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Politics : PRESIDENT GEORGE W. BUSH
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To: TideGlider who wrote (672110)2/13/2005 1:54:02 PM
From: Cogito  Read Replies (2) of 769667
 
>>Because it is totally leveraged. If any company defaulted on 30% of their obligations, the remainder of their notes would be called. Of course the Federal Government doesn't run like a business. Businesses and people are not allowed to run fiscal affair like the government. SS is a scheme that needs more and more people at the base to provide for those at the top. The expansion of benefits and the increase in the life expectancy of people have created a potential train wreck. Those who enjoy playing chickie and want to wait til the trains are within feet of each other are reckless.<<

TG -

I think we can all agree that something will need to be done about Social Security. What I'm pointint out is that the President is once again using very emotional language to create fear, in order to press an agenda that doesn't solve the problem he's creating fear about.

He says, "Social Security will be bankrupt." That creates fear. Then he says, "We must establish a private accounts system right now, because we can't afford not to take action." These are not direct quotes, I'm paraphrasing his message. But the net effect of these messages is that people are left with the impression that private accounts must be established in order to keep Social Security from going bankrupt.

That's misleading.

Private accounts won't help solve the Social Security problem.

- Allen
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