DENNIS A. CARDOZA: “the authors of the Congressional Republican Social Security privatization plan are not being straight with the American…”

“the authors of the Congressional Republican Social Security privatization plan are not being straight with the American people. The Republicans claim that the plan that they introduced last month includes a lockbox that prevents the use of Social Security funds for other programs. This could not be further from the truth. Under their privatization plan, Social Security's surplus cash would continue to go to the government, which would continue to spend it. Instead of a Social Security trust fund, account holders get Treasury bonds. Even the bill's Republican author, the Social Security Subcommittee chairman, has acknowledged that under their bill the cash can still be used in the way it is now. Over the last 4 years, the Republicans have raided $670 billion from the Social Security trust fund to help pay for tax breaks. Despite their rhetoric now, the new Republican Social Security privatization scheme proves that they are up to their old tricks. As we prepare for the 70th anniversary of Social Security next month, the American people deserve a plan that strengthens Social Security for future generations and stops the raid on the Social Security trust fund. ____________________”