ICYMI: Democrats hammer Republicans over Social Security as conservative candidates grab the ‘third rail’ [NBC News]

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NBC News: Democrats hammer Republicans over Social Security as conservative candidates grab the ‘third rail’
By Sahil Kapur
August 28, 2022

Key Points:

• When Blake Masters was running for the Republican nomination for Senate in Arizona, he floated what he called a “fresh and innovative” idea.

• “Maybe we should privatize Social Security. Right? Private retirement accounts, get the government out of it,” he said at a June forum with the fiscal conservative group FreedomWorks.

• The party’s Senate campaign arm rolled out an ominous TV ad highlighting the footage, accusing Masters of seeking to “cut our Social Security and privatize it” to finance tax breaks for the wealthy, while “gambling our life savings on the stock market.”

• Ahead of the 2022 election, Masters is one of many Republicans to touch what has been called the “third rail” of American politics — a… popular pillar of the safety net that gives monthly cash benefits to those 62 and older, who vote in big numbers.

• In major Senate and House races across the country, GOP candidates have called for cutting long-term Social Security spending.

• Democrats are trying to make them pay a political price, arguing that the same Republicans created a budget hole by cutting taxes for top earners.

• The Milwaukee Journal Sentinel reported that Sen. Ron Johnson, a Wisconsin Republican, said at a recent campaign stop that Social Security “was set up improperly” and that it would have been better to invest the money in the stock market. Earlier, Johnson told a radio show that Social Security and Medicare should be axed as “mandatory” programs and be subject to “discretionary” spending, meaning Congress would have to renew them yearly or they’d end.

• His Democratic opponent, Mandela Barnes, responded that the two-term incumbent senator “wants to strip seniors of the benefits they’ve worked their entire lives for” and “throw Wisconsin’s middle class overboard” to serve corporate donors.

• In February, Senate Republican campaign chair Rick Scott released an 11-point plan “to rescue America” that requires “all federal legislation” to sunset in five years, unless Congress decides to “pass it again.” Democrats said his idea could sink Social Security.

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