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To: James F. Hopkins who wrote (15479)	6/1/1999 10:07:00 PM
From: James F. Hopkins	Respond to of 99985

<OT> Just a follow up on the SSI/market fiasco. U.S. Republicans tout plan to guard Social Security Release at 11:06 a.m. WASHINGTON, (Reuters) - Congressional Republicans on Saturday touted their plan to wall off Social Security funds for the benefit of the nation's retirees, warning that Democrats would spend it if given the chance. ''For the first time in the history of the Social Security trust fund, the Republican-led Congress will guarantee that the trust fund is used for the reason it was created: for Social Security,'' California Rep. James Rogan said in the weekly Republican radio address. The Republicans' ''Social Security Lock Box'' plan would require two-thirds of Congress to approve any other use for those funds. ''That's a high threshold to make sure we only spend those dollars on real emergencies,'' Rogan said. Without this legislation, he added, Democrats could spend the money ''like a drunken sailor on shore leave.'' Republicans and Democrats alike have made ''saving Social Security'' a top priority. But so far this year, there has been little action toward actually reforming the Depression-era program. Social Security faces huge financial pressure as baby boomers start retiring in about a decade. It will start spending more in benefits than it collects in payroll taxes around the year 2014, and the trust fund is forecast to be depleted around 2034. President Clinton in January outlined his Social Security plan, which would include investing about 20 percent of the trust fund in the stock market. Republicans have rejected that as a dangerous degree of government meddling in the private equities markets. Republicans and some centrist Democrats generally favor some type of private investment accounts. ^REUTERS@ Reut05:37 05-22-99 (22 May 1999 05:37 EDT) ----------------------------------- They are all a bunch of crooks, and just play political foot ball with it ..the basic idea was a dam good one, but both sides had to screw with it, while the pot calls the kettle black, the bail out of the S&Ls and the Central Bankers eat up 100 times more money than they will talk about, so it was all a rob peter to pay paul..but point your finger at the other guy. It was just suppose to be insurance for them that had bad breaks not an "Entitlement program," ( and the republicans had the most to do with turning it into taht )..but the thought of putting it in the market galls my rear end. Talk about communism , that's worse than any communist ever had brains to devise. We wind up with both communism and Taxes , that then force every working person to support a market system we know is full of corruption. Jim