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TomPaine.com
November 12, 2002

Social Security In The 2002 Elections: Candidates Won By Renouncing Privatization

The conservative crusade to "privatize" Social Security played an important role in the 2002 election -- but not in the way that most supporters of this radical idea might have hoped. After more than a decade of aggressive marketing by right-wing interest groups, this was the first national election in which the privatizers might have gotten their dream scenario: a political debate over specific plans put forward by a sitting President -- and embraced by many in the House and Senate -- for diverting Social Security taxes and cutting benefits in order to fund private stock market accounts.

The debate, however, turned into a rout. The privatizers, when challenged, changed their colors and fled the field.

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