Gore blasts Bush's Social Security investment plan

By Sandra Sobieraj, Associated Press, 5/18/2000

RLANDO, Fla. - Al Gore told 10,000 senior citizens yesterday that ''we could see the end of Social Security as we know it'' under George W. Bush's plan to allow private investment of government retirement funds.

Bush, campaigning in Washington state, accused his Democratic presidential rival of being ''mired in the past'' while Bush leads by proposing changes to ensure Social Security's future.

Gore addressed a big American Association of Retired Persons convention, campaigning for Florida's 25 electoral votes and support from senior citizens nationwide. He quoted from Bush's news conference on Tuesday to argue that the Republican has moved onto dangerous ground with his proposal - not entirely fleshed out in specifics - to allow Americans to invest some of their Social Security taxes in the stock market.

In that news conference in Oregon, Bush, the Texas governor, said it was ''conceivable'' that a worker taking advantage of the investment accounts would get a lower guaranteed benefit from Social Security.

''He said, and I quote word for word, `That's all up for discussion,''' Gore told AARP members at their biennial convention. Some of them groaned.

''With all due respect, I don't think your retirement security should be up for discussion,'' Gore added.

The senior citizens applauded.

Bush had also said it was possible workers would eventually be allowed to invest their entire Social Security tax, not just a portion.

Gore told the group he ''could scarcely believe it'' when he read those comments.

The vice president added that because Bush could not guarantee a minimum benefit, ''in his `completely different world' - in his phrase - we could see the end of Social Security as we know it.''

Gore has proposed using budget surpluses to infuse the Social Security Trust Fund with revenues for the baby boom's retirement. He would also improve benefits for widows and homemakers at an estimated cost of $100 billion over 10 years.