Wednesday, January 05, 2005

Did You Know?

According to this NY Times article, in order to come up with the scary $10 trillion Social Security deficit number, the Social Security trustees, who usually project out to 75 years, projected out to infinity.

The truth is that Social Security is in the black until either 2052 or 2042, and in 75 years will only have a $2-3 trillion deficit if nothing changes. So, we're talking about a program that is going to be solvent for a length of time that is as long as it has even existed until now, but Bush thinks it is in a "crisis."

So, let's see. Osama Bin Laden is still on the loose. Al-Qaeda is bigger and stronger than ever. The war in Iraq is turning into a never-ending nation-building exercise with American marines and soldiers paying the price with their lives daily. And the fact that Social Security is only solvent for the next fifty years is the crisis?

I don't think it's too far fetched to say that it looks like Bush wants to change the conversation?

There is absolutely, positively no doubt in my mind that this is a give away to Bush's business cronies on Wall Street who will be the main beneficiaries of privatization. History and economics show us that there is virtually no way that privatization will be better for the American people as a whole. The average American is going to lose out big time in order to line the pockets of Wall Street brokers. It's clear.

But I guess Bush missed the part in the Bible where Jesus talked about a rich man, a camel, and the eye of a needle...


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