Democrat supports SS privatization
By LAURA MECKLER
(AP) Rolls of blank social security checks run through printers and are processed Friday, Feb. 11, 2005
WASHINGTON (AP) - A second Senate Democrat said Friday he was open to President Bush's idea of letting people divert some of their Social Security taxes to personal retirement accounts as Republican Party leaders tried to allay re-election fears among wavering GOP lawmakers.
Sen. Tom Carper, D-Del., said any plan should be bipartisan, in part to give lawmakers from both parties political cover for supporting major changes to such the popular retirement program.
"I don't believe that we should rule out the accounts," Carper said Friday in an interview. "We have a very low savings rate in this country and clearly need to find ways to stimulate savings, and I think we should be open to a wide range of ideas and not dismiss them out of hand."
Sen. Ben Nelson, D-Neb., also has said he is open to discussing the private accounts, saying he wants to see details.
(AP) Senator Jon Corzine, D-N.J., discusses President Bush's proposed changes in Social Security during...No Senate Democrat has signed onto a Social Security bill, and most say they are absolutely opposed to taking money from the traditional Social Security system to create these accounts. Several Democrats do like the idea of creating personal accounts on top of regular Social Security benefits.
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