Congressman Watt Comments on President Bush's Visit to North Carolina
February 10, 2005
Washington, DC - Congressman Mel Watt (12th District - North Carolina) made the following statement about President Bush's visit to North Carolina to talk about Social Security:
"I'm always happy to have the President visit North Carolina. Unfortunately, the citizens of North Carolina who could be most adversely affected by the President's plan have not been invited to the discussion.
The President has not provided specific details on his privatization plan. However, even the President acknowledges that private accounts would drain money from the Social Security Trust Fund and that would make the financial situation worse for Social Security and for the overall federal budget. Perhaps during his trip to North Carolina the President will shed more light on his specific proposal and explain how taking money out of Social Security to put into private accounts could possibly make sense or be in the best interest of seniors and others who rely on Social Security to stay out of poverty. I simply haven't been able to understand how the President thinks this all adds up."