WASHINGTON, Feb. 4 (UPI) -- The White House is assembling a coalition to privately raise at least $35 million for a pro-Social Security reform advertising blitz.
While many Wall Street investment firms are staying on the political sidelines until more details emerge, the Wall Street Journal said Friday supporters of the president's initiative are confident of their ability to raise the funds needed to promote Social Security reform.
The administration's support of corporate and grassroots reform efforts is intended to help the GOP counter efforts by groups such as MoveOn.org, which is already running TV ads in Republican-held congressional districts.
Those ads are being countered by groups like Progress for America that is scheduled to begin airing its second pro-reform commercial Monday as part of its estimated $15 million campaign supporting personal retirement accounts.
"All the tools we used to elect this president will be available and used to help assist in implementing his agenda, starting with Social Security," GOP National Chairman Ken Mehlman said.
