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Congressman Blunt's Record on Social Security Privatization: A Fact-Check

Strategic Insights

— 2 min read

Congressman Roy Blunt, a Republican from Missouri, has a long history of advocating for privatizing Social Security. Despite his claims that he only supports private accounts for younger workers, Blunt's actions in Congress and his public statements demonstrate a clear commitment to dismantling the social safety net. In the 2004 presidential election, Blunt told CNN that the US should have switched to private Social Security accounts decades ago, and as a member of Congress, he helped President Bush sell his plan to Congress. Blunt's support for private Social Security accounts has been a consistent theme throughout his career, and his claims to the contrary are a clear example of "tapping dance" politics.

Key Takeaways:

  • Congressman Blunt has consistently supported privatizing Social Security, including voting against an amendment to stop the White House from implementing the Social Security privatization plan in 2001.
  • In a 2004 CNN interview, Blunt argued that the US should have switched to private Social Security accounts decades ago, calling it "a transition for younger workers" and suggesting that it would solve the country's social security problem.
  • As reported by Gannett in 2005, Blunt, in his role as Majority Whip, helped the President sell his plan to Congress, which included adding individual investment accounts to Social Security.
  • Blunt supported President Bush's social security plan, which included personal retirement accounts that offered workers the choice to pursue a higher rate of return on their social security contributions.
  • In 2005, Rep. Blunt backed President Bush's social security plan, supporting personal retirement accounts that would allow workers to invest up to 4 percent of their salary in a diversified, low-cost mutual fund of stocks and bonds.
  • Congressman Blunt's plan to privatize Social Security would have required "massive cuts in defined benefits" with the Commission's proposals put forward by the Bush's Social Security Commission recommended cuts in defined benefits for those who do not opt for the voluntary accounts.
  • Blunt Touted "Our Strongest Selling Point" for Private Accounts, saying that the idea of owning the individual's own social security account is the strongest selling point.
  • Blunt: Bush Social Security Reform Will Give Sense They Are "Stockholders in America"

Statistics:

  • Up to 4 percent of worker's salary can be invested into personal retirement accounts (Springfield News-Leader, 3/30/05).
  • The amount invested in personal accounts would be a portion of the 12.8 percent payroll tax already deducted from every worker's paycheck for Social Security (Springfield News-Leader, 3/30/05).
  • The Bush Commission proposed privatization plans that included massive cuts in defined benefits (USA Today, 5/15/01).

Sources:

  • CNN, 11/10/04
  • Gannett, 3/19/05
  • Springfield News-Leader, 3/30/05
  • Washington Post, 2/20/05
  • USA Today, 5/15/01
  • Dallas Morning News, 5/7/01
  • National Committee to Preserve Social Security and Medicare press release, 12/11/01

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