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The real story about opposition
to privatizing Social Security: Sequence
of events of the President's Social Security Commission |
Here
are some facts about the actions the President's
Commission had taken at the time I introduced my
amendment:
- According to the Commission's
web site, President Bush created the
bipartisan 16-member commission on May 2, 2001,
"to study and report specific
recommendations to preserve Social Security for
seniors while building wealth for younger
Americans." One of the Commission's
"Guiding Principles" was that,
"Modernization must include individually
controlled, voluntary personal retirement
accounts, which will augment Social
Security." According to the web site, the
Commission required $770,000 of taxpayers’
dollars to do its work.
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- At that
time, there seemed to be no doubt that the
Commission’s mission was to partially
privatize Social Security. On May 2nd
, USA Today ran a story with the
headline, "Commission Members All Back
Privatization," which reported that all of
the members chosen for the commission supported
the President’s proposal "to let workers
invest some of their payroll taxes in private
accounts." White House Spokesman Ari
Fleischer told the paper that it should not come
as a surprise that the President would appoint
commission members who believed "that
personal retirement accounts are the way to save
Social Security."The Wall Street Journal
reported on May 10, "It's no secret that
President Bush stacked his bipartisan Social
Security commission with members who agree with
his goal of creating private retirement
accounts."
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"I do believe that
the Social Security commission staff report issued
last week is a cynical effort to trash Social
Security and under cut its public support in order
to pave the way for cutting Social Security’s
guaranteed benefits and turning much of the program
over to Wall Street. And I do most certainly believe
that the commission is a stacked deck."
--Congressman David Obey, day of the vote, July 25, 2001
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- After the
Commission held its first meeting on June 11,
2001, the Associated Press ran a story with the
headline, "Bush’s Social Security
Commission Plans for Privatization,"
reporting that the purpose of the Commission’s
meeting was "developing a plan to let
younger workers invest some of their payroll
taxes in the stock market." This story also
reported that the Commission "must persuade
the public to privatize Social Security at a
time when the stock market has plunged."
- In July 2001, the
Commission began circulating drafts of its
Interim Report, which emphasized the argument
that the Social Security system is
"broken." The Los AngelesTimes
reported on July 20, 2001, that the draft
interim report "represents an initial step
in the commission’s strategy for generating
support for allowing workers to set up private
accounts with some of their payroll taxes."
Convincing people the current Social Security
system is in the road to financial ruin, the
Times reported, "will put people in a frame
of mind to accept the huge shift to partial
privatization of Social Security."
- July 25, 2001-
Filner Amendment on Social Security voted on in
the House
[A brief history of the Filner
Amendment]
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