A new statement out

A new statement out from Rep. Harold Ford: “I do not support changing the Social Security system as has been proposed by President Bush, nor do I support Social Security proposals advanced by the CATO Institute. In fact, both of these proposals have the potential to harm current beneficiaries by paying for the transition costs by issuing debt. Piling on more red ink to the existing federal budget deficit and the national debt will do both long and short term harm to our economy. I do believe that the system needs to be reformed but I do not support changing the Social Security system as President Bush has proposed.”