The IUSB Vision Weblog

The way to crush the middle class is to grind them between the millstones of taxation and inflation. – Vladimir Lenin

More Lies from Desperate Democrats: Joe Donnelly Lies About Jackie Walorski Again – UPDATE: Associated Press Blasts Donnelly for Social Security Lie!

Posted by iusbvision on October 15, 2010

This post is a part of our new “LIES” category.


SOCIAL SECURITY INSINCERITY: “If Walorski’s plan was in place two years ago, you could have lost nearly 40 percent of your retirement savings. Jackie Walorski. We can’t afford the risk.” That’s a Democratic ad against a Republican candidate in Indiana, misrepresenting Republican proposals to let people invest a portion of their Social Security taxes privately. GOP candidates Sean Duffy in Wisconsin, Dan Benishek in Michigan and Andy Barr in Kentucky are similarly depicted as reckless gamblers with Social Security money.

THE FACTS: The 40 percent figure bears no resemblance to Republican proposals.

It is based on the percentage drop in the 2008 stock market crash. Republicans have never proposed personal savings accounts for all Social Security money. And the current House Republican leadership has not agreed to support any private investment program.

The main Republican initiative comes from Rep. Paul Ryan of Wisconsin, who would give workers under 55 the option of investing a third of their Social Security taxes in personal retirement accounts managed by the Social Security Administration. The government would guarantee that nobody loses money.

Of course this is not the first time he either just made a claim up or totally distorted Walorski’s position – Blasts Donnelley’s False Claims

The charge? Donnelly is claiming that Walorski wants to throw ALL Social Security funds into the stock market.

In a new ad and mailer from Joe Donnelly and his pals in the AFL/CIO leadership that I received in the mail today it says:

It’s clear that Jackie Walorski will risk our retirement saving. the only gamble is how much we’ll lose.

Of course this is the same lie that Democrats all across the country have been using and even the left leaning says that the claim is pure nonsense. Read for yourself at the link. Obama’s (Latest) Social Security Whopper – The president claims Republican leaders are as eager to ‘privatize’ Social Security as they are to repeal his health care law. That’s not true.

The president further distorted the Republican position when he claimed that the GOP plan would “[tie] your benefits to the whims of Wall Street traders.” That’s not true of the private accounts Bush proposed. Those would have been invested in strictly regulated, broadly based mutual funds, much like the funds in which millions of federal workers invest their own retirement funds.

Obama isn’t the only one spreading this lie, Here is a member of the Democrat Leadership making the same bogus claim on CNN.

Here was IUSB Vision’s take on this lie:

The lie; Wasserman is misrepresenting Ryan’s  position on Social Security. He doesn’t want to completely privatize it at all, he proposed as a possible alternative to offer people under age 55 the option of investing a fraction of their money in personal accounts in the same way that Congress has their retirement plan run. The plan that Congress has is partially private and partially ran by the government. All investments are carefully vetted and the money is very much diversified so if 1 of 25 investments loses some the others make money. The plan Congress has for themselves is ran VERY well and is quite lucrative. Of course what Wasserman doesn’t want to admit is that yes the Democrats have spent your Social Security money and continue to do so and now Social Security is in the red. The Social Security money is GONE and now Congress is printing money and burrowing money to pay Social Security benefits. Not being good enough Democrats have also raided $555 billion from the Medicare fund; Paul Ryan is 100% correct about that.

The truth is there is no more Social Security to even invest to help prefund American’s retirement. The money is GONE. Congress has spent the money and there is not enough money coming into Social Security any more to take care of current benefits. Now that the Social Security pile of money is gone the Democrats have begun to raid Medicare funds.

As modest as Paul Ryan’s proposal is Walorski’s position is even more modest. Walorski has proposed (and stated 100 times) that there be no changes to the current Social Security system for current retirees and for those going into the system in the near future with the exception that Congress stop spending Social Security funds on other things.

For those who are very young such as age 30, those people should be given the option of having a personal account that politicians can’t raid and have the option of using a small percentage of that account to be invested in the same type of lucrative retirement plan that Members of Congress have. No one ever proposed taking Social Security funds and tossing them all into the stock market. Democrats made this up some years ago and are still using it as a talking point in spite of the fact that every serious media outlet who has looked at these claims from Democrats have stated that they are just plain false, just as did.

In Donnelly’s TV ad he takes a carefully cherry picked snippet of Walorski explaining her position on this issue from a radio show and builds an entire false narrative around it to make it look as if Walorski is taking a position she just does not have. Of course Donnelly isn’t the only Democrat playing games with sound tape editing to be used as a smear tool:

Rep. Grayson Lowers the Bar – The Florida Democrat manipulates video to make his opponent seem to urge wives to ‘submit’ to husbands. He didn’t.

We thought Democratic Rep. Alan Grayson of Florida reached a low point when he falsely accused his opponent of being a draft dodger during the Vietnam War, and of not loving his country. But now Grayson has lowered the bar even further. He’s using edited video to make his rival appear to be saying the opposite of what he really said.

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