Campaign 2010

Jun 09, 2010

Crawford for Congress? A Wall Street Bankers Dream

Arkansas Democrats nominated Chad Causey as their candidate to face Rick Crawford in Arkansas 1st district. Crawford has committed to a risky, dangerous scheme to privatize Social Security into hands of Wall Street bankers.

"Arkansas families are going to have a clear choice for Congress this year. They can back Rick Crawford and his plan to take Social Security money and gamble it on Wall Street or they can back Chad Causey, who will stand up for middle class families on Main Street," said Jesse Ferguson, Southern Regional Press Secretary at the Democratic Congressional Campaign Committee. "After watching the stock market collapse, it's hard to see too many families thinking Rick Crawford has a good idea to bailout Wall Street with Social Security funds."

Background

Crawford supports privatizing Social Security.  [LauranIngram.com, accessed 5/16/10; Rick Crawford for Congress, 3/26/10]

Crawford tried to change his position after the primary and claim he didn’t support privatizing Social Security. [Arkansas Times, 5/26/10]

House GOP Leader supports privatizing Social Security. In May 2001, now NRCC Chairman Representative Pete Sessions co-signed a letter to the President’s Commission to Strengthen Social Security urging for privatization. The letter read, "Social Security reform must offer younger workers the opportunity to improve their rates of return using personal retirement accounts." [Rep. Jim DeMint Letter to The Social Security Reform Commission, 5/24/01]

  • Rick Crawford is a part of the National Republican Congressional Committee's list of "Contenders" candidates in their Young Gun program.  [NRCC]

House Republican leaders in Washington have re-introduced a plan, sponsored by ranking Republican budget committee member Representative Paul Ryan, that returns to the Bush-era concept of privatizing Social Security in Wall Street accounts. [Center for Budget and Policy Priorities, 3/10/10] In 2005, President Bush went on a 60 stops in 60 days Social Security tour, following him outlining the details of his private account plan in his February State of the Union Address.  [Washington Post, 4/27/05]

 

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