The Social Security situation doesn't look very good at the moment. According to Terry McAuliffle,
the Democratic party chairman, the committee that Bush appointed to look into social security
met in secret.(http://www.siliconinvestor.com/readmsg.aspx?msgid=16789731)
According to a program on the Jim Lehrer New Hour, we look at decreased benefits.
If Bush had not refunded $300 to many people last summer, and if he hadn't cut taxes.
wouldn't the country and social security be on firmer ground.
Looking back at Social Security when CLINTON was PRESIDENT we had a BUDGET SURPLUS.
Here is an excerpt from a News Hour Program that talks about the surplus!
DIVIDING THE PIE
February 1, 1999
In his fiscal year 2000 budget proposal, President Clinton included a plan to bolster Social Security
and Medicare .
THE BUDGET SURPLUS
JACK LEW, Office of
Management and Budget
Director:"…….". I think
I would agree the first question is
do we set aside 62 percent for
Social Security and put that money back into the Social
Security trust fund? If we've agreed on that, we have a
good beginning. The president's proposal goes beyond
that. The next 15 percent would be dedicated to
Medicare, and the important thing about Social Security
and Medicare is first, it's keeping commitments we've
already made, paying obligations we already have. We
think that's the right thing to do been before we make new
obligations - whether it's on the spending side or on the
tax side.
But, more importantly, the payments to Social
Security and to Medicare are investing money in the trust
funds, which will reduce our need to borrow. Reducing
the public debt is the key to the virtual cycle that will keep
the deficits from returning, will keep surpluses growing
and keep the economy growing. The senator has
described an alternative plan where that 15 percent --
instead of going for Medicare -- would go for a tax cut.
And I would suggest respectfully that that would not have
the same effect on the economy, it would not have a good
effect on the economy.
Reducing debt is increasing
national savings, as Chairman Greenspan testified last
week before Senator Domenici's committee. That's the
best thing to do with the surplus for the economy."
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