WP: Bush Social Security Plan Would Cut Future Benefits

[Pirate Smile]

Bush Social Security Plan Would Cut Future Benefits

By Jim VandeHei and Michael A. Fletcher
Washington Post Staff Writers
Friday, April 29, 2005; Page A01

President Bush called on Congress last night to curtail future Social Security benefits for all but low-income retirees in an urgent new effort to address the popular program's shaky finances.

With virtually every Democrat, as well as many Republicans, opposed to his plan to allow workers to put some of their payroll taxes into private investment accounts, Bush sought to shift the focus of the Social Security debate to a plan that would cut future benefits more as workers' incomes rise.

"I believe the reformed system should protect those who depend on Social Security the most," he said in a nationally televised news conference. "So I propose a Social Security system in the future where benefits for low-income workers will grow faster than benefits for people who are better off." This is the first time Bush has backed a specific plan to reduce benefits for tens of millions of Americans.

Bush also urged Iraq to follow the U.S.-brokered timetable to complete its political transition, intensified pressure on a nuclear-armed North Korea, defended embattled U.N. ambassador nominee John R. Bolton and pointedly disagreed with social conservatives who say Democrats' efforts to block the president's judges amount to an attack on people of faith.

http://www.washingtonpost.com/wp-dyn/content/article/2005/04/28/AR2005042801044.html

[barbaraann]

1. Here's the plan:

Step 1: Cut SS for the rich, tell the rest not to worry.
Step 2: Cut SS for the middle class, tell the poor not to worry.
Step 3: Cut SS for the poor, sacrifice a virgin to Satan in celebration of the destruction of the pillar of the New Deal.

[proud patriot]

3. Bingo

Hands Off Social Security

[stevebreeze]

2. my favorite part of this pack of lies and misinformation

"I know some Americans have reservations about investing in the stock market, so I propose that one investment option consist entirely of Treasury bonds, which are backed by the full faith and credit of the United States government. "

I mean thank God GW will give us the option of putting our SS funds in Treasury bonds backed by the full faith and credit of the United States government. This is of course as opposed to how the trust fund surplus is handled now. Remember two weeks ago When GW visited the filing cabinet in West Virgina, and showed us all those worthless pieces of paper, that are the trust fund? Oh wait never mind THOSE WERE TREASURY BONDS BACKED BY THE FULL FAITH AND CREDIT OF THE UNITED STATES GOVERNMENT!!!! Why do I feel like someone is selling me a bridge in Brooklyn?

[sidpleasant]

5. That was my favorite part too

Bush has reached a completely new level of logical disconnect when he can simultaneously argue that Treasury bonds are both the safest investment and worthless IOUs. Of course a great deal of his own wealth is invested in Treasuries, but we're not supposed to notice that.

I also liked it when he said "We still at war." Was the President of the United States doing an Amos 'n' Andy impression?

[Erika]

6. If it wasn't so tragic, the truth would make me smile

How he can sell out our country like this is unbelievable. But then he is a corporate globalist. His family economics don't depend on how our country fares. He's got the fix in.

[dogonarug]

8. How can he do it?

He has to. The baby boomer 401k dough that will soon disappear from Wall Street has to be put back in to keep the scam afloat. The "vig" for all that funny money that got him in the WH twice, is due this term. Guido's coming for his kneecaps soon...desperate man, desperate actions.

[zann725]

7. Yeah, I 'caught' that too...right after he also said TONITE they're IOU's

Problem is when you're lying, it's hard to keep "facts" straight.

[grytpype]

9. You are 100% right.

Nothing he says makes any goddamned sense whatsoever.

[Lorien]

4. Combine this with the Medicaid cuts

and you've got a whole lotta pissed seniors and baby boomers (doesn't matter that any changes to SS wouldn't effect them-those I've talked to are freaked about it anyway).

[DeaconBlues]

10. What else are we going to do?

The only other option is to stop Bush's tax-cut giveaway to the rich and to put a halt to our imperial wars around the world. Of course, we can't do those things.