Would the Dems Wager on Social Security Reform?
by Michael New October 25, 2002 Michael J. New, a post-doctoral fellow at the Harvard-MIT Data Center, is an adjunct scholar at the Cato Institute. As the elections approach, congressional Democrats are, like clockwork, beginning their biennial demonization of Social Security reform. Recently, the Democratic National Committee released an ad that argued that a privatized plan would lead to benefit cuts and delayed retirement. It showed a cartoon of President Bush shoving not one, but two elderly people out of wheelchairs. The attacks continued with House Minority Leader Richard Gephardt accusing Republicans of waging a “stealth campaign” to “gut” Social Security after the election. As bad as these attacks are, the response from congressional Republicans is even worse. When confronted with these ad campaigns, Republicans quickly forget about their reform plans and their pledges to uphold the current system. Such a response may be effective at deflecting criticism. However, it does consi
