Ron Klein on Social Security

No personal accounts, no privatization

Pres. Bush has vowed to revive his attempts next year to "fix" Social Security's long-term financing, and Democrats are warning against what they call Republican plans to "privatize" the popular program. The issue is of vital concern to South Florida, home to more than 880,000 Social Security recipients. Advocacy groups accused Rep. Shaw of proposing investment accounts that they think would undermine the current system. Klein said, "He's offering personal accounts, which is a form of privatization, and borrowing billions to pay for it." Klein favors modernizing Social Security to trim costs while looking to a bipartisan commission to recommend ways to keep the system solvent. Shaw said he does not intend to cut benefits or scuttle the traditional program. He said that his investment accounts would supplement Social Security, not replace it. "I don't privatize it," Shaw said. "I don't change the existing system. I do add opportunity, which will let workers choose investments." Source: Campaign website, www.ronklein2006.com, "Issues" Sep 27, 2006

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