Political Quotes

“President Bush and many of his supporters in Congress are trying to convince the American people about the so-called Social Security privatization plan. They are arguing that there is going to be a bargain by borrowing $2 trillion now instead of paying over $10 trillion later in the shortfall on Social Security. Once you learn the reality of the President's Social Security bargain, you understand why Americans of all ages are unwilling to buy into this Social Security privatization scheme. The $2 trillion it would cost to transition to a privatized Social Security system would do absolutely nothing to solve Social Security's long-term funding challenge. The argument on the other side was being made yesterday by the chairman of the Republican conference, Senator Santorum of Pennsylvania. He was on a television show on which I also appeared. He was confronted with the cost of the transition for privatizing Social Security. He said: I disagree with that. I mean, you remember the old Fram Oil Filter commercial--``pay me now or pay me later.'' And if we don't do something now to put a down payment for young people so they have an opportunity to have a hope for something better than the system now will provide them, we are looking at huge tax increases down the line, big benefit cuts down the line, and huge deficits. As you look at the actual costs involved with the transition under privatization, you understand why this is not the bargain that has been described.”