And then there were four!
Sen. Mary Landrieu (D) of <$NoAd$>Louisiana has been hanging on by a thread in the Fainthearted Faction for weeks, largely on the basis of an early refusal to rule out private accounts categorically.
But she signed the recent letter the Dems sent to the president. And she put out this press release on Friday which settles the matter. The key points read …
I agree with Treasury Secretary Snow on one very important point: We do need to strengthen retirement security in our nation. All Americans deserve the confidence that their retirement will be secure — that Social Security will be there as promised, their 401(k) plans won’t be raided through unscrupulous practices, and their pensions won’t be squandered by reckless corporate management.
The President’s plan doesn’t seek to address any of these concerns. It is too narrowly focused and creates too much risk by betting hard-earned savings on an ever-changing stock market when we should be working to add certainty and stability to the system. I agree that we must expand opportunities for retirement saving, but we must not undermine this worthy effort with a flawed privatization scheme that takes the ‘security’ out of ‘Social Security.’
We in Louisiana understand strong retirement security, and have about 350,000 state and municipal workers enrolled in a public pension plan that encourages savings and financial stability. I will oppose any federal proposal which changes or undermines this program, just as I intend reject any proposal which cuts Social Security benefits or adds to our already rising and troubling deficit.
I look forward to my meeting next month with Secretary Snow, and hope for a productive discussion on Social Security and the mounting national debt.
From the totality of evidence, for us, that takes Landrieu out of the Fainthearted Faction.
