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Thursday, August 01, 2002
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A Word from Joe:
DON'T RISK SOCIAL SECURITY TRUST FUND IN STOCK MARKET
Last week President Bush reiterated his position that he supports the creation of private retirement savings accounts and investment of your social security funds in stock market investments...even in light of the corporate scandals and multi-trillion dollar fall in the stock market. Even Alabama's own retirement system's chief, David Broner said that Alabama pensioners would have to go to the tax payers of Alabama for more funds if more scandals occur and stocks fail.
Social Security is a sacred trust between American workers and the people of the United States. Businesses also contribute and spouses and children rely on the benefits in the event of the death of loved ones. This trust means that no President or Congress should jeapordize your future or the safety of the fund, or lessen the government's ability to meet its financial obligation to seniors, widows and orphans.
Social Security funds invested in Enron or WorldCom would be gone today...your money lost and the taxpayer would have to make up the slack. As your next U.S. Congressman, I will stand tall and take whatever steps are needed to protect Social Security. Please ask my opponent if he supports President Bush and Vice-President Cheney's position to allow your retirement and disability funds to be invested in the stock market. Let's hope the market recovers and that investors come back and help honest American companies grow. But let' not risk the future of Social Security to the Harken Energy's and Haliburton Oil Company's of the world. Tell Mike Rogers and George Bush no. Joe
GREED, GRAFT, AND WHAT TO DO
The financial markets and retirement pensions of Americans have been rocked as daily revelations of corporate misdeeds have deeply affected investor confidence. These revelations of mass deception on the part of corporate executives, accounting firms and even Washington special interests(elected officials) have led to a multi-trillion dollar decline in U.S. market values.
These happenings on Wall Street have left many Alabama citizens with fewer dollars for retirement and even scorched the Retirement Systems of Alabama, which is the bedrock for so many retired state employees and school teachers. Voters are angry and demanding that Congress and candidates for Congress take real action. The House of Representatives and White House must quit playing rhetorical games and pass strict rules (enforce the ones they have) and reassure small investors that America's financial markets are safe.
When elected to Congress, I pledge to wade into the battle to assure America's pensioners, investors, and corporations that if you play by the rules with integrity, your investment will be at risk only to market forces, not by corporate malfeasance and greed.
As an American citizen and father of two children, I am recommitting myself to teaching values of integrity and that greed and idolotry of money leads to evil. Getting rich quick or at any cost is not a fundamental of free enterprise. Hard work, fairness, honesty, ingenuity, good fortune, thriftiness and shrewdness are better values. Let's put America First, by putting integrity first in our corporate practices, halls of Congress, and in dealings with each other. Joe
