Borrowing to help fund Social Security plan-WHouse

[GHOSTDANCER]

Mon Dec 6, 2004 06:42 PM ET
(Adds White House meeting, reaction)
By Adam Entous

WASHINGTON, Dec 6 (Reuters) - The White House said on Monday it would borrow money to help pay for adding personal retirement accounts to Social Security, after ruling out tax increases to finance a transition experts say could cost $1 trillion to $2 trillion over 10 years.

U.S. President George W. Bush has made reform of the U.S. retirement program a top priority for his second term, and he used a private meeting with congressional leaders on Monday to press for action next year. "Most members (of Congress) recognize that the system needs to be fixed," said White House spokesman Scott McClellan.

Democrats at the meeting urged Bush to propose a more specific plan, aides said. Bush has only issued broad principles so far.

<http://www.reuters.com/financeNewsArticle.jhtml?type=bondsNews&storyID=7009385>

Borrowing to save?? ok? I thought the ones with the money called the shots? and 1.5 TRILLION to fuqin change some way money moves?It cost money to give other people some money??? WTF? Hello??? Mcfly???
by my rough calculations it would cost every paying SS member about 11,000 dollars each?

[Trillo]

1. What a bunch of doublespeak.

Just in the first sentence
1) Borrow to finance.
2) No taxes to pay the borrowing back.

Yeah, right. No more corporate welfare.

[asjr]

2. Years ago people had to go to the Poorhouse to live. This

administration is going to "reform" us all into the poorhouse. I keep hoping to wake up from this nightmare. The Democrats on the Hill are in the minority but they could help stop this. I wonder how many will go along with this madness.

[knowbody0]

3. a clear and present danger

me thinks their goal is to bankrupt our entire system,

[maxsmom]

4. so does Michael Ruppert

See the following post at the Peak Oil Group forum.

http://www.democraticunderground.com/discuss/duboard.php?az=view_all&address=266x81

[knowbody0]

5. thank you

it makes sense.

[smiley_glad_hands]

6. Borrowing money to fill up the coffers of corporations and investors.

This is not reform any more than the medicare benefit is a benefit.

[napi21]

7. We can stop this from happening if we ALL complain LOUDLY!

I'm sure there are some Pugs who don't like this reform idea at all, and I'm sure none of the Dems like it! You saw a bit of some pubs refusal to go along with the intelligence bill, but it was only 2. I'm positive the house and senate are more interested in getting re-elected than they are in going along with boy george, and they will respond to the voters more than george too!

[Moderator]

8. Duplicate

http://www.democraticunderground.com/discuss/duboard.php?az=view_all&address=102x1049772