Posted on September 7, 2008

Obama: Don’t Privatize Social Security; McCain: Yes, Er No, Er Maybe

At a national AARP event, Barack Obama has reiterated his opposition to privatization of Social Security:

“[S]ecuring your future starts with protecting Social Security… For millions of Americans, it’s the very difference between a comfortable retirement and falling into poverty. More than half of seniors depend on it for more than half of their income. And as the first baby boomers become eligible for benefits this year, there are steps we can take to secure its future for generations to come. That doesn’t mean embracing George Bush’s failed privatization scheme, as John McCain has.

That’s a clear statement. John McCain appears, or appeared, to be on the other side of the issue. He has

OTOH, he has also backpedaled. He has said that he “has not made [Social Security privatization] a campaign promise.” He has even declared, ā€œIā€™m not for, quote, privatizing Social Security. I never have been. I never will be.ā€

Where does McCain really stand on privatization? Who knows. It sounds like he was orginally for it, but decided to hedge his bets once he saw how unpopular the Bush plan was.

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