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The American people do not like privatization. They are afraid of the debt the president's willing to do. And they don't like benefit cuts. And everyone here should understand all 45 Senate Democrats are united. We are not going to let this happen.

Privatization came on slowly. When something very big happens, like privatization, historians and economists like to think you must have had very big causes. That is not how it happened.

The President's proposed privatization plan would jeopardize that security by cutting guaranteed benefits for future retirees and endangering the benefits of current retirees, people with disabilities, and children who have lost a parent.

Privatization of assets that most of us consider public goods - like airports and highways - has a long, often-uncontroversial history.

There are very powerful and wealthy special interests who want to privatize or dismember virtually every function that government now performs, whether it is Social Security, Medicare, public education or the Postal Service.

Chicago's privatization mania began during Mayor Richard M. Daley's administration, which ran from 1989 to 2011. Under his successor, Rahm Emanuel, the trend has continued apace. For Rahm's investment banker buddies, the trend has been a boon. For citizens? Not so much.

We want to develop innovative ways to promote savings so more Americans can save for their future, but first we need to reject privatization schemes and work together to strengthen Social Security.

We are a coalition government, and that limits our options in some ways. Privatization happens to be one such area.

Privatization of the state-owned economy is not yet on the agenda. We cannot do it immediately; my colleagues would not agree to it. But we must put all forms of ownership on an equal footing immediately and let different types of ownership compete with the state firms.

I'm particularly happy that the Ronald Reagan Building is both public and private, and embraces his lifelong belief... in free and open trade.