Originally published June 25 2005
Democrats declare private accounts issue dead
by Mike Adams, the Health Ranger, NaturalNews Editor
A recent Reuters articles says that while Democrats think they've defeated President Bush and the Republicans on the issue of using private accounts, they will still put up a fight against any new Social Security reforms.
Democrats say President George W. Bush's plan to restructure Social Security is dead but vow to keep attacking it until he publicly drops the individual investment account idea.
Debbie Stabenow, a Michigan Democrat, echoing comments by other Democrats about Bush's plan to let workers invest a portion of their Social Security taxes in stocks and bonds.
"I think it's clear the votes are not there to be able to move that forward."
But with Bush showing no signs of giving up, private account opponents say they need to stay on the offensive.
"We're not going to leave any stoned unturned in trying to defeat privatization of Social Security," said Brad Woodhouse, spokesman for Americans United to Protect Social Security.
His group has arranged town hall meetings, Washington protests and other events to fight Bush's plan.
The groups said they plan to carry their anti-privatization message to rural communities, arguing that people in those areas rely on Social Security more than others.
Democrats say they will not negotiate with Republicans on the underlying issue of shoring up Social Security's finances until private accounts are off the table.
As a result Republicans are struggling to craft legislation that would overhaul the popular retirement program.
Senate Finance Committee Chairman Charles Grassley presented to his Republican members last week a variety of proposals to address Social Security's solvency including raising the retirement age.
He told Iowa reporters on Wednesday there is still no consensus among Republicans.
In the House of Representatives, Ways and Means Committee Chairman Bill Thomas, a California Republican, is crafting broad retirement legislation that would encourage additional retirement savings as well as address Social Security.
House Speaker Dennis Hastert, an Illinois Republican, would not predict when lawmakers would have legislation.
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