Indigo Insights

Thursday, January 22, 2004

In a time bind today, but want to remind readers to stay in touch with Chuck regarding the Kenneth Walker case. I'm afraid I'm still in a snit about the whole thing and it's so much easier to refer you to him. (saves on BP Rx too!) Updates here.

Item Two: Are There Two John Edwards? For your edification, a pastie of E-letter from NC GOP Chairman Ferrell Blount.

Are There Two John Edwards?

One Says He Opposes Investing Social Security $$$, Other Says OK to Invest…

(Raleigh) – United States Senator John Edwards apparently has trouble remembering where he stands on important issues. Recent news stories have highlighted his “politically selective” amnesia on many important campaign issues. And according to reports released today, Edwards has also changed his position dramatically on whether to invest Social Security funds in the stock market.

According to Edwards campaign web site; he "strongly opposes investing Social Security in the stock market." In a page titled "seniors," Edwards says he "strongly opposes recent efforts to privatize Social Security, which would jeopardize benefits by risking our Social Security funds in the stock market." (John Edwards for President Website,, Accessed 1/14/04.)

But, in a speech on October 6, 1998, in Raleigh, Edwards told a group of senior citizens that Social Security surpluses - money not needed immediately to pay benefits - should be invested and kept separate. (Estes Thompson, "Edwards Calls For Social Security Protection," The Associated Press Political Service, 10/7/98.) 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. (Charlotte Observer, October 8, 1998; Nearing The Crossroads: Key Decisions on Social Security Likely to Confront Senate Winner.)

And 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." And the Wilmington Star-News reported on the Edwards speech at Elon under the headline: "Many in poll fear uncertain future on social security." (Charlotte Observer, September 27,1998; Era of Surplus' Brings New Temptations, Taylor Batten.)

“Johnny Edwards is like so many North Carolina Democrats – they’ll say one thing here in the South – and then they go to Washington, D.C., Iowa, or New Hampshire and say something else,” said NC GOP Chairman Ferrell Blount. “I’ll tell you one thing, that dog won’t hunt in North Carolina,” said Blount.

Visit the NCGOP Homepage for additional stories