Dems urge 'Silent 7' to speak up on Social Security
Published March 4th, 2005 in The TrentonianBy: Pete Daly
The Democrats dubbed the GOP candidates the "Silent 7" for so far keeping quiet on President George Bush's proposal to take money from Social Security to create private investment accounts for workers.Assembly Majority Leader Joseph Roberts unveiled a "privatization pledge" with Watson-Coleman and community leaders that was sent to the Silent 7. Among eight points on the pledge are items saying the candidates will not accept money from any groups that support privatization and will refuse to campaign with any other Republican leaders who support it.
The Democrats also sent the pledge to U.S. Sen. Jon Corzine, a Democrat who they said verbally committed to sign it.
Privatization is expected to have a significant impact on younger workers as well, and 28-year-old Anthony Perno said yesterday he believes his retirement may be in doubt.
"My retirement is still quite a long way off and up until now I had confidence my elected leaders would protect Social Security," said Perno, who works for the Camden Redevelopment Authority. "I have saved money in a 401(k) plan, but now that won't be enough if this passes. When I'm 65, my benefits will decrease and there will be an increased debt. That's a bad deal if I ever heard one."
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