http://www.afscmeblog.org/2008/03/20/mccain-puts-retirement-at-risk/March 20th, 2008
For 70 years, Social Security has worked for America, providing guaranteed benefits in retirement, and to workers and their families in the event that they become disabled or die before retirement. Sen. John McCain, as noted in the blog Crooks and Liars, is promoting a dangerous and irresponsible scheme to privatize Social Security.
McCain told the Wall Street Journal recently that he still supports President Bush’s discredited 2005 push to divert Americans’ hard earned Social Security into risky private accounts, which failed because of widespread opposition, including from AFSCME. His plan would hurt all of America’s working families, and would lead to huge cuts in guaranteed benefits that workers have earned and are counting on. Matthew Yglesias at The Atlantic gets it right when he says that McCain’s proposal is “a lethal combination of bad ideas and total lack of comprehension.”
While he may be a maverick, Senator McCain’s plan would radically transform Social Security from guarantee of retirement security for millions into a gamble.