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Politics : PRESIDENT GEORGE W. BUSH
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To: RetiredNow who wrote (378264)3/25/2003 4:15:42 PM
From: DuckTapeSunroof  Read Replies (1) of 769670
 
I agree with you... but at this point in time (considering the massive unfunded liability over-hanging the current system due to the Baby Boomers - some 40% of the population)... there is no way to avoid MASSIVE TRANSITION COSTS.

So, if we are serious about building a private alternative to SS, we must slash current spending and slash deficits IMMEDIATELY... or it just ain't going to happen.

With Bush's 'endless deficits out beyond the visible horizon' economic program (also know as: 'cut a few taxes, mainly benefiting the rich... while INCREASING deficit spending and total spending at near historic rates... and NOT reforming the overly complex and corrupt tax codes') the needed funding for those massive transition costs will not be there.

In fact, we'll be lucky to be able to pay the interest we owe on our bonds held by foreigners....
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