Washington, DC -- During a media availability in Harrisburg, PA today, Senator McCain, like President Bush before him, used word games in an effort to hide his support for a Social Security privatization plan that would blow a hole in the federal budget and dismantle Social Security as we know it. Asked how he intends to sell his support for President Bush's failed plan to privatize Social Security, McCain complained about the "demagoguery about quote privatization" then went on to describe the Bush plan.
The Bush-McCain privatization plan would blow a $1 trillion hole in the budget just to transition to private accounts while placing the guaranteed benefit for retirees, surviving spouses and children and the disabled at risk. In 2004, McCain claimed that Social Security could not be preserved for younger generations "without privatization." McCain hit the road with President Bush in 2005 to sell the failed and flawed plan. McCain's latest contortion comes barely two weeks after he falsely told a New Hampshire town hall audience that "I'm not for quote privatizing Social Security. I never have been, I never will be."
Today, the DNC released a new web video aimed at helping voters keep track of McCain's Social Security rhetoric. See it here: http://www.youtube.com/watch?v=b9yL13UV1rg
"No matter what word games you use to describe it, the American people in 2005, and the people of Pennsylvania in 2006, rendered their judgment on the Bush-McCain plan to privative Social Security -- and they said no way, no how," said Brad Woodhouse of the Democratic National Committee. "John McCain has embraced the same risky and unpopular policy for Social Security that contributed to the demise of the Bush Presidency and the ended the careers of Republicans like Rick Santorum. The American people cannot afford another Republican President who is willing to gamble with the retirement security of millions of hard working families."
MCCAIN TODAY: "I've Heard This Demagoguery About Quote Privatization." "I have consistently said that no proposal of mine will affect retirees. Its that simple. I have committed to maintaining the present system for present day retirees and for those above a certain age. That's just a fact. Now I've heard this demagoguery about quote privatization. My answer to that is I'd like to have young workers voluntarily to be able to invest some of their money--it's their money, their tax dollars, nobody else's--into a savings account with their name on it if they chose to." [Media Availability, Harrisburg, PA, 6/30/08]
2004: McCain Says Privatization Only Way to Go Forward. Responding to a question of whether "privatizing Social Security be a priority for you going forward?" McCain answered, "Without privatization, I don't see how you can possibly, over time, make sure that young Americans are able to receive Social Security benefits." [C-Span Road to the White House, 11/18/2004]
2005: McCain Campaigned for Bush Social Security Plan. "McCain has been especially supportive of his onetime rival, appearing with Bush at three events over the past two days in trying to prod Democrats into negotiations to include private accounts in a plan to revamp Social Security." [Washington Post, 3/23/05]
2008: McCain Said He Supports Privatization of Social Security "Along the Lines that President Bush Proposed." Earlier this year, McCain said " As part of Social Security reform, I believe that private savings accounts are a part of it -- along the lines that President Bush proposed." [Wall Street Journal, 3/3/08]