Un-spinning the Presidential Press Conference

[pbartch]

Un-spinning the Presidential Press Conference

Robert L. Borosage, co-director of the Campaign for America's Future,
wrote a pretty good piece on Bush's press conference yesterday.

One part really jumped out at me:

"He disparages the Treasury bonds held by the Social Security Trust Fund as simply 'file cabinets full of IOUs.' Then he proposes issuing another $15 trillion of those IOUs over 40 years -- effectively tripling the national debt -- to pay for private accounts."

I caught that right away when he said it yesterday. I just laughed when he suggested that the private accounts should be invested in treasury bonds since people feel the stock market is too unsteady. He talked about how much better that would be than the IOUs that the Trust Fund has right now.

Does the man not understand where the trust fund money is? That it's his tax cuts and war in Iraq that are causing all those IOUs? And that those IOUs are treasury bonds?

The fact that the press never brought up this, never mentioned it, etc. shows just how badly we need media reform in this country.

He just proved how much of an idiot he really is. We really should have a field day with everything he said yesterday, as it was just riddled with contradictions, comments that showed how unwilling he is to compromise, etc. It was also filled with many things that contradict what leaders in the Republican Party and Congress are running around spouting, such as Dems being against his judicial nominees because of faith.

One of Bush's comments showed that he will fight any Social Security "fix" that includes any changes to the rate, such as bumping up the amount of income that is taxed each year:

"I will work with Congress on any good-faith proposal that does not raise the payroll tax rate or harm our economy."

Transcript of Bush's speech:

Part I: http://linktrim.com/219
Part II: http://linktrim.com/21a

You can read Borosage's full article at: http://check.linktrim.com/21b

[rodeodance]

1. so he thinks borrowing trillions to implement private accounts will NOT

harm our economy?

....."I will work with Congress on any good-faith proposal that does not raise the payroll tax rate or harm our economy."......