February 9, 2011
Washington, D.C. – Jon Summers, spokesman for Nevada Senator Harry Reid, released the following statement in response to Republicans rejecting common-sense measures for reducing spending at the same time that they push for extreme measures like undermining Social Security:
“We have to be smart about cutting government spending. Democrats want to reduce spending by cutting waste and excess like government giveaways to oil companies, but Republicans are already pushing extreme measures like privatizing or making deep cuts in Social Security. In the last twenty-four hours, one leading Republican proposed raising the retirement age not once, but ‘every several years.’ And Fox News is reporting that Social Security is next up on Sen. Rand Paul’s chopping block, right after aid to Israel.
“At the same time that Republicans are threatening to undermine Social Security, they are defending $20 billion in government giveaways to oil companies that are raking in record profits, arguing that these handouts should be off the table when it comes to spending cuts. Democrats believe Republicans have their priorities backwards. We should be getting spending under control by cutting waste and excess, while protecting benefits like Social Security that Americans have earned, and that support our economy.”
Social Security Next Up on Rand Paul’s “Chopping Block.” Fox News reported, Kentucky Republican Rand Paul is the author of a sweeping bill to cut $500 billion in domestic and defense spending - and Social Security is next up on the chopping block, the Tea Party freshman said Tuesday. [Fox News, 2/8/10]
Congressional Budget Office: “Roadmap” Will Privatize Social Security. The CBO wrote in a letter to Ryan about his roadmap, “A system of individual accounts would be established in 2012. In that year, workers who are age 55 or younger would be able to participate in voluntary individual accounts, funded with a portion of their payroll taxes.” [Congressional Budget Office, 1/27/10]