Senator McCain Can’t Have it Both Ways

Sept. 18, 2008 - PRLog -- THE NATIONAL COMMITTEE TO PRESERVE SOCIAL SECURITY AND MEDICARE
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“We will come back from this crisis, but right now we are the victims of greed, excess and corruption on Wall Street” and “It’s a very tough crisis and we are the victims of the violation of the social contract between capitalism and the American citizen”...Senator John McCain, CNN, September 16, 2008
http://www.cnn.com/2008/POLITICS/09/16/candidates.wall.street/index.html#cnnSTCVideo


Our current financial market crises has led Presidential candidate Senator John McCain to decry the excesses of Wall Street; however, he continues to support plans to turn Social Security money over to the same Wall Street financiers he now criticizes. The National Committee’s millions of members and supporters ask:  Why should Social Security beneficiaries gamble their guaranteed benefit on a system the Senator himself says is corrupt?

“If Senator John McCain believes the American people are the victims of ‘greed, excess, and corruption on Wall Street’ how can he continue to justify his support for a plan which would send billions of Social Security dollars to Wall Street through private accounts?  Social Security privatization would put retirees’ guaranteed benefits in the hands of the very same people Senator McCain chastises today. Investing on Wall Street has always been and continues to be a gamble, which is why the American people rejected Social Security private accounts years ago.  Yet privatization remains a part of the GOP platform and Senator McCain’s Social Security strategy.   Senator McCain can’t have it both ways.  We deserve a straight answer on how Senator McCain will protect America’s true social contract, which exists between generations of working families who’ve contribute to and depend on Social Security, without destroying that contract through privatization”.  ...Barbara B. Kennelly, President/CEO

Media Inquiries to:
Pamela Causey 202-216-8378/202-236-2123
Kim Wright 202-216-8414
www.ncpssm.org

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The National Committee to Preserve Social Security and Medicare is a nonpartisan, nonprofit organization which works to protect, preserve and promote the financial security and the well being of current and future generations of Americans.