Mr. President:

Welcome to North Carolina. We're glad that you came to listen to our people about your idea to privatize Social Security.

Frankly, Mr. President, we don't understand what's behind your idea. Most experts agree that Social Security is sound for years to come and that responsible adjustments to it from time to time will guarantee its solvency. Why you don't focus on strengthening Social Security--instead of making it more risky--is beyond us.

We also don't understand why you would want this important program to be subject to the ups and downs of the stock market. You see, we believe that North Carolinians are smart enough to understand market risk and know that the protection provided by responsible investment in the current Social Security system means that benefits will be there when they retire.

We are also concerned that part of your motivation is to benefit those on Wall Street that would gain from the additional trading created by your plan. North Carolina Democrats don't think this is a good enough reason to risk the economic security of hundreds of thousands of our State's people when they retire.

Mr. President, you may have won reelection in November but North Carolina Democrats will continue to fight for the principles that make America great and one of the most basic principles is economic security. That includes the opportunity to a quality education, a decent job, affordable health care and a secure retirement. We hope that while in our State, you'll hear that North Carolina common sense message and it will help you understand that your privatization proposal just doesn't make sense.

North Carolinians welcome national leaders when they come to visit but next time, let's talk about your ideas in advance so things that don't make sense won't even get put out on the table.

Ed