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Social Security Referendum

November 13, 2002

Attacks on Social Security reform were undoubtedly key to Democratic hopes of retaking the House and strengthening their control over the Senate. Indeed, many Democratic leaders thought personal accounts would be the leading issue in 2002:

  • Rep. Richard Gephardt: "The election is a referendum on Social Security." (AP, Sept. 18).


  • Democratic Congressional Campaign Committee Chair, Rep. Nita Lowey,: "This election, in my judgment, will be a referendum on Social Security." (MSNBC.com, Oct. 1).


  • Howard Wolfson, DCCC Executive Director: "The stakes are high. This election will be a referendum on the future of Social Security." (Oct. 9, Investors Business Daily.)


  • Jenny Backus, DCCC Communications Director: "There's no question that I think this election is a referendum on the future of Social Security." (Oct. 6, Orlando Sentinel)


  • Hans Riemer, Campaign for America's Future: "This is the retirement security election." (Sept. 24 Cato Institute forum)

Personal account supporters obviously fared well in this election. While 2002 may not be a conclusion referendum in favor of personal accounts, clearly it is a referendum that a campaign based on often-hysterical attacks and the "do nothing" approach to Social Security reform will be unsuccessful.

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"Thursday's staff report 'does a terrific job of setting out both the stick and the carrot: the stick in the form of the financial crisis and the carrot in the form of a better Social Security system,' said Michael Tanner, director of the Social Security Privatization Project at the Cato Institute, a libertarian think tank that has strongly influenced the Bush administration's work in this area."

- Los Angeles Times
July 202001