John Kerry Meets the Press

On message with Social Security:

SEN. KERRY: President Bush is hyping a phony crisis. The crisis in America today is 45 million Americans who don't have health care. The crisis are 11 million children that I just talked about that we ought to be covering with health care. You know, Social Security does not run out as the president says and become bankrupt in 2018. It can pay 100 percent of the benefits until 2042, and after 2042, it can pay 80 percent of the benefits. And all you need to do to move Social Security into safety, well into the 22nd century, into the next century, is to roll back part of George Bush's tax cut today. His tax cut takes three times the deficit of what is contained in Social Security.

Now, there are any number of other things that you could do to try to fix it smart. What President Bush wants to do is put at risk something that has stood up not as an investment program but an insurance program, an insurance against poverty. Without Social Security, 50 percent of seniors would be in poverty. Without Social Security, people with disabilities, widows, orphans, children would not get help. And the president is willing to put that at risk so that you have $940 billion in fees that go to Wall Street and a whole bunch of young people get to invest money in who knows what, and there's no guarantee that money will be there for them in their lifetime.