WSJ has Treas. Sec Snow op-ed lie - "One Thing We Can All Agree On"

[papau]

http://online.wsj.com/public/article/0,,SB110618972586931050,00.html

COMMENTARY

One Thing We Can All Agree On

By JOHN W. SNOW
January 20, 2005

The late Patrick Moynihan reportedly began the meeting of a commission he chaired on an important public policy question by saying: "Some of us are Republicans and some are Democrats; some are liberals and some are conservatives. We all have our own political views. Before we proceed, can we agree to get the facts first and only after we have the facts bring our political views into play?" It is my hope that all of us engaged in the discussion on Social Security would abide by the Moynihan rule.

The debate on Social Security reform promises to be both passionate and historic. But its appropriate starting place is an honest recognition of the facts. It is crucial, as the discussion goes forward, that the problem facing Social Security be acknowledged, and the serious nature of the problem agreed upon. Only then may we explore the solutions in as thoughtful, factual and objective a way as possible.

The facts are plain and clear -- the Social Security Trustees report has said the system is not financially sustainable and every year we fail to act the problem gets more severe. Social Security has a long-term structural deficit -- currently forecast to be more than a $10 trillion shortfall. Each year we wait to fix the problem will cost an estimated $600 billion, according to the trustees report. If we maintain the status quo, that shortfall will need to be paid out of general federal-tax revenues, requiring either significant tax increases, benefit cuts or cutting other federal spending. Tax increases would impact every American who pays taxes and would inevitably slow economic growth as well as the creation of new jobs.

It is clear that inaction has serious implications for both the future performance of the economy as well as the retirement security of our children and grandchildren. By acting now we can put the system on a sound financial basis, benefiting both the retirement security of our citizens and avoiding tax increases that would put economic growth and job creation in jeopardy.

Before discussing any possible solutions, we should agree upon the problem. A point on which we can all agree: Social Security is a critically important part of American life. The system has served us well and needs to be sustained and strengthened. Furthermore, we can agree that the fundamental problem is basic arithmetic, not ideology. It is the arithmetic of the demographic shift where people are living longer and having fewer children. With the first of the baby-boom generation beginning to retire in just a few years, it is easy to see that this shift is gaining speed.<snip>

AS USUAL THE GREAT FINANCIAL PROJECTIONS ARE IGNORED BECAUSE SNOW WANTS TO TALK ABOUT WORKER/RETIREE RATIOS AND FEWER KIDS AND BABY BOOMERS - I LOVE THE GOP PARTIAL TRUTH LIES.

[RobertSeattle]

1. Using same analogy we should all be starving!

Back in 1900, there were millions more farmers than there are now. Now we have far less farmers and much more population - using Bush Administration logic we should all be starving.