Republican Leaders Back Plan to Privatize Social Security

Press Release

By:  John Larson
Date: Sept. 14, 2010
Location: Washington, DC

Today, U.S. Congressman John B. Larson (CT-01), Chairman of the House Democratic Caucus, and the House Democratic Caucus Congressional Task Force on Seniors blasted top-ranking Republicans for their endorsement of a plan to privatize Social Security and turn Medicare into a voucher program. The plan was included in the book, "Young Guns: A New Generation of Conservative Leaders," written by top House Republicans Rep. Eric Cantor (VA-07), Rep. Paul Ryan (WI-07), and Rep. Kevin McCarthy (CA-22).

The book includes the most sweeping Republican support for undermining and destroying these bedrock programs since they tried and failed to privatize Social Security in 2005.

"Congressional Republicans are threatening to send America back to the stone-age with this ill-conceived plan," said Representative John B. Larson (CT-01), Chairman of the House Democratic Caucus. "Republicans are once again trying to undermine and dismantle Social Security and Medicare, vital programs that millions of Americans rely on. Meanwhile, Democrats are fighting to protect these programs and America's seniors."

The Republican plan is a drastic attempt to balance the budget on the backs of our nation's workers, children, the disabled, and seniors. Widely supported by Congressional Republicans, the plan would cut Social Security retirement and survivor benefits for all workers. It would divert trillions of dollars from the Social Security Trust Fund into private accounts and subject workers' basic retirement security to market volatility and the risk of losses. It would turn Medicare into a voucher program that would force seniors to purchase insurance on the private market.

The Seniors Task Force, created by Congressman Larson, has more than 40 members from the Democratic Caucus and is working to protect seniors' rights and raise awareness of policies that will improve the health and well-being of America's seniors. For more information about the Seniors Task Force, please go to http://www.dems.gov/seniors.