Politics

Another Republican Congressman Backs GOP Plan to Privatize and Cut Social Security for Americans

By Speaker's Press Shop

Today, another Republican Congressman ? Social Security Subcommittee member Kevin Brady of Texas ? appeared on FOX Business to reiterate the GOP mantra of privatizing and cutting Social Security for America?s seniors.

When asked about spending in programs such as Social Security and Medicare, Congressman Brady stated that the Republican plan would:

??giv[e] younger workers more choices so that money goes to work for them?? [FOX Business, 10/7/10]

That?s a euphemism for turning the guarantee of Social Security into a gamble by investing benefits on Wall Street.

The real impact of Republican Congressman Paul Ryan?s alternative budget proposal on America?s seniors from the Center On Budget And Policy Priorities (CBPP):

The Ryan plan proposes large cuts in Social Security benefits ? roughly 16 percent for the average new retiree in 2050 and 28 percent in 2080 from price indexing alone ? and initially diverts most of these savings to help fund private accounts rather than to restore Social Security solvency.

Democrats are committed to preserving the bedrock promise of Social Security for America?s seniors?of retirement security and economic stability after a lifetime of hard work and having paid into Social Security.

Full post as published by The Gavel on October 07, 2010 (boomark / email).