[Congressional Record Volume 148, Number 63 (Thursday, May 16, 2002)]
[House]
[Page H2517]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]




                    PRIVATIZATION OF SOCIAL SECURITY

  (Mr. CROWLEY asked and was given permission to address the House for 
1 minute and to revise and extend his remarks.)
  Mr. CROWLEY. Mr. Speaker, if you loved what happened to the people 
who invested their retirement savings in Enron stock, look out. House 
Republicans have something even better as a sequel, the privatization 
of Social Security. They can retitle it all they want as personal 
retirement accounts or personal choice or individual investing options, 
but it all means the same thing, privatization, taking your hard earned 
money from Social Security and giving it to the same people who brought 
us Enron and Global Crossing. No more guaranteed retirement income for 
seniors, but guaranteed instability.
  Should Ken Lay and Ivan Boesky and Michael Milliken be deciding your 
personal retirement future? Democrats say no. Republicans say yes. 
Oppose the Republican efforts to privatize social security. It is your 
money and do not let them forget it.
  When Social Security was started in 1935, 40 percent of Americans 
were dying in a state of poverty. We have not come very far. Today a 
full 33 percent of Americans rely on Social Security for their only 
source of income in retirement years.

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