DNC - Democrats Highlight McCain's Plan to Privatize Social Security in New Campaign

Washington, DC - The Democratic National Committee today launched a new web video called "Absolute Disgrace" that shows John McCain calling the current mechanism for funding Social Security an "absolute disgrace" and demonstrates his preferred alternative: President Bush's failed plan to privatize Social Security. The DNC also announced that it will be shipping to state parties thousands of signs that say "Hands Off My Social Security" on one side and "My Social Security Is Not a Disgrace" on the other as part of a nationwide program of activities aimed at highlighting the threat that McCain's position on Social Security poses to the most successful government program in our nation's history. 

Today's announcement comes on the same day the coalition of organizations that derailed President Bush's effort to privatize Social Security in 2005 is hosting a conference call to discuss their own activities to highlight McCain's support for Bush's most unsuccessful domestic policy proposal of his Presidency.

On the campaign trail, Senator McCain claims he would balance the budget by reigning in entitlement spending, which would mean slashing Social Security benefits for millions of seniors, survivors and people with disabilities.  McCain has consistently been one of the strongest supporters of President Bush's risky scheme to privatize Social Security, even hitting the road with the President to sell the plan in 2005.  At a time when the stock market is spiraling downward and American families are facing more economic insecurities, McCain is touting a plan that would turn Social Security from a guarantee into a gamble and blow a whole in the national debt with $1 trillion in transition costs.

DNC Chairman Howard Dean today issued the following statement:

"John McCain's promise to recycle President Bush's failed plan to privatize Social Security after the American people so clearly rejected it shows both his commitment to a third Bush term and how out of touch he is with the economic and retirement security challenges facing our country. Senator McCain admits that he doesn't understand the economy and is relies on out of touch advisors like Phil Gramm, so its no wonder he doesn't understand how dangerous his plan to slash Social Security benefits for millions of seniors, survivors and people with disabilities truly is. The last thing America needs is four more years of failed and flawed Bush policies."

To view the new video, "Absolute Disgust," click here: http://www.youtube.com/watch?v=W5UcL2IC7eg

To download the DNC's new "Hands Off My Social Security" and  "My Social Security Is Not A Disgrace" signs, click here:
http://democrats.org/page/-/pdf/mccain_socialsec_sign_side2.pdf and http://democrats.org/page/-/pdf/mccain_socialsec_sign.pdf.

DNC Video
"Absolute Disgust"


TEXT: John McCain's Social Security "Disgrace"

McCain: "We are paying present day retirees with the taxes paid by young workers in America today. And that's a disgrace, it's an absolute disgrace and it's got to be fixed." [Denver Townhall, 07/07/08]

TEXT: John McCain's Alternative?

BUSH: "And the best way to reach that goal is through voluntary personal retirement accounts." [State of the Union Address, 02/02/05]

MCCAIN: "We need personal savings accounts." [Fox News Debate, 10/27/07]

MCCAIN: "But I think that the principle of privatization of Social Security is one that I think is absolutely correct." [CNN,Evans, Novak, Hunt & Shields, 5/27/00]

MCCAIN: "And the beauty of private accounts is that it does give added return on investments of taxpayers of Social Security members' money." [ABC News Transcripts, March 20, 2005, This Week With George Stephanopoulos]

MCCAIN: "Private savings accounts work. They have been proven to work." [Fox News Network, Fox Special Report With Brit Hume, 3/21/05]

MCCAIN: "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]

TEXT: The Wrong Choice On Social Security