"Lieberman’s Triple Flip"
Sen. Joe Lieberman, 5/4/98:
If we can manage the transition, we have a chance to not only do something right, but to give people more confidence about what their retirement years would be like. Of course, it also dramatically increases our savings rate, which has to be good for our economy overall. Not everybody supports this….I think in the end that individual control of part of the retirement/Social Security funds has to happen.
Sen. Joe Lieberman, 10/5/00:
For a while I was drilling into this idea of privatization of Social Security. It requires taking as much as a trillion dollars out of the Social Security fund. The independent analysts have said that would put the fund out of money in 2023, or if it’s not out of money, benefits will have to be cut by over 50%. That’s just not worth doing.
Washington Post, 2/28/05:
Senate Minority Leader Harry Reid has declared that Senate Democrats are united in their opposition to personal accounts carved out of Social Security…Despite Reid’s assertion, however, several moderate Democrats have not ruled out backing a more modest version of the president’s plan. Some of these centrists, such as Sen. Joe Lieberman, D-Conn., have been meeting with Republican colleagues to discuss whether there is a middle ground.