Wall St. will love Social Security privatization
February 08, 2005
The more we hear about the plans the Bush Administration and Congressional Republicans have for Social Security the more frightening they become. Once again it is clear that the issue is one of ideology holding supremacy over evidence and reality. All the independent analyses that have been reported suggest that Social Security is not facing an immediate crisis.

However, in order to promote their plan of privatizing the system, Bush and his radical cronies on Capitol Hill are spreading the myth that Social Security faces an immediate deficit. But this seems is totally untrue. And just as they gave Bush a free pass on Iraq, the media are doing nothing to correct the illusion.

Clearly what the Republicans want to do is send money directly from the pockets of Americans concerned about saving for their retirement to their cronies on Wall Street. For this GOP there seems to be nothing in the nation that is not up for sale to the highest bidder. Since Social Security payments come largely from the contributions of current workers, privatization itself is what will bankrupt the system. And what do we hear from the Administration? They are now floating ideas for ways to reduce payments to those who retire. This is my retirement promise and I resent it.

They don't mind huge deficits in federal spending, but ideology demands an assault on Social Security - the most popular and successful federal program. What American values are served by these proposals besides that of pure greed?


--Commentary by Justin Head

Cape Girardeau, MO


Editor's Note: Read the GOP fact sheet here.

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Bush ideology trumps everythingajournet256602005-02-15 11:42:23