Jeb! In NH: Privatizing Social Security? My Brother Tried, ‘Next President’ Will Too

Speaking in New Hampshire today Jeb! showed that his ties to his brother’s unpopular policies don’t stop with Iraq.  Watch American Bridge tracking footage of Jeb! taking passive-aggressive shots at Social Security and telling voters that while his brother tried and failed to privatize it, the “next president” would “try again.”

Background:

2000-2005: Jeb Backed George W. Bush’s Proposals For Partial Social Security Privatization

2000: Jeb Bush Backed George W. Bush’s Proposal To Add “IRA-Type Account” To Social Security. According to ABC News, Jeb Bush said, “DONALDSON: Governor, you and your brother have both been asked about the question of individual retirement accounts.  Your brother wants to set up, for younger people, just a small portion of the Social Security payroll tax that they can invest themselves.  And the question you’ve been asked is, ‘But if the stock market or the other investments go bad, will the government guarantee against loss?’ And I must tell you, sir, so far, I’m looking at what both of you have said, you’ve dodged the question, so what is it? Gov. J. BUSH: Well, I think people have the option to invest.  It–the money doesn’t leave the Social Security system.  So if you take what–what the current beneficiaries are going to get, which, clearly, they’re going to get. And there’s a still–a sizeable surplus, a small percentage of that ought to be able to be invested in an IRA type account for–for people.  And over–over time, all history shows that the returns are far better than what–what–what the returns are right now. […]Sam, the point is, that–in order to make sure that there’s going to be benefits for all Americans for the next generation, we have to try something different, and the other guys are saying, ‘Well, let’s just bond it, let’s just indebt the next generations forever and ever.’ And I think that is inappropriate.  Now, what will happen in January is that the next president, George W. Bush, will work with Democrats and Republicans alike to craft a sensible approach to reforming Social Security.” [Jeb Bush, ABC News, 11/5/00]

George W. Bush Proposed Allowing Workers To Divert Some Payroll Tax Contribution Into Private Accounts For Investment

2005: George W. Bush Proposed Allowing “Younger Workers To Divert Some Of Their Payroll Tax Contributions” Into Private Accounts For Investment. According to the Washington Post, “Back in his 2005 State of the Union address, George W. Bush declared that Social Security was ‘headed for bankruptcy.’ As a remedy, he outlined a proposal for younger workers to divert some of their payroll tax contributions to the program into private accounts, where people could invest in a ‘conservative mix of bonds and stock funds.’ He argued that these personal accounts could deliver a higher rate of return than what Social Security offers.” [Washington Post, 10/12/12]

Jeb Bush Supported George W. Bush’s Social Security Plan

2005: Jeb Bush Praised George W. Bush For Proposed Social Security Reform. According to Florida Today, “Brushing aside concerns that large numbers of Floridians oppose President Bush’s Social Security reform proposal, Gov. Jeb Bush praised his brother for tackling the issue Wednesday. ‘I appreciate he (President Bush) is willing to deal with an issue that is so long-term in nature,’ Gov. Bush said. President Bush was here for the day to meet with congressional and White House officials about Medicaid and education.” [Florida Today, 3/3/05]

Jeb Bush Defended George W. Bush’s 2005 Social Security Reform Proposal: “He Could Let This Be A Problem That Festers For A Long Time. But That’s Not George W. Bush.” According to Chicago Tribune, “The president already has carried his uphill campaign for an overhaul of Social Security to 17 states. This was his second Social Security pitch in Florida. Stops by Bush Monday and Tuesday in Colorado, New Mexico and Arizona will bring to 20 the number of states visited to urge Social Security’s changes. ‘He doesn’t have to deal with this,’ the president’s brother, Florida Gov. Jeb Bush, told the first audience Friday. ‘He could let this be a problem that festers for a long time. But that’s not George W. Bush.’” [Chicago Tribune, 3/19/05]

Jeb Bush Pitched George W. Bush’s Social Security Proposal To Florida Voters

2005: Jeb Bush Pitched George W. Bush’s Social Security Plan. According to Florida Today, “Republican leaders in the Senate, while supportive of Bush, warned that more needs to be done to persuade Americans the changes are necessary. Although he doesn’t have a formal role in the Bush administration’s Social Security sales pitch, Gov. Bush said Florida seniors having nothing to fear. ‘What the president has proposed won’t have any impact on people already receiving Social Security,’ he said.” [Florida Today, 3/3/05]