A Weekly Dose of Reality on Social Security Reform
July 26th

Remember When Democratic Leaders Favored Social Security Reform?

Democratic Leadership Council Backed Real Reform in 2000

It doesn’t seem that long ago that top Democrats proudly embraced substantive Social Security reform, rather than taking a “just say no” stand against needed changes. But on August 1st, it will be five years since the Democratic Leadership Council’s issuance of a policy agenda that included Social Security reform.
(Democratic Leadership Council, “The Hyde Park Declaration: A Statement of Principles and a Policy Agenda for the 21st Century” www.ndol.org/print.cfm?contentid=1926, 8/1/00)

The DLC’s Goals:

  • “Honor Our Commitment to Seniors by Ensuring the Future Solvency of Social Security and Medicare.”
  • “Make Structural Reforms in Social Security and Medicare that Slow Their Future Cost Growth, Modernize Benefits—and Give Beneficiaries More Choice and Control Over Their Retirement and Health Security.”
  • “Create Retirement Savings Accounts to Enable Low-Income Americans to Save for Their Own Retirement.”

The 73 elected Democratic leaders who signed the policy document include some of today’s leading Democrats in Congress and state houses such as: U.S. Senators Evan Bayh (IN), John Kerry (MA), Mary Landrieu (LA), Joseph Lieberman (CT), and Blanche Lincoln (AR); U.S. Representatives Jim Davis (FL), James Moran, Jr. (VA), Allyson Schwartz (PA), Ellen Tauscher (CA); and Governors Janet Napolitano (AZ), Kathleen Sebelius (KS), and Tom Vilsack (IA) .

What the DLC Said Then:

  • “We can’t just spend our way out of the problem; we must find a way to contain future costs. The Federal Government already spends seven times as much on the elderly than it does on children. To allow that ratio to grow even more imbalanced would be grossly unfair to today’s workers and future generations.”

This call for reform was right in 2000, and it’s right today. It’s time for Congress to step up to the plate with the kinds of solutions Democratic leaders endorsed five years ago. Congress should return from the August recess ready to reform Social Security and provide retirement security for generations to come.

Fix Social Security Now.