Bush Pledges Personal Accounts for Social Security

August 12, 2000

Following are excerpts from Republican presidential nominee George W. Bush's acceptance speech at the Republican national convention in Philadelphia, August 3rd:

"Social Security has been called the third rail of American politics, the one you're not supposed to touch because it might shock you. But if you don't touch it, you cannot fix it. And I intend to fix it."

"To seniors in this country: You earned your benefits, you made your plans, and President George W. Bush will keep the promise of Social Security. No changes, no reductions, no way... Now is the time for Republicans and Democrats to end the politics of fear and save Social Security, together. "For younger workers, we will give you the option -- your choice -- to put a part of your payroll taxes into sound, responsible investments. This will mean a higher return on your money, and, over 30 or 40 years, a nest egg to help your retirement, or pass along to your children.

"When this money is in your name, in your account, it's not just a program, it's your property. Now is the time to give American workers security and independence that no politician can ever take away."

Michael Tanner, Director of Cato's Project on Social Security Privatization, hailed the Bush speech, saying, "It hit all the right notes." Tanner also said, "I was particularly gratified to see Bush tackle the property rights issue, which is such an important part of Social Security reform."

For more information, see "Property Rights: The Hidden Issue of Social Security Reform," by Charles E. Rounds Jr.

2001 Index | 2000 Index | 1999 Index | 1998 Index