Bush: Social Security Plan Has Safeguards

[maddezmom]

WASHINGTON - President Bush (news - web sites) said Thursday the Social Security (news - web sites) investment accounts he is proposing would have rules to prevent workers from gambling away their retirement money. He appealed for congressional action to shore up the system and said lawmakers supporting him wouldn't be risking their seats.


"This is an issue on which I campaigned and I'm still standing," Bush said at an economic conference promoting his domestic proposals, including Social Security, his leading legislative issue for next year.


"The crisis is now," he said, pressing for an overhaul of the system, which will be under increasing financial pressure as the baby boom generation retires and claims benefits.


He is proposing that workers be allowed to take part of the Social Security taxes they now pay into the system and instead invest in private accounts. But he said there would be restrictions on the money.

more: http://story.news.yahoo.com/news?tmpl=story&cid=544&ncid=703&e=1&u=/ap/20041217/ap_on_go_pr_wh/bush_social_security

Pls alert if it's a dupe.... :) Been a bit busy learning the ropes.

[ayeshahaqqiqa]

1. workers can't gamble away the money

Bush will have already done that.

Anyone who thinks that investing in the stock market isn't gambling needs to have their heads examined.

[Megahurtz]

2. Now that's funny

he blames the gambling on us! :eyes:

[illflem]

3. "lawmakers supporting him wouldn't be risking their seats"

what the heck is that supposed to mean? He threatening congress now?

[Malva Zebrina]

4. Oh yeah

they will be prevented from gambling away thier own money---only the investments approved by the gubbermint will be allowed and think about that. Uh huh.

[rockedthevoteinMA]

5. lawmakers supporting him wouldn't be risking their seats.

would he mean that their seats will be protected by his buddies in the voting machine buziness? :eyes:

[annabanana]

6. there is NO CRISIS

the plan is reckless and irresponsible...

(By the way.. don't we already OWN the government? It's ours, right? So what's all this "ownership" crap?)

[SharonAnn]

7. Repeat that again! THERE IS NO CRISIS! It's all invented by the

people who want to "piratize" Social Security.

If he's so d*mn worried about a program that may not have quite enough funding in 40-50 years (assuming the lowest revenue growth possible in the conservative estimte), then why isn't he worried about a HUGE deficit NOW? And next year? And the year after that? etc.

The reason is that he isn't worried about it. He and his friends just want to get their hands on our money. The quickest way to get rich is to tap into the taxpayer revenue stream and siphon off some money in fees, management oversight, etc. Or just plain steal it like Halliburton does.

Notice that these companies don't go out into the free market and compete for business. They buy their way into the crony's deals of siphoning money off the "government" in the manner of "piratizing" government services.

Of course, we could provide these services at a lower cost by doing it directly but then the cronies wouldn't get their hands on ourmoney.