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Thursday, March 31, 2005
Senate GOPers Offer Luke Warm Support for Privatization
There are very few moderate Republicans left in the Senate, and on budgetary matters -- where only 50 votes are necessary for passage -- their voices alone don't matter (as we saw this year with ANWR, the minimum wage, etc.). Nevertheless, on normal votes where 60 votes are necessary for passage, their support is crucial for the GOP. So when two Republicans voice their qualms about the Bush Social Security plan, it's highly meaningful. Kelley Bouchard has the first story on Senator Olympia Snowe (R-ME) for the Portland Press Herald:
Speaking during a roundtable discussion at the AARP office on Congress Street, Snowe said that diverting 2 percent to 4 percent of Social Security payroll taxes to personal accounts would undermine the basic premise of the program.Even Sen. Lisa Murkowski (R-AK), usually a lackey for the administration, is showing some qualms about the Bush plan. Nicole Tsong of the Anchorage Daily News reports:
She said Social Security has worked "exceptionally well" for more than 70 years and is expected to be funded until 2042. She called for a fact-based initiative to inform Americans of all ages about Social Security and develop solutions to the problems it faces.
[...]
Letters, calls and faxes to Snowe's offices on the issue of private investment accounts have run 6,897 against and 188 in favor since the president's inauguration. Many of her constituents are overwhelmed with anxiety at the prospect of losing some of their benefits, she said.
As President Bush made the case nationwide to add private investment accounts to Social Security as part of a system overhaul, U.S. Sen. Lisa Murkowski said Tuesday she would consider his proposal as an option.At this point in the game -- halfway through the 60-day bamboozlepalooza tour -- President Bush needs to be attracting supporters, not hemorrhaging them.
But that plan alone "is not sufficient" to provide full benefits to all recipients, she said.
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