Posted by | August 14, 2010 14:30 | Filed under: Top Stories

President Obama used his Saturday address to point out how the GOP wants to destroy Social Security, on the 75th anniversary of when President Roosevelt signed it into law.

Seventy-five years after President Franklin D. Roosevelt signed Social Security into law, Obama said in his weekly radio and Internet address Saturday: “We have an obligation to keep that promise, to safeguard Social Security for our seniors, people with disabilities and all Americans — today, tomorrow and forever.”

Some Republican leaders in Congress are “pushing to make privatizing Social Security a key part of their legislative agenda if they win a majority in Congress this fall,” Obama said.

He contended that such privatization was “an ill-conceived idea that would add trillions of dollars to our budget deficit while tying your benefits to the whims of Wall Street traders and the ups and downs of the stock market.”

Rep. Paul Ryan of Wisconsin, the top Republican on the House Budget Committee, wants to allow younger people to opt in to personal accounts instead of Social Security.  The president says he’s committed to working with anyone of either party to help save the system, which allegedly goes into deficit mode in 2037.

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Copyright 2010 Liberaland
By: Alan

Alan Colmes is the publisher of Liberaland.