Financial Security Is National Security, Too

As I write this campaign blogger post, five of our candidates are participating in an AARP/Iowa Public Television debate regarding health care and financial security. (Obama, as per his DNC-sanctioned-debates-only pledge, is skipping the event. Gravel and Kucinich were not invited, as they do not have active Iowa organizations.) Unfortunately, I do not have television in my apartment, so I'll have to wait for the YouTube before watching it and seeing who won. Nevertheless, I am very confident that Joe Biden will turn in another strong performance. Just this week, he released a detailed retirement security plan showcasing his strength on these issues.

In the 1980s, 83% of America's private sector workers had pension plans. Today, that number is only 20%. Just as dire, "After seven years of stagnant wage growth under the Bush administration, American families are finding it harder than ever to save and prepare for retirement." Just a guess, but those stagnant wages probably have something to do with the fact that most citizens save less than 1%.

My dad once told me that no person should work a 40-hour work week and still struggle to feed their family. That's why Biden's plan for financial security appeals to me. It has five key points:

  • Safeguarding Social Security
  • Expanding Personal Saving
  • Creating Kids Savings Accounts
  • Protecting Pensions
  • Preserving Retirement Investments

    Details include raising the $97,500-salary cap on Social Security taxes, offering retirement plans to more citizens by requiring non-pension-offering employers to allow for IRAs, match contributions to retirement savings, start savings at birth by putting $500 into savings accounts for every baby (the details on this section are great, check them out), protect shareholder's rights, and more. The press release includes all the details, please take the time to read it through! I imagine tonight's debate will earn the proposal some additional coverage, but the Des Moines Register and Associated Press have already printed solid articles.

    Biden is known as a foreign policy expert. He is Chairman of the Senate Foreign Relations Committee, helped end genocide in the Balkans, is the most passionate candidate when speaking about Darfur, and centers his campaign around his political proposal for ending sectarian conflict and preventing genocide in Iraq. It doesn't surprise me in the slightest, however, that he would put out such a strong domestic plan. He's already done it for energy, education, and more. I've heard him speak with passion on a number of other issues, including health care, Katrina recovery, and crime. The guy's a straight talker who doesn't duck questions and knows his policy details, even when they're outside his committee purview. Think the 2000 John McCain, but with Democratic principles and positions.

    When talking about strength on domestic issues, it's important to remember that Biden is the former Chairman of the Senate Judiciary Committee, and played a key role in stopping Robert Bork's confirmation to the Supreme Court.  He still sits on the Committee, and will play an important role in considering Abu Gonzalez's successor. Biden gave us a preview of what's to come in a recent Miami Herald OpEd, listing the four most important priorities as upholding the rule of law, restoring Americans' faith in their criminal justice system, being a straight talker and answer questions, and rededicating the Department to crime (not politics).

    In 1975, in the wake of Watergate, President Ford restored dignity and integrity to the Department of Justice by nominating Edward Levi, then president of the University of Chicago. President Ford didn't know Levi or his politics. Levi acted decisively to reform the FBI and investigate the Nixon administration's abuses and invasions of privacy. We find ourselves in need of an attorney general in the mold of Levi now more than ever.

    The president should view the nomination of a new attorney general as an opportunity to begin to rebuild the credibility of the Department of Justice in the eyes of the American public, Congress and the world. He should use the occasion to send a message that the United States abides by our Constitution, respects the rule of law and scrupulously avoids partisan influence in our criminal justice system. The president can make a small but significant step in this direction by nominating a candidate of unquestioned independence, intellect and integrity to be the next attorney general of the United States.


    The number one blogosphere criticism of Joe Biden is that he voted for the 2005 bankruptcy bill. For some reason, the bill's co-sponsors, Johnson and Nelson, attract far less criticism for the bill, as do the bill's other aye votes, including Reid and Landrieu. Biden voted for that bill because it strengthened alimony laws, something he spent years working for, and because it helped his home state, which it was his duty to represent. I do believe his financial security plan puts to rest any concern about his dedication to the middle class - no one is stronger for America's working families than this Scranton, PA native son.

    Now, it wouldn't be a Transplanted Texan campaign blogger post without a word about the campaign trail or a YouTube video. Thus, I leave you with this set of videos. Man, I love Searchles:



  • Display:


    Re: Financial Security Is National Security, Too (2.00 / 1)

    I missed half of the AARP forum but in the half I saw Joe Biden frickin ROCKED!


    by DoIT on Thu Sep 20, 2007 at 09:52:03 PM EST

    Good Diary.... (2.00 / 1)


    by iamready on Thu Sep 20, 2007 at 10:00:24 PM EST

    Re: Financial Security Is National Security, Too (none / 0)

    his part is BS

    "Gravel and Kucinich were not invited"

    We need to get back to ALL debates being run by the League Of Women Voters. With NO party contol over the debates and mandatory participation in these debates.

    Oh.. and a REAL moderator that has NO political agenda!


    Washington Woman

    Progressive Blue

    by kevin22262 on Thu Sep 20, 2007 at 10:40:46 PM EST

    No (none / 0)

    [Delaware was] "a slave state that fought beside the North. That's only because we couldn't figure out how to get to the South - there were a couple of other states in the way."

    --Joe Biden

    Now as for the Iraq plan, it sounds nice in theory but I have the same problem I have as when I heard it at Drake last spring, how could we guarantee the Sunni's oil without keeping troops in there to force the Shiite dominated government's hand unless we stay in there indefinitely? Even then, we can't even properly defend the Green Zone without contractors/mercenaries.

    Why would Arab gulf states who are barely keeping their own populations in check spend money on Iraq? I can see some attempts at keeping the conflict from spilling over onto their borders but it's in their interest to keep them weak and politically fragmented and to suck up Iranian resources.

    We have no international credibility left. Not the Dems, not after how readily they have capitulated and Biden is still a Democrat. Why would major non-regional powers not involved want to step into the pit of scorpions that is Iraq?

    You think you can get a political settlement and make it stick in 10 months? Maybe when we first started but after all this time that's pony-thinking.


    by MNPundit on Fri Sep 21, 2007 at 01:12:05 AM EST

    Re: Financial Security Is National Security, Too (none / 0)

    The number one blogosphere criticism of Joe Biden is that he voted for the 2005 bankruptcy bill. For some reason, the bill's co-sponsors, Johnson and Nelson, attract far less criticism for the bill, as do the bill's other aye votes, including Reid and Landrieu.

    Um, excuse me, but are any of them running for President? No? Oh, maybe that's why Joe is criticized for his vote.

    Biden voted for that bill because it strengthened alimony laws, something he spent years working for, and because it helped his home state, which it was his duty to represent.

    As I noted here,
    http://www.mydd.com/comments/2007/8/30/1 8534/5777/26#26
     Joe had the opportunity to vote to amend this incredibly harsh law in some sensible and compassionate ways. He did not.


    Karl in Drexel Hill, PA
    by KB on Fri Sep 21, 2007 at 08:43:17 AM EST

    Re: Financial Security Is National Security, Too (none / 0)

    Um, excuse me, but are any of them actually running the Senate? Yes. And did the sharpened criticism only start when he announced he would run? No. Oh, maybe that's why that response misses the mark.

    I do want to point out that I also disagree with that vote and his votes on the amendments. But I still find the heightened, focused, one-issue criticism to be a tad narrow-sighted.


    Ever heard of a Blue Moose Democrat?
    by Nathan Empsall on Sat Sep 22, 2007 at 06:03:13 PM EST
    [ Parent ]

    Re: Financial Security Is National Security, Too (none / 0)

    Yes, the criticism started before he announced his candidacy. The sharp criticism of Biden on this bill continues only because he's running for President. Asking why other non-candidates for President aren't criticized is moot. They're not running.

    I agree that it's pretty narrow to focus on the one issue since Biden's got a good record on so many other votes. Maybe that's what makes the bankruptcy issue so striking.

    He's a good guy. We could do worse. :-)


    Karl in Drexel Hill, PA
    by KB on Wed Sep 26, 2007 at 12:20:20 PM EST
    [ Parent ]

    thoughts on bankruptcy legislation? (none / 0)

    That's a huge domestic security issue by your definition and certainly one that impacts the current and aspiring middle class in a huge way.

    What are your thoughts on the candidates stance on bankruptcy and predatory lending too?


    by DMIer on Fri Sep 21, 2007 at 10:53:39 AM EST

    Re: thoughts on bankruptcy legislation? (none / 0)

    Bankruptcy hasn't been an issue on the campaign trail, so I don't know who would do what as President. I do disagree with Biden's votes in the Senate on bankruptcy, but he (like Carper) was representing Delaware, so I do understand them. That context is important. (Also, Clinton skipped that vote. Not sure if her office released a statement at the time.)

    Dodd's solid on predatory lending, but that's a job he can take care of from his current perch as Finance Committee Chair.


    Ever heard of a Blue Moose Democrat?
    by Nathan Empsall on Sat Sep 22, 2007 at 06:05:48 PM EST
    [ Parent ]


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