[Congressional Record (Bound Edition), Volume 148 (2002), Part 10]
[House]
[Page 13077]
[From the U.S. Government Publishing Office, www.gpo.gov]




          DEFEAT PRESIDENT'S PLAN TO PRIVATIZE SOCIAL SECURITY

  (Mr. BROWN of Ohio asked and was given permission to address the 
House for 1 minute and to revise and extend his remarks.)
  Mr. BROWN of Ohio. Mr. Speaker, it has been a week since President 
Bush went to Wall Street to restore investor confidence in our capital 
markets. Unfortunately, the response from investors has been dismal. 
Since the President's trip, the two major stock indices have lost 7\1/
2\ percent of their value. Last year alone, America's markets lost $2.4 
trillion of their value, more than the gross domestic product of 
Germany.
  Most Americans probably think that because of these massive stock 
market losses the President has reconsidered his plan to privatize 
Social Security. They would be wrong.
  Even though our country is in the throes of the worst financial 
crisis of confidence in decades, President Bush is pressing forward 
with his program to privatize Social Security. The President's plan to 
privatize Social Security should be defeated, now more than ever.

                          ____________________