Labor Unions Intensify Campaign Against President Bush's Social Security Plan

As President Bush continues to push for personal Social Security investment accounts, labor unions have stepped up their efforts to stop the plan, staging demonstrations in major cities across the country. The protests, part of a larger campaign launched by labor unions, have aimed to persuade moderate Republicans to reject the plan. Labor leaders argue that privatization would lead to steep benefit cuts, an exploding deficit, and huge bills for future generations. President Bush's supporters, however, have accused labor unions of using unfair and possibly illegal tactics, sparking a heated debate over the issue.

Key Takeaways:

Labor unions have staged demonstrations in 70 cities, including New York, Washington, and San Francisco, to protest President Bush's Social Security plan.
The protests are part of a larger campaign to persuade moderate Republicans to reject the plan, which labor leaders claim would lead to steep benefit cuts, an exploding deficit, and huge bills for future generations.
Labor unions have packed congressmen's town meetings, pressured investment firms to stop backing the plan, and collected tens of thousands of signatures to denounce it.
The A.F.L.-C.I.O.'s president, John J. Sweeney, has accused the White House of conducting a propaganda campaign to convince voters to support privatization.
Republican leaders, including Representative John A. Boehner, have accused labor unions of using unfair and possibly illegal tactics, sparking a debate over secondary boycotts.
Labor leaders have defended their actions, arguing that they are exercising their fiduciary duties by protecting workers' financial interests and are not engaged in secondary boycotts.
Unions have already pressured two financial firms, Edward Jones and Waddell & Reed, into quitting a group that favors the Bush plan.
As part of their campaign, labor unions have assigned 36 staff employees to work in 21 states and have met with 90 members of Congress.

Statistics:

70 cities participated in protests against President Bush's Social Security plan.
Tens of thousands of signatures have been collected to denounce the plan.
36 staff employees have been assigned to work in 21 states as part of the labor unions' campaign.
90 members of Congress have met with labor leaders to discuss the issue.
2 trillion: the amount of money the government would have to borrow in the first decade and 2 trillion in the second decade to make the president's plan work (according to Richard Trumka, A.F.L.-C.I.O. secretary-treasurer).

Sources:

The New York Times
Ken Cedeno (for The New York Times) - photo of John J. Sweeney speaking in front of Charles Schwab offices in Washington
Jim Wilson (The New York Times) - photo of union members protesting in San Francisco and more than 70 cities against changing Social Security