Kendrick Meek: “we are giving it too much credit by calling it a plan. It is a philosophy. The proponents are saying, and they have now…”

“we are giving it too much credit by calling it a plan. It is a philosophy. The proponents are saying, and they have now come up with a new approach, it is different than the privatization proposal, but it is just like the privatization proposal. {time} 2145 It would take a portion of the Social Security trust fund revenues and put them into private accounts. That is privatization. It does not matter whether the total size of the account is limited to an amount each year as it relates to the Social Security trust fund rather than a percentage for the participants' payroll taxes. The gentleman from Ohio and I are very familiar with the Potomac two-step. We know what it means to say, Look over here but we're going over there. And so it is important that we not only come to this floor and let the Members know and say it out loud, A portion of what? How much? What is a portion? I can guarantee you it is in the trillions. And if we start talking about, well, it is not necessarily the President's private account plan, but it is dealing with private accounts, that is privatization. I am sorry, any way you cut it, it is privatization. As we learn more about and as we start to unmask this GOP leadership vision, which is based upon theory, not fact, we will start to understand as it relates to the privatization scheme and how they are trying to get there.…”