DNC to McCain: How You Like Privatization Now?
The DNC is gleefully circulating an AP article that flags another obvious, but important, shortcoming of Sen. John McCain’s domestic platform when viewed under
Jul 31, 202054.8K Shares1.9M Views
The DNC is gleefully circulating an AP article that flags another obvious, but important, shortcoming of Sen. John McCain’s domestic platform when viewed under the harsh light of the market crisis.
The Democrats observe: “In an AP article today, Glen Johnson highlights the difficulty John McCain is having trying to explain his long held position in support of George Bush’s failed 2005 privatization of Social Security in the wake of this week’s economic turmoil.”
The article reportsthat McCain’s privatization position now looks like bad policy and terrible politics:
“„McCain defends retirement accounts amid stock dive
“„Wall Street turmoil [left McCain] defending his support for privately investing Social Security money in the same markets that had tanked earlier in the week…. A headline Friday in the Manchester, N.H., Union Leader, the leading paper in that battleground state, underscored the political challenge. “Pension funds for workers take a hit,” read a story about a roughly $500 million decline the past three months in the state’s public pension fund.
McCain counters that he does not support full-bore “privatization.” He has not exactly been pushing the issue at all, recently. Social Security is unlikely to break through as a national campaign issue right now, either, but it could gain traction in swing states with large elderly populations. The Republicans’ old promises to shrink government and ‘Let The Market Decide’ just don’t have the same ring.
Dexter Cooke
Reviewer
Dexter Cooke is an economist, marketing strategist, and orthopedic surgeon with over 20 years of experience crafting compelling narratives that resonate worldwide.
He holds a Journalism degree from Columbia University, an Economics background from Yale University, and a medical degree with a postdoctoral fellowship in orthopedic medicine from the Medical University of South Carolina.
Dexter’s insights into media, economics, and marketing shine through his prolific contributions to respected publications and advisory roles for influential organizations.
As an orthopedic surgeon specializing in minimally invasive knee replacement surgery and laparoscopic procedures, Dexter prioritizes patient care above all.
Outside his professional pursuits, Dexter enjoys collecting vintage watches, studying ancient civilizations, learning about astronomy, and participating in charity runs.
Latest Articles
Popular Articles