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Strategies & Market Trends : The Epic American Credit and Bond Bubble Laboratory
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To: Tommaso who wrote (25972)2/7/2005 7:26:46 PM
From: benwood  Read Replies (2) of 110194
 
I think the cap only would need to be lifted to 96k or 100k, not capless, to eliminate the projected shortfall. It doesn't really matter how much Bush campaigns, he's shown that the American public will buy into his sermons no matter what, and so they will gladly turn over their security to the Enron investment bankers et al. As Bush has been saying, it's a screw your grandchildren proposal -- he is saying that benefits will be reduced at some future date, and that taxes won't go up for anybody. This way his handlers, the wealthy, will not abandon him, and the elderly won't either because if you are 55 already then it will be your children and grandchildren, not you, who will absorb downward "adjustment." This crowd has been quite happy to push off onto tomorrow what they couldn't pay for today, or ever.

My hope is that the "debate" wrangles on long enough that the reality that SS is not a serious problem at this point but that Medicare really is in crisis will emerge. Then the shallow pated sheeple hanging on Bush's every statistical lie will perhaps ponder why Medicare isn't being looked at yet SS, with it's very far off projection of shortfall, is being hammered on constantly against a backdrop of a hundred million dollars of impetus from Wall Streeters. But I doubt it.
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