Officials continue to support Social Security
privatization even with GAO Report...
Despite what some may claim, Social Security
privatization is not a dead issue to the Bush
Administration
In a D.C. Superior Court room last week, Karl Rove was seen
working on a PowerPoint presentation about Social Security reform
while he waited to be dismissed from a jury pool. This week, new
Treasury Secretary Henry Paulson touched on privatization in his
first speech since taking office on July 10.
Paulson told the Columbia University business school that
“The biggest economic issue facing our country is the growth in
spending on the major entitlement programs: Medicare, Medicaid, and
Social Security.”
He went on to say that he would not run from complicated
Social Security reform and admired President Bush’s courage in
addressing the issue. Days before Paulson’s remarks, the Government
Accountability Office (GAO) released a report detailing how Social
Security privatization would reduce guaranteed benefits and increase
retirement risks for Baby Boomers.
“The GAO report echoes what the American people have
been telling President Bush for months now: Privatization of Social
Security is a risky, costly idea and quite simply, we don’t want
it,” said Edward Coyle,
Executive Director of the Alliance.
Now,
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