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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: Bush Should Heed Advice of Architect of Republican Social Security Plan and Drop Private Accounts
Washington, D.C. -- House Democratic Leader Nancy Pelosi released the following statement today on news reports that Robert Pozen, an economist who has proposed key elements of the Republicans' Social Security plan, urged President Bush to drop his insistence to create private accounts:
“Mr. Pozen, one of the primary architects of the Republican privatization plan, has urged the President to ‘back away’ from private accounts; the President should take Mr. Pozen’s advice.
“The President’s continued insistence that private accounts must be a part of any effort to address Social Security’s long-term challenge is a roadblock to real reform. We know that private accounts necessitate deep benefit cuts for the middle class and trillions of dollars in new debt, which would cripple Social Security for generations.
“Mr. Pozen’s statements confirm what we already knew: risky private accounts are a bad deal for American workers because they would turn a guaranteed benefit into a guaranteed gamble.
“Democrats stand ready to work with Republicans to ensure that American families receive the guaranteed benefits they have earned through a lifetime of work.”
“ 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
