Democratic Senate candidate Kay Hagan's criticized Republican Sen. Elizabeth Dole's support for privatizing Social Security today, saying the current market crisis would have placed the program in jeopardy.

"I'm absolutely opposed to privatization," Hagan said at a news conference at state Democratic headquarters Wednesday. "Elizabeth Dole campaigned on privatization of Social Security in 2002. George Bush took her on the road with him in 2005 to show that you can campaign for privatization of Social Security and actually win."

Hagan raised the issue at a time when the stock market has been in free fall and people are worried about the declining value of their retirement savings.  There are 1.6 million Social Security recipients in North Carolina, a powerful voting bloc, Rob Christensen reports.

"Where would we be in the last two weeks if Social Security had been privatized?" said Jerry Cooper, executive director of the N.C. Assisted Living Association, who appeared with Hagan.

The Dole campaign Wednesday accused Hagan of "lying to scare seniors" and said it was a campaign tactic that Democrats used nearly every election.

More after the jump.

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