Campaign 2010

Sep 13, 2010

John Koster’s Support For Social Security Privatization Wrong For Washington Seniors

John Koster’s support for privatizing Social Security and risking Washington seniors’ retirement security on the stock market – a fight he’s been fighting for a decade – is becoming increasingly clear.

At a campaign event earlier this year, Koster acknowledged his support for privatization, going back at least a decade: “I advocated for those ten years ago,” Koster said of private accounts.  Koster goes on to say that “individual retirement accounts will work.”

“John Koster’s support for privatizing Social Security and gambling with seniors’ retirement security on Wall Street makes it clear he’s not on the side of Washington seniors,” said Andy Stone, Western Regional Press Secretary for the Democratic Congressional Campaign Committee.  “And Koster wanted to risk Social Security on the stock market 10 years ago, which would have meant decimating Washington seniors’ retirement benefits by giving the Social Security reins to the same greedy Wall Street traders that drove our economy into the ditch.”

Background

  • At the Whidbey Island Republican Luncheon on February 16, during a discussion about reducing entitlement spending, John Koster claimed that he supported private Social Security accounts a decade ago. [Whidbey Island Republican Luncheon, 2/16/10]