Thelma Drake on privatizing Social Security: "I absolutely support it"

By: Rob
Published On: 8/14/2006 11:00:00 AM

From the Feb. 3, 2005 Richmond Times Dispatch (not available online):

When President Bush pitched his proposals for voluntary personal savings accounts under Social Security, Virginia lawmakers responded with divergent views that suggest the challenges awaiting Bush....

On the Republican side, reaction was mixed. Some supported the savings accounts idea, some applauded Bush's bringing a Social Security overhaul to the fore, and still others reserved judgment until they could learn more details.

"I absolutely support" Bush's proposal, said freshman Republican Rep. Thelma Drake of the 2nd District. As a new member of Congress, "I've set up a Thrift Savings Plan which is a very similar thing," she added.


So, there you have it.  Thelma's on the record supporting Bush's plan to privatize and phase out Social Security.

Comments



COMMENT HIDDEN (I.Publius - 8/14/2006 11:04:01 AM)


TSP (kevinceckowski - 8/14/2006 11:44:34 AM)
is not the same as a guaranteed savings from SSA.  What is she smoke'n?  You can move your funds around in the TSP, but if you don't ride it out over 15-25 years, you can loose your shirt!  I lost 8k in less than 2 months! Why? The stock market took a hit and you can't change your funds as quickly as the market takes a dive, and it is not recommended to keep changing your G fund or your S funde, etc like you do your socks.  If you try, you may miss a super day in the market when things could make you break even.

I can see an elderly person, fixed income trying to figure all that out and loose everything.  It is not for the person who needs funds day to day.  It is not for the person who needs funds in less than 5 years, in fact you should be VERY conservative (did I just use that word) when you are nearing the time to retire.  By the looks of her picture, she is NOT ready to retire any time soon (maybe we can help) and so she is giving out bad advise.  I wonder (pictured with her) if Senator Warner agrees with her? I bet not!



Privatize Thelma! (K - 8/14/2006 12:40:25 PM)
Why are we wasting taxpayer dollars on this woman? Let's take her off the public payroll!


SUPER COMMENT! (kevinceckowski - 8/14/2006 2:21:31 PM)
Just a super comment.
Bravo!


Drake v. Kellam (David Campbell - 8/14/2006 3:03:02 PM)
At the 07/22/2006 debate, I asked both candidates if they support President Bush's plan to privatize Social Security.  I thought this was a soft pitch that Kellam could knock out of the park.

Kellam just said "no" (and then used the remainder of his allotted answer time talking about Drake's use of taxpayer money to send targeted campaign material).

Drake clearly supported privatization.

Unfortunately, this fact went unreported by the Virginian-Pilot, which continued their storyline that the two candidates don't have any substantive differences on the issues.  It has now been reported in the Richmond Times-Dispatch, but the voters of the 2nd district may never know.