WASHINGTON — Thousands cheered at a Capitol Hill rally April 26 as lawmakers and leaders of labor, retirees, women, youth of color and the disabled vowed “no compromise” in the battle to block President Bush’s plan to privatize Social Security.
Calling Social Security “the most profound and effective program in our history,” Congresswoman Diane Watson (D-Calif.) told an April 2 town hall meeting sponsored by the California Alliance of Retired Americans (CARA) that “with Social Security we weave together a safety net that guarantees our independence and economic security.” Watson pointed out that the investment firms pre-selected to participate in President Bush’s privatization scheme were his largest campaign contributors. “These Wall Street sharks will charge anywhere from 15 to 20 percent to ‘manage’ private accounts,” she warned, resulting in benefit cuts and loss of disability and survivors’ benefits.
WASHINGTON — President George W. Bush’s Social Security road show ran off the road last week and he can’t seem to get it back on track. The uproar was unleashed April 5, when he cast doubts on the creditworthiness of the federal government.