Time: Taking on Social Security

[Ms_Mary]

I didn't see this posted elsewhere. I'd like thoughts. I'm trying to better inform myself on the issue.


Quoted:
http://www.time.com/time/magazine/article/0,9171,1018030,00.html

"The same can be said for its degree of difficulty. TIME's latest poll gives some indication of what Bush faces: 49% of respondents said they disapprove of the President's handling of Social Security, while only 40% said they approve. And that's before Bush has even put forward the details of his plan. Nonetheless, the President has begun his assault—personally and through a cadre of emissaries from Vice President Dick Cheney to Treasury Secretary John Snow—labeling Social Security a "crisis" that must be fixed. "First step," Bush told TIME last month, "is to make sure everybody understands we have a problem." The President last week surrounded himself with citizens ranging from children to an 80-year-old and warned that the Social Security system will be "flat bust, bankrupt" by the time workers in their 20s retire. As early as 2018, Bush said, "you're either going to have to raise the taxes of people or reduce the benefits." At another appearance intended to promote federal standards for testing high school students, Bush went off script to warn a group of teenagers, "The system will be bankrupt by the year 2040."

That sounds pretty scary—except that it's not true. What will actually happen in 2018, according to the Social Security trustees who oversee the program, is that the money paid out in benefits will begin to exceed the amount collected in taxes. And since Social Security will run a surplus until then (and has been running one for some time), it has billions available that it can tap to fill the gap. Even under conservative estimates, the system as it stands will have enough money to pay all its promised benefits until 2042 and most of its obligations for decades after.

What's more, even if you take the President at his word—that a crisis and bankruptcy are fast approaching—the introduction of private accounts does nothing to slow that process. On the contrary, it makes things worse, by diverting payroll taxes from current retiree benefits and bringing the end of surpluses that much closer. Given all that, what is the President after? "

[radwriter0555]

1. Once again, bush kills us to save us. Like hitler used hatred of the jews,

the bush regime uses the politics of fear to gain control over that which they can gain from; whether for power or profit.

There are no terrorists.

There are no wmds.

SS is not in a crisis until he finishes looting and pillaging it.

[Catchawave]

3. Yes, that's basically what I wrote my Senators.....

mistrust of what this president is telling me. Also, the changes Bush wants to make will be a HUGE windfall for the banking industry, with all those little pesky fees and stuff.

[radwriter0555]

8. what windfall? this will be out and out looting just like with the savings

and loan scam.

The crooked bush bankers will steal the US taxpayer dollar backed money and then our taxes will get RAISED to pay it back AGAIN....

Just like niel bush and silverado.

[BlueEyedSon]

2. "Governing by manufactured crises since 2001."

It's all about manipulating the public to support policies which reward Bush's true constituents (the "haves" and "have-mores").

[TahitiNut]

4. It's an outright LIE. See ...

http://www.democraticunderground.com/discuss/duboard.php?az=show_mesg&forum=102&topic_id=1154126&mesg_id=1154251

and then read ...
http://www.democraticunderground.com/discuss/duboard.php?az=show_topic&forum=104&topic_id=2894430

[Moderator]

5. Reason for move

This is a feature article, not breaking news

[Ms_Mary]

6. Well, darn it. Sorry.

[ginnyinWI]

7. Never trust a liar.

Never, never, never.

Condi is another one: everyone knows she lied about the PDB. Everyone. Now she's going to be Sec. of State. By the way, the confirmation hearings this week will be very interesting: John Kerry to be one of the questioners. Jan. 18th and 19th.