A day after the Joe Sestak campaign launched its first advertisement of the general election, the Democratic Senatorial Campaign Committee returns today with another attack ad on Republican Pat Toomey.
The ad -- shocker! -- depicts Toomey as a handmaiden of Wall Street. It repeats the dubious leap of logic from the DSCC's first ad linking Toomey's work selling currency swaps and similar derivatives in the 1980s to the downfall of the global economy.
The DSCC couples the Wall Street talk this time with talk of Toomey's preference for privatizing Social Security. Toomey, on the campaign trail, has denied that he ever wanted to privatize the program, but that depends on what your definition of privatize is. He advocated for President George W. Bush's unsuccessful plan to convert the program to personal savings accounts rather than mandatory government withdrawals -- which has resurfaced in modified form in Rep. Paul Ryan's Republican "roadmap" to debt control -- which has become known as "privatization." Democrats point out that if your Social Security had been in the hands of the stock market in the past few years, it wouldn't have done so well.
The DSCC ad also points out that such a plan would have resulted in a lot more money flowing to Wall Street. The privatization line of attack was frequently employed by the Dems during the Mark Critz-Tim Burns campaign, so expect more of it.
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