Club for Growth Issues Press Statement on DeMint Plan

Andrew Roth

We issued this press statement yesterday:

Club for Growth President Pat Toomey Slams "Economic Luddites" In Their Instant Opposition to DeMint Proposal "The DeMint proposal is one small step for Social Security reform and one giant leap for ownership through personal accounts that is vital for our economic growth. But economic Luddites, like Nancy Pelosi, have made clear they won't even consider any proposal that doesn't retain the status quo of total government control of retirement funds. "Larger accounts and a broad range of investment options will be essential for substantial economic benefit, but this is an excellent first step. It will reinvigorate the debate on Social Security reform and slams the lid to the Social Security surplus on Congress' fingers. "This proposal also removes the risk and cost fig leaves that opponents have hidden behind. U.S. Treasury securities are risk-free and American workers are already generating the financing of these personal accounts through their payroll taxes. "Despite being risk-free and funded, opponents of Social Security reform didn't even wait for the ink to dry on similar legislation in the House before declaring it unworthy of consideration. It's a shame they aren't that quick to come up with sensible proposals of their own."

Posted by Andrew Roth on June 24, 2005 11:15 AM to Social Security Choice