3/11/2005

Rangel tees off on Bush too: A "new low"

In a speech yesterday, Bush made the following atrocious utterance:
"And so there are guidelines as to what you can invest in. I was being somewhat facetious on the lottery -- but really not. There's a proper risk reward, a portfolio that will allow you as a younger worker to pick a mix of stocks and bonds. Oh, I know they say certain people aren't capable of investing, you know, the investor class. It kind of sounds like to me, you know, a certain race of people living in a certain area. I believe everybody's got the capability of being in the investor class.
Yesterday, as part of his pitch for privatizing Social Security, President Bush stated that opponents of privatization "say certain people aren't capable of investing...It kind of sounds like to me, you know, a certain race of people living in a certain area." (USA Today)

Today Rep. Charlie Rangel issued the following statement (posted on the DCCC website):
"It is clear that in their desperation to rescue their privatization plan, the White House has sunk to a new low. How far will they go? The White House strategy seems to be to sow divisions - young and old, men and women, Black and White, North and South - to achieve their political goals. The Republicans figure if they can divide the nation, they can conquer Social Security. First, Republicans said that they would consider providing African American workers with a different level of benefits based on their race. That did not go anywhere, so President Bush and his allies claimed that Social Security is a bad deal for African Americans, since African Americans tend to have a shorter life expectancy. Now, the White House has changed its tune again and is saying that those of us who oppose privatization are somehow racist. This is totally outrageous. No one is saying that any certain group cannot invest - we are saying that no matter who you are, you need one asset that you can depend on, no matter what. That asset is Social Security. Without it, almost 60 percent of African American seniors would live in poverty as would millions and millions of other older Americans of all races...The only thing easier than making money on Wall Street is losing money on Wall Street. That may be fine if you have the money, but for the millions of Americans that depend on Social Security for their survival, their independence, and their peace of mind, they can't afford to take the President's gamble.

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