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Sunday, June 19, 2005

Time to Call a Plumber

Yes, you’ve convinced a lot of people there’s a problem: 

Poll Finds Broad Pessimism on Social Security Payments, NY Times: A majority of Americans are … pessimistic that Social Security will pay the benefits they expect … the … debate over Social Security's long-term solvency … has left its mark … Fifty-one percent of respondents said they did not think Social Security would have the money to pay the benefits they expect when they retire; 70 percent of those under 45 felt that way…

But just as many do not want you to try and fix it:

Poll Shows Dwindling Approval of Bush and Congress, NY Times: ...Two-thirds said they were uneasy about Mr. Bush's ability to make sound decisions on Social Security. Only 25 percent said they approved of the way Mr. Bush was handling Social Security ... Moreover, 45 percent said that the more they hear about Mr. Bush's Social Security plan, the less they like it ... The sharpest drop in Congressional approval in recent months occurred among Republicans ...

Rather than call a professional, who would tell you the problem can be fixed rather easily if you know what you are doing, you are going to try and fix it yourself. All that’s needed is to blow a great big hole in the budget and to borrow a whole bunch more money. Here’s the latest gem of desperation:

GOP Senators to Propose New Tack On Social Security, Washington Post: Key Republican lawmakers, scrambling to keep President Bush's Social Security proposals afloat, plan next week to embrace ... funding personal retirement accounts with surplus revenue that now pays for other government programs. The strategy is controversial because it would create new budget problems. Either the diverted money would have to be replaced with new taxes, or Congress would have to slash programs now funded by Social Security's excess payroll taxes. Republicans said yesterday that they will address those concerns later. … Sen. Rick Santorum (Pa.), [and] ... Sen. Lindsey O. Graham (S.C.) … will join Sen. Jim DeMint (R-S.C.) …

The essence of this proposal is nothing new. It diverts money flowing into Social Security to private accounts. It’s the same old pig dressed up in a different outfit.

Here’s something new. More stories about Social Security!   

And in another surprise, stories on housing:

  Two-faced cats on the lookout for animals on the loose:

           From animals to meaty stories about vegetarians:

Outsourcing, trade, consumer confidence, and oil.  If we threw in immigration it would be pique Lou Dobbs:

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    Posted by on Sunday, June 19, 2005 at 01:17 AM in Economics, Reading, Social Security | Permalink  TrackBack (0)  Comments (1)


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