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XXXXX DRUDGE REPORT XXXXX THU JAN 22, 2004 09:54:20 ET XXXXX EDWARDS BACKED STOCK MARKET GAMBLE FOR SOCIAL SECURITY [RESULTS OF A DRUDGE REPORT INVESTIGATION INTO THE MAN OF MYSTERY, DEM HOPEFUL JOHN EDWARDS, WILL BE APPEARING IN THE COMING DAYS IN THIS SPACE...] **Exclusive** Iowa darling and Dem presidential hopeful John Edwards easily flips and flops on major issues, a DRUDGE REPORT investigation can reveal. First up: The senator from North Carolina "strongly opposes investing Social Security in the stock market," according to his campaign website. In a page titled "seniors," Edwards takes a stand on the controversial issue, declaring how he "strongly opposes recent efforts to privatize Social Security, which would jeopardize benefits by risking our Social Security funds in the stock market." But before he decided he was going to seek the Democratic presidential nomination, the DRUDGE REPORT can reveal, Edwards supported investing Social Security funds in the stock market! In a speech on October 6, 1998 in Raleigh, Senator Edwards told a group of senior citizens that Social Security surpluses - money not needed immediately to pay benefits - should be invested and kept separate. A portion of the money, up to 10 percent, could be invested in the stock market and the remainder put in secure investments such as treasury bills, Edwards explained. On September 27, 1998, Edwards told a gathering at Elon College how a small part of the Social Security fund should be invested in stocks and bonds "to see the kind of returns it would produce." Investment brokers and not Washington bureaucrats should decide how the money should be invested, Edwards said. Edwards advocated setting up a new commission to invest "5 to 10 percent of Social Security reserves in private markets. " The Wilmington Star-News reported on the Edwards speech at Elon under the headline: "Many in poll fear uncertain future on social security." Edwards's presidential campaign theme is "There Are Two Americas." But now, the question must be asked, are there two John Edwards? ----------------------------------------------------------- Filed By Matt Drudge Reports are moved when circumstances warrant http://www.drudgereportArchives.com for updates (c)DRUDGE REPORT 20043 Not for reproduction without permission of the author |
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