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Strategies & Market Trends : The Epic American Credit and Bond Bubble Laboratory
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To: russwinter who wrote (25954)2/7/2005 7:00:41 PM
From: Elroy Jetson  Read Replies (2) of 110194
 
The major flaw George Bush points out should not be overlooked.

Unless the funds collected for Social Security can be segregated somehow, it's inevitable that a fiscally irresponsible President will spend the Social Security money on

various needless wars for no other reason than to pay back contributors and friends with juicy government contracts;

or loot the Social Security funds to pay for income tax cuts while rapidly increasing government spending.

In fact a President that irresponsible may try to hide his crimes by claiming to balance the budget by excluding a long list of major government expenditures. Many Americans are likely dim-witted enough to believe you can balance a budget simply by counting only some of the costs.

The new Social Security scheme is a plaintive cry for help from a President that can't control his urge to spend large and in over his head to be able to understand the consequences.
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