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Kerry, Lieberman used to favor Personal Retirement Accounts
August 01st 12:59:31 PM
Kerry, Lieberman used to favor Personal Retirement Accounts
August 1 marks the fifth anniversary of the Hyde Park Declaration, a document released by the Democratic Leadership Council that established "New Democratic principles and a broad national policy agenda for the next decade." At the time, several influential Senators signed it, including Senators John Kerry and Joe Lieberman.
The Hyde Park Declaration was a product of mainstream Democratic thinking, at a time when the Democratic Party was a party of ideas. The New Democrats prudently identified Social Security reform as an important policy issue for the first decade of the 20th Century.
Showing tremendous foresight in recognizing the importance of reform, the DLC noted that the nation was in the middle of a "great transformation." The Democratic Party’s accomplishments of the 20th century, specifically Social Security and Medicare, had to be modernized.
Now Senators Kerry and Lieberman have a chance to fulfill their promise of five years ago. Democrats of the past would have entered into the debate with serious proposals. Today too many sit on the sidelines and offer nothing at all. This is not the kind of leadership Americans are used to from the party of FDR, and it helps explain the re-emergence of the Republican Party as the party of ideas.
Democrats can continue to sit on the sidelines while the important issues of the day are discussed, or they can engage in real policy and put politics aside. There is a leadership void in Washington. A politician who can put partisanship aside could go far.
The Hyde Park Declaration is a guide for any Democrat who wishes to revisit a time when principles, and not partisan politics, reigned. It provides tangible goals, challenging Democrats to "modernize" Social Security "to reflect conditions not envisioned when [it was] created in the 1930s," because "we can’t just spend our way out of the problem." Specifically, the Declaration identifies that Democrats should "create Retirement Savings Accounts to enable low-income Americans to save for their own retirement."
The DLC and its Hyde Park Declaration flow from a strong set of principles - not political expediency. Among these principles are beliefs, "that government’s proper role...is to equip working Americans with new tools for economic success and security," that "the Democratic Party’s mission is to expand opportunity, not government," and that "government should harness the forces of choice and competition to achieve public goals." Voluntary Personal Retirement Accounts are a concrete manifestation of these lofty principles, allowing workers to shift some of their payroll taxes into the productive economy. For low-income Americans, this money is their only opportunity to save and amass a nest egg.
These are mainstream American values, values voters look for in their elected leaders. Democrats must confront their losses in the last three national elections. As they reevaluate their strategy, Democrats should remember that Bill Clinton, a President who put the policies before the politics, led them to easy victory, while current leadership is courting disaster.
There’s an opening for a true New Democratic leader. Advocating for a strengthened Social Security system that includes ownership is the easiest way to start.
Posted by Jonathan Swanson
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