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To: Les H who wrote (16937)	2/8/2004 7:09:16 PM
From: Lizzie Tudor	Read Replies (1) \| Respond to of 306849

no way. congress is clamping down on this economic recklessness.... finally

To: Les H who wrote (16937)	2/8/2004 8:43:10 PM
From: Tommaso	Read Replies (2) \| Respond to of 306849

It is imperative that we use the democratic system and adhere to the U.S. Constitution and obey the law, and honor our traditions, and fulfill the wishes of the founders of our republic, and uphold peaceful change, and flush this turd down the toilet.

To: Les H who wrote (16937)	2/9/2004 10:16:25 AM
From: Amy J	Respond to of 306849

Les Horowitz, this proposed plan looks better than the current way it's being handled. It lets an individual control their own money (4% per year, up to $1k/yr), meaning the govt can't spend it. It essentially replaces internal IOUs (that the govt can spend) with govt bonds (that the govt can't spend.) Sounds fiscally more sound. Debt is eliminated by a decrease in future SS outlays (because the govt doesn't have to pay you the 4% that you've already put aside.) "the new bonds would be repaid 20 years after that out of program savings, eliminating Social Security's unfunded liability and reducing the tax burden in the long term, advocates say. ... BONDS PROCEEDS TO COVER TRANSITION...to make up for funds diverted to personal accounts and shore up the underlying Social Security system without raising taxes or requiring additional worker contributions. ... To do so, Bush's economic advisers say, the government could issue bonds, the proceeds of which would keep benefits flowing to retirees during the transition to private accounts. ... workers could voluntarily redirect 4 percent of their payroll taxes up to $1000 annually to a personal account. In exchange for the account, traditional Social Security benefits would be offset by the worker's personal account contributions compounded at an interest rate of 2 percent above inflation. ... transition cost for Model 2 at $900 billion ... To cover those costs, the government could start issuing new debt in the coming decades, according to the White House analysis. Government bonds would be used instead of internal IOUs, and they would gradually be paid off using future savings from Social Security because the growth in benefits would be slowed under the plan. Bush touted private accounts during the 2000 campaign as a way to increase retirement savings and keep the system solvent when the baby boom generation retires. forbes.com