Plan to Privatize Social Security Encounters Resistance
Baucus Joins Congressional Colleagues to Discuss Negative Reaction to Private Accounts
(WASHINGTON, D.C.) U.S. Senator Max Baucus today joined fellow CongressionalDemocrats at a press conference to share constituent reactions to proposals to privatize SocialSecurity. Today marks the halfway point of the Bush Administration’s “60 cities in 60 days”tour—a tour highlighting the plan to privatize Social Security.
“For the last 30 days, the privatization plan has been pitched hard with hardly anytakers,” Baucus, Ranking Member of the Senate Finance Committee, said. “In Montana as wellas across the nation, citizens remain very concerned about privatizing Social Security. Whiletraveling in Montana, I heard numerous stories how Social Security is a lifeline to many in myhome state and Montanans understand this program should not be privatized.”
Baucus continued, “I cannot support a plan to privatize Social Security. PrivatizingSocial Security would only cut reliable, crucial benefits, and add trillions of dollars to thenational debt.”
President Bush and administration officials began a 60 day/60 city tour to sell their SocialSecurity privatization plan 30 days ago. So far more than 30 cities have been visited and therehave been over 100 events, but public support continues to dwindle for privatization.
“All of my colleagues here today agree that Social Security needs to be strengthened forthe long-term,” Baucus said. “But any plan privatizing Social Security will only weaken theprogram and make its financial situation worse, not better. Even if the President had 30 years topitch his current plan, it still would not gain any support because it does not support the longtermfinances of Social Security and instead undermines the current program.”
This past winter, President Bush visited Montana to present his privatization plan.Baucus noted that he is ready to work with the President when private accounts have been takenout of the discussion.
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