Some on the right argue that the best solution to Social Security is to privatize it, some on the left like myself argue against its privatization.
We see Social Security as providing a safety net for the nation’s poor and elderly. We believe in protecting and strengthening Social Security for future generations.
Let me say that I believe both parties know that there needs to be legislative modifications to the program. Our big disagreement is on what those fixes will be. On the left we believe in making Social Security work without privatizing it.
President Bush started his second term with a push to privatizing Social Security. He said, in 2005 that privatization would cost the American taxpayer $2 trillion.
People on the right want to make fundamental changes to how Social Security works, they do not understand that Social Security is not just a retirement program. Social Security also aids poor and disabled Americans. Democrats believe that there are modest proposals to reform Social Security without greatly reducing benefits.
There are countries around the world that have privatized their Social Security systems, Great Britain and Chile for example. In both of those countries, privatiz