For Immediate Release

Protect Social Security from the Wall Street Gambling Casino

WASHINGTON - Congressman
Dennis Kucinich (D-OH) today made the following statement after the
Chicago Tribune reported that former President Bush told a trade
association group in Chicago that his greatest failure in office was his
inability pass social security reform:

 
“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.

 

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