Oct 20, 2010
DCCC TV Ad Hits Randy Demmer (MN-01) on Privatizing Social Security
The DCCC released today an Independent Expenditure campaign TV ad hitting Randy Demmer (MN-01) on his support of privatizing Social Security. The DCCC ad will begin running tomorrow.
Watch the ad about Randy Demmer’s support of privatizing Social Security:
National Republican Congressional Committee (NRCC) Chairman Pete Sessions said that if Republicans become the Majority party, their plan is to go back to their “exact same” agenda under President George W. Bush. Privatizing Social Security was a top priority for President Bush and strongly supported by Republican Leader John Boehner and his colleagues in the House.
Randy Demmer Supports The Privatization of Social Security:
When asked at the Winona Youth GOP Debate in 2008 if he supports the privatization of Social Security, Randy Demmer told the audience he said he would support giving people in his age group and younger the chance to put some of their retirement money in private investments instead of Social Security. Demmer is 53. [Post-Bulletin, 9/10/10]
Libertarian CATO Institute: There’s No Difference Between Privatization and Personal Accounts
According to the Star Tribune, “The word ‘privatization’ has been part of the Social Security debate for many years and has been used by many Republicans. The Cato Institute, a libertarian think tank in Washington and an advocate of the idea, used to call its effort ‘the project on Social Security privatization.’” [Star Tribune, 8/5/02]
Social Security Privatization Will Hurt All Americans, Young and Old:
What will Social Security privatization do? Privatization will replace Social Security's guaranteed defined benefits with individual investment accounts. In other words, privatization would take money out of Social Security and have workers invest instead in Wall Street. This transfer would drain the Social Security Trust Fund and would force large reductions in Social Security benefits and unfairly burden all Americans, young and old, with trillions of dollars in additional government debt. [National Committee To Protect Social Security and Medicare]