One from FDR, the other from Harry Reid.
Senate Democrats gathered at the Franklin Roosevelt Memorial (search) today to invoke the image of FDR in calling on President Bush to remove private accounts from his Social Security (search) proposal. But it turns out that FDR himself planned to include private investment accounts in the Social Security program when he proposed it.
In a written statement to Congress in 1935, Roosevelt said that any Social Security plans should include, "Voluntary contributory annuities, by which individual initiative can increase the annual amounts received in old age," adding that government funding, "ought to ultimately be supplanted by self-supporting annuity plans."
Last night, Senate minority leader Harry Reid (search) likened the president’s proposal to allow Americans to divert a portion of payroll taxes into personal security investment accounts to "gambling." But in 1999, the Nevada Democrat proposed something very similar on our own "FOX News Sunday" saying, "Most of us have no problem with taking a small amount of the Social Security proceeds and putting it into the private sector."
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