Talking Points Memo – House Republicans Look To Privatize Social Security
Introduced by Rep. Pete Sessions (R-TX), who also chairs the House’s campaign efforts at the NRCC, the “Savings Account For Every American Act” would allow people to immediately opt out of Social Security in favor of a private “S.A.F.E.” account. Eventually the program would expand to let employers send their matching contribution to workers’ Social Security to a “S.A.F.E.” account as well…
House Republicans on Friday introduced legislation that would allow workers to partially opt out of Social Security immediately, and fully opt out after 15 years.
Joining Congressman Sessions as co-sponsors of the GOP’s Social Security privatization bill are: Rep. Marsha Blackburn (R-TN), Rep. Dan Burton (R-IN), Rep. Jeb Hensarling (R-TX), Rep. Randy Neugebauer (R-TX), Rep. Lamar Smith (R-TX) and Rep. Lee Terry (R-NE).
We’ve seen this before. In 2005, House Republicans came out in full support of President Bush’s plan to privatize Social Security.
As @NancyPelosi says, the American people didn’t stand for it then and won’t stand for it now:
Americans rejected this in ’05-@TPM: House Republicans Look To Privatize Social Security http://goo.gl/wCNy6 #GOPrecycles