A McCain What If We Must Not Let Happen
http://news.fayetteville.net/articles/245/1/A-McCain-What-If-We-Must-Not-Let-Happen/Page1.html
Alphonso Whitfield
If we know what life is really worth we will seek to build our heaven here on earth!!! By Alphonso Whitfield
Published on 09/19/2008
CONGRESSMAN JACKSON: JOHN McCAIN AND SUPPORTERS WOULD HAVE PUT SOCIAL
SECURITY BENEFITS IN HANDS OF LEHMAN BROTHERS
Congressman Jesse L. Jackson, Jr. today said that John McCain's
proposal to privatize Social Security puts the American people and
economy in peril. While the country grapples with one of the worst
financial crises since the Great Depression, Jackson said McCain is
"completely out of touch and in the dark, blinded by right-wing
ideology and orthodoxy."
SECURITY BENEFITS IN HANDS OF LEHMAN BROTHERS
Congressman Jesse L. Jackson, Jr. today said that John McCain's
proposal to privatize Social Security puts the American people and
economy in peril. While the country grapples with one of the worst
financial crises since the Great Depression, Jackson said McCain is
"completely out of touch and in the dark, blinded by right-wing
ideology and orthodoxy."
CONGRESSMAN JACKSON: JOHN McCAIN AND SUPPORTERS WOULD HAVE PUT SOCIAL
SECURITY BENEFITS IN HANDS OF LEHMAN BROTHERS
Congressman Jesse L. Jackson, Jr. today said that John McCain's proposal to privatize Social Security puts the American people and economy in peril. While the country grapples with one of the worst financial crises since the Great Depression, Jackson said McCain is
"completely out of touch and in the dark, blinded by right-wing ideology and orthodoxy."
Jackson said, "John McCain may be running hard for the White House, but his reckless policies and philosophy are catching up with him. He can't escape the dangerous, privatization proposals that he's espoused for years."
"John McCain talks about change, but walks lock-step with George W. Bush in the same, wrong direction. He offers more of the same, bad policies that created the mess we're in. That's not a maverick, that's a mimic," Jackson said.
Appearing yesterday on MSNBC's "Morning Joe," Congressman Jackson stated that today's economic crisis would be even more devastating if Bush and McCain had succeeded in privatizing Social Security. Jackson said: "Can you imagine if the Congress of the United States over the last couple of years...had allowed Social Security to be privatized and Lehman Brothers and Merrill Lynch had our Social Security benefits? Can you imagine the devastating implications for senior citizens, in fact, all Americans, if we'd allowed that to happen?"
In his Washington Post column, Eugene Robinson today raises the same, troubling scenario. He writes this: "Here's something that really ought to grab everyone's attention: McCain supports George W. Bush's idea of channeling at least some Social Security funds into
"personal accounts" that individuals would invest on Wall Street. Some of that money would have been entrusted to firms such as Bear Stearns (failed), Lehman Brothers (failed) and Merrill Lynch
(sold at a fire sale). Imagine what this crisis would be like if Americans' Social Security benefits were evaporating along with their housing values and their 401(k) accounts." Jackson concluded: "John McCain has critical questions to answer about his economic policies. How would putting Social Security benefits at market risk make seniors more secure? Why should Social
Security be in the hands of Wall Street's "casino culture"? Do the economy's underlying fundamentals remain "strong"? Or, is this country of "whiners" just in a "mental recession"?"
During the current session of Congress, Members of the U.S. House of Representatives have sponsored legislation to privatize Social Security, putting citizens' safe, secure retirement funds at the whims of the stock market. They are:
H.R.1090
Title: Social Security Guarantee Plus Act of 2007
Sponsor: Rep. Ron Lewis [R-KY-2]
Introduced: 2/15/2007
Co-sponsors: 3
Rep. Roscoe G. Bartlett [R-MD-6]
Rep. John Abney Culberson [R-TX-7]
Rep. Jerry Weller [R-IL-11]
H.R.2002
Title: Individual Social Security Investment Program Act of 2007
Sponsor: Rep. Johnson, Sam [R-TX-3]
Introduced: 4/23/2007
Cosponsors: (none)
H.R.4181
Title: Securing Medicare and Retirement for Tomorrow Act of 2007
Sponsor: Rep. Flake, Jeff [R-AZ-6]
Introduced: 11/14/2007
Cosponsors: 7
Rep. Paul C. Broun [R-GA-10]
Rep. Tom Feeney [R-FL-24]
Rep. Luis G. Fortuno [R-PR]
Rep. Virginia Foxx [R-NC-5]
Rep. Trent Franks [R-AZ-2]
Rep. Darrell E. Issa [R-CA-49]
Rep. Sheila Jackson-Lee [D-TX-18]
H.R.6110
Title: Roadmap for America's Future Act of 2008
Sponsor: Rep. Paul Ryan [R-WI-1]
Introduced: 5/21/2008
Cosponsors: 8
Rep. Roscoe G. Bartlett [R-MD-6]
Rep. Marsha Blackburn [R-TN-7]
Rep. Michael C. Burgess [R-TX-26]
Rep. John Campbell [R-CA-48]
Rep. Jeb Hensarling [R-TX-5]
Rep. Sue Wilkins Myrick [R-NC-9]
Rep. Devin Nunes [R-CA-21]
Rep. Tom Price [R-GA-6]
SECURITY BENEFITS IN HANDS OF LEHMAN BROTHERS
Congressman Jesse L. Jackson, Jr. today said that John McCain's proposal to privatize Social Security puts the American people and economy in peril. While the country grapples with one of the worst financial crises since the Great Depression, Jackson said McCain is
"completely out of touch and in the dark, blinded by right-wing ideology and orthodoxy."
Jackson said, "John McCain may be running hard for the White House, but his reckless policies and philosophy are catching up with him. He can't escape the dangerous, privatization proposals that he's espoused for years."
"John McCain talks about change, but walks lock-step with George W. Bush in the same, wrong direction. He offers more of the same, bad policies that created the mess we're in. That's not a maverick, that's a mimic," Jackson said.
Appearing yesterday on MSNBC's "Morning Joe," Congressman Jackson stated that today's economic crisis would be even more devastating if Bush and McCain had succeeded in privatizing Social Security. Jackson said: "Can you imagine if the Congress of the United States over the last couple of years...had allowed Social Security to be privatized and Lehman Brothers and Merrill Lynch had our Social Security benefits? Can you imagine the devastating implications for senior citizens, in fact, all Americans, if we'd allowed that to happen?"
In his Washington Post column, Eugene Robinson today raises the same, troubling scenario. He writes this: "Here's something that really ought to grab everyone's attention: McCain supports George W. Bush's idea of channeling at least some Social Security funds into
"personal accounts" that individuals would invest on Wall Street. Some of that money would have been entrusted to firms such as Bear Stearns (failed), Lehman Brothers (failed) and Merrill Lynch
(sold at a fire sale). Imagine what this crisis would be like if Americans' Social Security benefits were evaporating along with their housing values and their 401(k) accounts." Jackson concluded: "John McCain has critical questions to answer about his economic policies. How would putting Social Security benefits at market risk make seniors more secure? Why should Social
Security be in the hands of Wall Street's "casino culture"? Do the economy's underlying fundamentals remain "strong"? Or, is this country of "whiners" just in a "mental recession"?"
During the current session of Congress, Members of the U.S. House of Representatives have sponsored legislation to privatize Social Security, putting citizens' safe, secure retirement funds at the whims of the stock market. They are:
H.R.1090
Title: Social Security Guarantee Plus Act of 2007
Sponsor: Rep. Ron Lewis [R-KY-2]
Introduced: 2/15/2007
Co-sponsors: 3
Rep. Roscoe G. Bartlett [R-MD-6]
Rep. John Abney Culberson [R-TX-7]
Rep. Jerry Weller [R-IL-11]
H.R.2002
Title: Individual Social Security Investment Program Act of 2007
Sponsor: Rep. Johnson, Sam [R-TX-3]
Introduced: 4/23/2007
Cosponsors: (none)
H.R.4181
Title: Securing Medicare and Retirement for Tomorrow Act of 2007
Sponsor: Rep. Flake, Jeff [R-AZ-6]
Introduced: 11/14/2007
Cosponsors: 7
Rep. Paul C. Broun [R-GA-10]
Rep. Tom Feeney [R-FL-24]
Rep. Luis G. Fortuno [R-PR]
Rep. Virginia Foxx [R-NC-5]
Rep. Trent Franks [R-AZ-2]
Rep. Darrell E. Issa [R-CA-49]
Rep. Sheila Jackson-Lee [D-TX-18]
H.R.6110
Title: Roadmap for America's Future Act of 2008
Sponsor: Rep. Paul Ryan [R-WI-1]
Introduced: 5/21/2008
Cosponsors: 8
Rep. Roscoe G. Bartlett [R-MD-6]
Rep. Marsha Blackburn [R-TN-7]
Rep. Michael C. Burgess [R-TX-26]
Rep. John Campbell [R-CA-48]
Rep. Jeb Hensarling [R-TX-5]
Rep. Sue Wilkins Myrick [R-NC-9]
Rep. Devin Nunes [R-CA-21]
Rep. Tom Price [R-GA-6]