Senate Democrats

Reid Statement on Republican Social Security Privatization Scheme

Statement of Senate Democratic Leader Harry Reid on the Congressional Budget Office’s analysis of House Republicans’ Social Security privatization scheme:

Washington, DC – “The Congressional Budget Office’s new analysis proves that this latest privatization gimmick is really just more of the same. Contrary to bogus claims by some Republicans, this latest proposal would do nothing to stop their own repeated raids of Social Security. Instead, like the President’s privatization plan, it would require significant cuts in guaranteed benefits and a massive and permanent increase in our nation’s debt.

“Democrats remain strongly opposed to any such privatization scheme. We are working to ensure all Americans have a secure retirement by strengthening Social Security, encouraging more Americans to save and protecting hard earned pensions.”