McCain’s Social Security Guru Privatizing’s Biggest Cheerleader

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Sen. John McCain used to make no secret of his support for a privatized Social Security run by his investment donors on Wall Street. He backed off of that this summer, but now he’s come roaring back on the privatizing wagon.

In 2006, McCain voted convert Social Security surpluses into a private account, but then in mid-June of this year, he told a New Hampshire audience, “I am not for quote ‘privatization of Social Security.’  I never have been, never will be.’€

Looks like the pander half-life is about five weeks. That’s how long it took after double-talked on privatizing Social Security that he’s pushing out Martin Feldstein to talking on his behalf.

Feldstein is “hailed” as the “chief intellectual force behind” privatizing our Social Security and has authored numerous pro-privatization of Social Security tracts, including “The Case for Privatization” and “Privatizing Social Security: The Ten Trillion Dollar Opportunity.” 

McCain is coming to Racine on Thursday. By then, maybe he’ll have backed off privatizing Social Security. 

Again.

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Scot Ross served as Executive Director of One Wisconsin Now & the Institute from 2007 to 2019.