Bush Gored On Social Security
Al Gore continued his assault on his GOP rival's policies Monday, saying that George W. Bush's Social Security plan would be "bad for American families and bad for our economy" because retirement money would be exposed to the stock market.
In an address to publishers and editors at The Associated Press' annual meeting, the vice president asserted that Bush would subject the nation to "short-term irresponsible decisions" on the federal budget, taxes, education, the environment and guns.
Democrat Gore and Republican Bush were both in New York to attend the funeral of Roman Catholic Cardinal John O'Connor. Because of the funeral, Bush postponed plans to unveil his Social Security initiative that would allow Americans to invest a portion of their payroll taxes in the stock market.
The Texas governor had most recently reached out to O'Connor with a letter of apology in the wake of his controversial appearance at Bob Jones University in South Carolina. Leaders of that private college have made anti-Catholic statements in the past.
For his part, Gore did not back off in deference to Monday's funeral, challenging Bush to a debate on Social Security.
"Gov. Bush can argue for privatization, and I can make the case against it," the vice president said. "Gov. Bush can explain why he has left the door open to raising the retirement age, and I can explain why I think it is bad public policy and a disservice to those who work hard, physical jobs."
Gore's Social Security plan calls for the use of interest savings from paying down the national debt to shore up the system through the year 2054. His challenge to Bush on Monday was an attempt to drive elderly and baby boom voters away from the GOP campaign.
"I think that's bad for American families and bad for our economy because it takes away our ability to pay down the national debt," Gore said of reports that Bush would use budget surpluses to help make the transition to his market-orientated plan.
In response to Gore's remarks, Bush spokesman Dan Bartlett replied, "What history has shown is the market, over a period of time, has had a rate of return far greater than the Social Security trust fund." Bush himself had no reply Monday.
Gore, who has long urged regular debates with Bush, called Monday for a debate solely on the Social Security issue as soon as possible.
The vice president spoke for about 30 minutes and took a handful of questions, digging at one point into his rival's proposed $460 billion federal tax cut.
"I don't think we should try to have short-term irresponsible decisions now in our national economy that would cause our country to have to borrow heavily again," he said.