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Headlines Bush Starts to Sell Social Security Plan

voiceofreason

Seeker of Truth
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#1
AP

WASHINGTON - President Bush challenged a wary Congress on Thursday to "put partisanship aside and focus on saving Social Security (news - web sites)," promoting his idea that would combine reduced government benefits for younger workers with the prospect of higher retirement checks from personal investment accounts.
Bush, in a speech in Fargo, N.D., noted that that Democrats grumbled and groaned at his assertion that Social Security will require higher taxes, big benefit cuts or massive borrowing unless something is done to fix its finances.


"Some of them didn't see the problem," the president said at the first stop on a two-day, five-state trip to sell his program. Each state he visits is represented in the Senate by at least one Democrat the administration hopes to sway on Social Security.

"I expect people in Congress, when they see a problem, to then come up with solutions," Bush said, insisting that all options are on the table except raising payroll taxes.

"In other words, we're not going to play politics with the issue," he promised. "We're going to say, `If you've got a good idea, come forth with your idea.' Because now is the time to put partisanship aside and focus on saving Social Security for young workers."

Bush was accompanied on Air Force One by several members of Congress, including Sen. Kent Conrad, D-N.D. The president spent much of the flight talking with the lawmakers.

"He's saying we've got to take more money out of Social Security to start private accounts and borrow the money," said Conrad, a target of Bush's travels. "I just think it's very unwise."
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Very unwise indeed.

Here is an example of what Bush is proposing:

Let's just say it costs $5 to fund Social Security over the next 10 years.

So, we go ahead with the plan, and take $2 out to put it in these "investment" accounts, which have to mature for 10-20 years, and make the money unavailable to pay out current benefits.

Now, we are short, so we have to raise taxes or cut benefits.

And it will cost us over a TRILLION to administer this debacle.

It's what they call in the DoD, a fuster-cluck...
 

blw72887

Just a poster
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I see how this can be unwise, just for the fact of making the money unavailable in order to pay out benefits. That's the problem with the social security system, it's not perfect and it could go bankrupt in the next 20 years as predicted if something is not done about it. Bush's plan is not the perfect plan, or may not be the right plan depending on your opinion but he is right about putting partisanship aside and working together with congress to come up with a solution to fix it. After all, we are paying into this and basically we won’t see it, so this is a problem.. a big problem.

I hope that they can find someway to fix it, maybe not waste money.. wait who am I kidding.. the government waste money??..lol

Needless to say a solution needs to be made in order to save social security without reducing benefits and raising taxes.
 

DanGeo23

Resident Conservative
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yeah.. I'd hate to have a plan like the one that Congress and federal employees have... during the election season I remember JK saying something about how we should have the same health bennies as he and other Congressmen have... I guess the same doesn't hold true for SS
 

voiceofreason

Seeker of Truth
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DanGeo23 said:
yeah.. I'd hate to have a plan like the one that Congress and federal employees have... during the election season I remember JK saying something about how we should have the same health bennies as he and other Congressmen have... I guess the same doesn't hold true for SS
Does Congress and federal employees have their own Social Security?

No, JK was talking about Health Insurance.

You seem a little confused...

Medicare and Medicaid are things Bush should focus on, because they are crumbling beneath us, but he's in a rush to fix a system that is not broken...that's "our" boy!
 

DanGeo23

Resident Conservative
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Does Congress and federal employees have their own Social Security?
Congress and federal employees have one plan (thrift savings)... we have Social Security... one works .. one doesn't...
you keep thinking its not broken... and when you have your hand out for your share when you retire and they laugh at you... you'll wish it were fixed...
Medicare and Medicaid are things Bush should focus on
the medicare/medicaid thing is one of the problems with SS... SS wasn't intended to be used as one of those two.. it was intended as a retirement benefit... yet some people draw SS because of disability...
No, JK was talking about Health Insurance.

You seem a little confused...
uhhh.. I stated that he was talkin about health "bennies"... which means benefits.... which implies health insurance.. maybe you're confused...

I am pretty sure I remember the Dems calling for SS reform.. but I have to head to work.. I will look it up later...
 

dustinzgirl

Banned - What an Asshat!
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Letter I got from social security:

If I die or become disabled, then the amount of money my family gets per month

5 years = 550/month
10 years = 350/month
20 years = 00/month

So what the fuck? Im paying for the old and disabled now, with no benefit for myself. its fucking bullshit.
 

bigck3000

The Iron Lung
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rather than complain about it....we should start to plan for retirement....I think thats what they're trying to get across. SS is supposed to be a supplement to other retirement income and possibly a part time job....we have grown soft....the REAL old people knew this...time for all you 'New Old' people to catch on. " bah......damned kids and their.....cereal."

I'm in the semi-fortunate position of being so young that its not plausible that SS and even the U.S govt (as we knew it) will be around.....did someone say Jamaica?
 

RageAgainst

Chaotic Neutral
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#8
This is a planned process of teh privatization of the ss.
 

bigck3000

The Iron Lung
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of course....its called, "Try not to spend all your money on weed."