Boxer slams White House Social Security plan to Truckee seniors
April 4, 2005
TRUCKEE – Sen. Barbara Boxer had sharp criticism for White House plans to overhaul and privatize Social Security, speaking at a senior center here over the weekend.
Before a packed room, Boxer said President Bush’s privatization plans for Social Security amounted to going from a “guaranteed benefit to a guaranteed gamble.”
Her stop in Truckee on Saturday was part of a broader effort to marshal opposition to a plan that she says will effectively end Social Security. The 70-year-old national retirement, disability and life insurance program has been among the top national topics on the political scene this year. The White House and most Democrats disagree on reforms for the program that many believe will begin failing within the next 35 years.
President Bush has surfaced a plan to allow workers to invest a portion of their retirement in the stock market, a move that Boxer has been among the most vocal in opposing.
Allowing workers to invest their Social Security in the stock market would add trillions of dollars of debt to the nation, cripple the current national retirement system, and put money in the pockets of Wall Street investors, Boxer said.
Senior citizens at the meeting, who admitted the future of Social Security was on their minds, said the senator’s appearance was welcome.
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“It’s a bad deal,” said Al Gammell, of privatization plans for Social Security. Boxer’s talk helped answer some questions he had.
Joyce Scribner, said her concerns over the future of Social Security are not overwhelming, but she enjoyed Boxer’s take on the subject.
“I feel Social Security is pretty secure,” said Scribner. “I have faith in people like Barbara Boxer.”