Thursday, May 05, 2005

U.S. warns union not to use union money to defeat Bush's Social Security ideas

From the NYTimes

Guess What. The same U.S. government which has been spending millions of dollars to finance Bush's 60-day, 60-stops campaign to eliminate Social Security is warning the AFL-CIO that they may be breaking the law if they use member's money to "advocate a particular result in the current Social Security debate."

In addition, "The Labor Department also warned the federation that pension plans could be violating their fiduciary responsibilities by suggesting that they might take their investment business away from Wall Street firms that support Mr. Bush's plans."

A.F.L.-C.I.O. officials organized a broad campaign this year against Wall Street firms that appeared to support Mr. Bush's plan.

The campaign included public protests in 70 cities, and it focused on four big companies that had joined a business-backed group called the Alliance for Worker Retirement Security, which is lobbying for the private Social Security accounts.

Two of the firms that were spotlighted, Edward Jones and Waddell & Reed, dropped out of the lobbying group.

Sounds like the Bush administration is feeling the heat and looking for ways to avoid the stove. Think they'll refund the share of our taxes they have spent pushing the SS phase out program?

Nah, I didn't think so either.


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