“President Bush’s Social Security ‘reform’ would have resulted in the widespread privatization of the retirement wealth of a majority of Americans combined with deep cuts to benefits.  It would have put the life savings of America’s working class into the Wall Street gambling casino.  If we had passed Bush’s plan to privatize Social Security, working people would have seen as much as half their investments disappear after the economic collapse.

 

By making these comments, President Bush has laid the groundwork for Social Security privatization to surface as an issue in the next congress. In light of the collapse of Wall Street which led to the collapse of 401ks for millions of Americans, seniors understand that if government privatizes Social Security their retirements are at risk. This has serious implications for our nation. This issue affects every single American. Democrats must begin to organize now and to make it clear that Social Security is a key component to the financial and retirement security of millions. Social Security must be protected from those who wish to gamble with fruits of the life-long labor of the American people,” said Kucinich.