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“ Democratic priorities are clear: we will fight to get the economy back on track, we will create jobs, and we will help unemployed workers. ” |
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Pelosi: 'Democrats Created, Defended, and Will Strengthen Social Security'
Washington, D.C. -- House Democratic Leader Nancy Pelosi spoke this morning at a rally with House Democrats and other Americans opposed to President Bush's proposal to privatize Social Security. Below are Leader Pelosi's remarks as prepared for delivery:
"Last night, in his artful attempt to sell Social Security privatization, President Bush invoked the names of five Democrats and not a single Republican. He did so for one simple reason – the American people trust the Democratic Party on Social Security.
"Democrats created Social Security. Democrats defended it against Republican raids. And it will be Democrats who lead the way in strengthening Social Security for future generations. Democrats believe any consideration of Social Security must adhere to three key principles:
"First, Democrats insist that changes to Social Security not add to the deficit. The President’s plan would require borrowing trillions of dollars in coming decades, making the problem worse, not better. Democrats will not support President Bush’s tax on the future.
"Second, Democrats insist any change in Social Security not slash benefits. Perhaps the most deceptive line the President spoke last night was that privatization would 'provide money for retirement over and above the check you will receive for Social Security.' The President failed to mention that, if he gets his way, that Social Security benefit would be cut by more than 40 percent, because of a change in the way the benefit is calculated.
"Third and finally, any change to Social Security must be fair, including to young people, women, and minorities. President Bush implied again last night that young people have the most to gain under his plan, but the truth is that young people have the most to lose. If the President gets his way, a young person entering the workforce today can expect to lose more than $150,000 over the course of a 20-year retirement.
"Democrats will not allow this Administration to turn this proud, entrepreneurial achievement of the New Deal into a raw deal for millions of Americans.
"Social Security does face problems down the road. We need to solve them. But we have the time to do it right. We can solve the long-term challenge without dismantling Social Security, and without allowing this Administration’s false declaration of a crisis to justify a privatization that is unnecessary, unaffordable, and unwise."
“ Democrats are united in presenting a New Direction for America, one that will make our nation as strong as its people, one that brings opportunity, security, and prosperity to all Americans. ”
Democratic Leader Nancy Pelosi
