That's interesting about Frist. It's the first i've heard about it.
Has anyone else had any calls from Karl (the enforcer) lately? The following question from yesterday's press briefing has me wondering.
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Q Scott, a month ago, Chairman Greenspan urged a go-slow approach on Social Security reform. Today he stressed the urgency of it. What changed?
MR. McCLELLAN: Well, I think you're probably talking about two different things here. What Chairman Greenspan was referring to two months ago was talking about how we phase in the personal accounts, and by acting now we will have more time to go about that approach and phase it -- phase it in. The President has called for a plan that phases in those personal accounts over time.
So -- and today, what he was talking about is that if you're going to make changes to Social Security, you need to do them sooner rather than later, because if you wait, the solutions -- this is his quote -- "the solutions are going to be very painful." The fact is, that in 2008 -- and I think Chairman Greenspan touched on this a little bit -- in 2008, the first baby boomers are going to start retiring. You have a lessening amount of workers paying for a growing number of retirees. And the current system cannot sustain that over time. It's an unsustainable liability that is facing the system of more than $10 trillion. By 2018, you're going to have shortfalls start to be experienced and what is being paid out is going to exceed what's coming into the system.
And that's why we need to act now. There are serious problems facing Social Security, and it only gets worse over time, and it only -- and it starts costing $600 billion each year you wait to act. That's why it's important to act now when the choices -- you have more choices available to you for addressing this problem.
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I would like to hear Stonewall explain how junior's plan would make those "shortfalls" (previously known as 'bankruptcy') go away. Karl is still keeping junior's cards close to his chest. If he ever thinks he might have a chance of starting us down the road to doing away with Social Security maybe we will learn just how much they project junior's plan will cost. One thing I know for sure is that it will cost much more and probably many times as much as Karl/junior says it will. This is very evident by observing what they said items would cost in the past. They fire people for telling the truth about costs. |
