August 14, 2006

REID STATEMENT ON SOCIAL SECURITY’S 71st ANNIVERSARY

Washington, DC – With Republicans continuing their quest to privatize Social Security, Senate Democratic Leader Harry Reid released the following statement on the program’s 71st anniversary:

“Seventy-one years after Social Security was created, it continues to play a key role in the lives of millions of working Americans. Social Security’s success in lifting 13 million elderly Americans out of poverty and providing assistance to over 8 million Americans with disabilities and over 6 million surviving spouses and children is celebrated by all Americans.

“As we mark Social Security’s contribution to the retirement security of millions of hardworking Americans, Senate Democrats renew our commitment to strengthening the program and to rejecting any plan to dismantle it. Risky privatization schemes with their deep benefit cuts and trillions in new debt continue to be promoted by Republicans in Congress and they will continue to be rejected by the American people.

“Social Security faces a long term financial challenge, and Democrats stand ready to move America in a new direction to strengthen it.”

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Bush Republicans Remain Committed to Privatizing Social Security

President Bush Not Giving Up on Privatizing Social Security. “I addressed that issue last year, focusing on Social Security reform…If we can’t get it done this year, I’m going to try next year. And if we can’t get it done next year, I’m going to try the year after that.” (President Bush, 6/27/06)

House Majority Leader John Boehner Plans to Revive Privatization Plan in January. “If I'm around in a leadership role come January, we're going to get serious about it." (Washington Times, 7/31/06)

Chairman of House Ways and Means Subcommittee on Social Security, Rep. Jim McCrery, Says Privatization Will be Top Priority for Congress in 2007. “[I]t seems to me the…logical order [in 2007] would be Social Security, then tax reform.” (CongressDaily, 6/6/06)

Treasury Secretary Henry Paulson Said He Won't Shy from the Fight to Overhaul Social Security. “Paulson said he has already been warned by ‘many in Washington’ that entitlement reform will be difficult to achieve because it is easy to demagogue the issue and turn it into a political weapon. Nevertheless, he said, he's under orders from President Bush to work with Congress on a bipartisan basis to find workable solutions.” (Marketwatch, 8/1/06)

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