Democrats: Bush using scare tactics [View All]

[steve2470]

http://www.cnn.com/2005/ALLPOLITICS/01/08/demo.radio.reut/index.html

Spokesman says there's no imminent Social Security crisis

WASHINGTON (Reuters) -- Democrats accused President Bush Saturday of trying to scare Americans into believing the Social Security retirement system is in crisis to build support for his private investment account plan.

In the Democratic Party's weekly radio address, U.S. Rep. Charles Rangel of New York said there was no imminent crisis with the program created during the Great Depression in 1935 to help lift the elderly out of poverty.

"The White House wants Americans to believe that Social Security is heading for an iceberg," he said. "They think that, by scaring people, they will help increase support for privatization."

Rangel said Bush's plan to divert a portion of Social Security taxes into private accounts that workers could invest in stocks and bonds will add to the system's financial woes.
<snip>