Former U.S. Senate Majority Leader Tom Daschle, who campaigned today in Las Vegas on behalf of Sen. Barack Obama’s presidential candidacy, said Americans can expect to hear Obama speak far more about the differences he and Republican presidential candidate John McCain have on Social Security.
In an interview with the Review-Journal prior to speaking before area seniors gathered at AFSCME Local 4041, Daschle, a South Dakotan who served in the Senate for 18 years, said Obama will inform the nation’s senior voters — a potent voting bloc — about how McCain several years ago strongly supported a policy that President Bush tried unsuccessfully to promote: Diverting a portion of Social Security taxes to fund private accounts.
Under that plan, workers would manage the money in stocks and bonds and, at retirement, also receive reduced Social Security payments.
"With what we’ve seen from Wall Street, we can see how dangerous that would be to a retirement," Daschle said.
Obama opposes the private accounts — what he calls the privatization of Social Security — and has warned they could be a precursor to phasing out the entitlement program.