems and was, as a whole, a good idea.

There are two reasons why the Democrats opposed the plan, neither of which had much to do with specifics.

First, Democrats cannot stand the thought of giving the American citizen control over their own future; which was the primary function of the private account plan. As is the custom with their socialist ideology, such a responsibility belongs with the Federal Government alone.

Second, and more importantly, Democrats could never allow a Republican president, or Congress, to take credit for fixing the system it celebrates as its most profound success.

Pure politics, my friend, and no substance whatsoever. Your Phase II will fail.

The personal accounts are not a "good idea," they are a "good fantasy." The Republicans have not yet actually described any plan, thay have only make sales-pitch claims. Let's see a full description of the plan.

When we do we will see that Americans will not have control of their money. they won't even have access to it. Take a look at what Bush said in Alabama, Arizona, Colorado, and New Mexico: once they have invested their money in the so-called personal accounts they can never, in their lifetimes, get any of it back. Nor can they get back any of the growth in those accounts during their working years.

The reason for that prohibition is that the scheme is a stock market bubble. The new feature of that bubble is that it would be government-mandated and government-controlled. By prohibiting retirees access to their money the backers of the personal account scheme hope to prolong the bubble. Prolong it that will, but it is still a bubble and it still will end in collapse.

The stock market is exactly what the name imples: a market. It would be influenced by all the transactions by the workers saving for their retirement. While the investments are greater than the withdrawals stock prices will go up, artificially, purely by supply-and-demand logic. When sales of stock (in order to get back their money for their retirement) by retirees equal and then exceed the investments stock prices will fall, for exctly the same reason: supply and demand.

That's part of the reason the Republicans will not give a full description of the plan. They could not get away with what they are doing if they were stock brokers or mutual fund salesmen: they'd have to provide a prospectus for what they are selling. As politicians they can lie. They lie. The essence of the lie is that the stock market is a magic money machine. It isn't. It's a market.

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