Last Thursday, for the second week in a row, protesters paced outside of a downtown investment firm in protest of President Bush's proposed privatization of Social Security. The group, calling itself Idahoans United to Protect Social Security, was objecting to Wachovia Securities' continued support of the controversial presidential agenda to allow Americans to funnel their Social Security taxes into private investment accounts. After widespread opposition from the AFL-CIO and AARP, the brokerages Edward Jones and Waddell and Reed pulled their support of the plan. The target of last week's picket, Charles Schwab, has not yet followed suit.
"It's not difficult to follow the money trail to the major front groups raising huge war chests for multimillion-dollar, pro-privatization ad campaigns," said Lucinda Hormel of Idahoans to Protect Social Security. "These financial services-Wachovia being prominent among them-have been funding pro-privatization plans for years." The group says they play to continue educating the public about privatization, because, according to Hormel, "Polls continue to show that the more people learn about the plan-across the board among all demographics-the less they support it." More info about the group is available at www.uvidaho.org.