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Published on Jul 15, 2008
TEXT: John McCain's Social Security "Disgrace"
McCain: "We are paying present day retirees with the taxes paid by young workers in America today. And that's a disgrace, it's an absolute disgrace and it's got to be fixed." [Denver Townhall, 07/07/08]
TEXT: John McCain's Alternative?
BUSH: "And the best way to reach that goal is through voluntary personal retirement accounts." [State of the Union Address, 02/02/05]
MCCAIN: "We need personal savings accounts." [Fox News Debate, 10/27/07]
MCCAIN: "But I think that the principle of privatization of Social Security is one that I think is absolutely correct." [CNN,Evans, Novak, Hunt & Shields, 5/27/00]
MCCAIN: "And the beauty of private accounts is that it does give added return on investments of taxpayers of Social Security members' money." [ABC News Transcripts, March 20, 2005, This Week With George Stephanopoulos]
MCCAIN: "Private savings accounts work. They have been proven to work." [Fox News Network, Fox Special Report With Brit Hume, 3/21/05]
MCCAIN: "Without privatization, I don't see how you can possibly, over time, make sure that young Americans are able to receive Social Security benefits." [C-Span Road to the White House, 11/18/2004]