BILL CLINTON almost managed to Privatize SOCIAL SECURITY, like the WELFARE program begun by FDR that ended as we know it in 1994 with the law enacted to reduce the program to 'Workfare' which threw millions of women and children into poverty. The effort by centrist, neoliberal Democrats since Clinton to cut and privatize social programs, the landmark legislation of the DEMOCRATIC PARTY from FDR's NEW DEAL of the 1930s Depression Era is appalling.
- Bill Clinton at a 'Clinton Global Initiative University' event with guest presenter and billionaire financier PETE PETERSON. Peterson has been lobbying for years to get at the $2.3 Trillion Trust Fund in the SOCIAL SECURITY Program to transfer it to Wall Street to gamble with.
Privatization of Social Security could have taken place by Clinton as THOMAS FRANK discussed in a book talk. But the plan, worked on in 1997 by Clinton and NEWT GINGRICH (R) at White House meetings was interrupted by the Monica Lewinsky scandal in 1998.
The successful, popular Social Security program was created for elderly and those unable to work in the 1930s Depression Era by FDR's NEW DEAL. In Germany, Chancellor Bismarck established the first Social Security old age program in 1889! We're seriously behind.https://www.ssa.gov/history/ottob.html
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