Pelosi: Bush Touting of Social Security Privatization Removes All Doubt That He Is Out of Touch

Pelosi: Bush Touting of Social Security Privatization Removes All Doubt That He Is Out of Touch

House Democratic Leader Nancy Pelosi released the following statement today on President Bush's remarks on Social Security privatization during a CNBC interview last night:

"President Bush's statement yesterday now removes all doubt that he is out of touch and doesn't listen to the American people who have resoundingly rejected Social Security privatization.

"The Republican privatization plan would drain trillions of dollars from the Social Security trust fund, increase the national debt, and slash future retiree benefits by more than 40 percent.

"Social Security is our commitment to the dignity and the retirement security of all Americans. The program is strong. And with our New Direction, Democrats intend to make it stronger still. We oppose any effort to privatize Social Security and will stop any plan that cuts benefits and puts America deeper in debt.

"President Bush may not be listening to reason, but Democrats are listening to the American people. We are committed to a bipartisan process to address Social Security's long-term challenges."

http://democraticleader.house.gov/press/releases.cfm?pressReleaseID=1889