* trying to sneak SOCIAL SECURITY privatization into 2007 budget

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see this article!


http://ataxingmatter.blogs.com/tax/2006/02/fy_2007_budget_.html

FY 2007 Budget Proposal for Social Security Privatization, Again

snip:

Thus it should not be surprising to anyone that Mr. Bush has again trotted out budget breaking privatization "reforms" for Social Security. In spite of a State of the Union speech proposing a bipartisan commission to consider ways to ensure Social Security's solvency for years to come, the FY 2007 budget proposals include a plan to privatize Social Security at a cost of $700 billion (over the first seven years). See this report on OMB Watch. Although little noticed in the media, the plan would provide for workers to divert funds to private accounts beginning at $1,100 in 2009 and increasing by $100 increments through 2016.

Congressman Steny Hoyer (D-Md) had this to say about the reappearance of Bush's privatization plan.
“This is absolutely stunning. ... Last year, the country emphatically rejected the President’s effort to privatize this critical program. Instead of working in a bipartisan fashion to find a common sense solution to Social Security’s solvency, the President’s budget embraces an ill-advised, unpopular plan that would turn a guarantee into a gamble.” Hoyer Budget Release.

For other commentary on Bush's "stealth" Social Security privatization proposal, see this Washington Post article; this report on SeniorJournal.com, which provides links to the Social Security section of the budget document; and this brief report at PAFCO education fund.

The FY 2007 budget also proposes reductions in Social Security benefits by $2.2 billion over five years and $6.3 billion over the ten-year budget period. See this report on the FY 2007 budget from the Center for Budget and Policy Priorities. If the budget proposals are carried out as planned, 1,900 Social Security Administration positions nationwide would be cut through attrition, possibly hampering the SSA's ability to respond appropriately to changes in status of eligible retirees.



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