Bad advice to Bush blamed for Social Security struggle

Washington Times ^ | Mar 11 05 | Ralph Hallow

[churchillbuff]

A senior Republican senator said, "The message coming out of the White House is that we'll fix Social Security by raising your taxes and cutting your retirement benefits and, to get something passed, we'll forget about the personal retirement accounts we promised."

[My2Cents]

It’s probably just McCain. Again.

That was my initial reaction as well.

[churchillbuff]

Social Security is the disease.

It's a disease in this sense: it siphons off, to the government sector, money from our paychecks that could be used productively if we were allowed to save and invest it.

[Terpfen]

Hey, churchillbuff, if you're watching Fox News, they're interviewing Cheney and the topic is SS reform. Said about 2 minutes ago:

Cameron: "The Democrats say if you take personal accounts off the table, they'll talk."
Cheney: "Won't happen."

[My2Cents]

***Ping***

[dead]

Well, in the next paragraph, Congressman Pence puts his name to pretty much that statement.

Congressman Pence is not a senior Senator, and his statement absolutely does not confirm the Senator’s statement about the White House’s position.

Congressman Pence basically restates the position of the conservatives in congress. I share his position and I think in the long run, so does the White House. There's a bunch of posturing going on right now, but the "senior senator's statement" is a bucket of crap. That's why I suspect it was uttered by the McCainiac.

[churchillbuff]

It’s probably just McCain. Again."""

The problem with that analysis is that McCain probably AGREES that the right "fix" is higher taxes, lower benefits, and no private accounts. So i can't see McCain COMPLAINING about such a formula.

[Terpfen]

Another line:

Cheney: "I think the vast majority of Republicans will be with us and a lot of Democrats will be too."

So Cheney acknowledges that there are a few RINOs trying to sabotage the plan.

[churchillbuff]

Everything Bush has said publicly indicates he's really committed to private accounts. So I was surprised to read this article, suggesting otherwise. Yes, there an "anonymous" senator, so you can write those comments off. But Congressman Pence's comments imply he's reacting to a real proposal - or what he considers a real proposal - to cut a bad deal with Democrats. I hope this is all a case of confusion -- and I haven't heard anything from the president himself that says he's willing to back down on private accounts. HE HAS TALKED ABOUT RAISING THE INCOME CAP THOUGH -- and THAT'S A TAX INCREASE, A BIG ONE.

[EGPWS]

A senior Republican senator...

More nameless rhetoric.

I have to take a shower anyway.

[John Lenin]

Let the clowns keep trying to tell us we don't think SS is a coming problem, they will all be looking for jobs after the next election.

[dead]

So i can't see McCain COMPLAINING about such a formula.

If McCain ain’t bitching about the Republicans, the microphones go away. That’s why McCain is always bitching about the Republicans. It doesn't matter which position on which issue they are discussing.

On the record and off, he just craves their adulation and will always tell them what they want to hear.

[Terpfen]

I hope Pence isn't describing something coming from the White House. The point of transcribing those Cheney comments was to just clarify that the White House is still on board with personal accounts, so I agree with you in that it's bewildering to see this "no personal accounts" crap flying around. I don't think Cheney would do an interview and say what he said if there was some backdoor proposal that does away with private accounts.

[ARCADIA]

How? High tariffs?

That might be part of the answer; but the real objective should be to make us competitive without jacking up taxes. You want economic balance, not a totalitarian state. We want to do as much trade as we can afford; by exporting what we produce well and importing an equivalent amount of things that we do less well.

Right now, we are so behind the ball that some tariffs may be required to shield a nacent industrial base; but, ultimately we will do more by improving the regulatory environment; reducing the burden of risk management; and, rebalancing some of our costs of living. Medical, education, and housing costs are growing at a rate which seems very dispreportional to the rest of the economy; and, we are going to have to make them more competitive if we are going to align them with the rest of the economy.

[uncbob]

Private accounts will fix the social security funding problem is beginning to sound like Iraq has WMD.

Well If Kadafy was working on NUKES and gave them up ( as a result of SADDAM being toppled) I would say SADDAM was doing the same and in addition he has been out of power for over 2 years just what would he have been doing for those two years after having booted the inspectors out playing NINTENDO games

[cyncooper]

I understand, but they also quote - by name - a congressman who implies that these kinds of cave-in deals are being discussed.

But they're not being discussed. That is the point.

President Bush is not taking personal accounts off the table. You can take THAT to the bank.

Let me guess...you also fell for the "Cheney won't be on the ticket" scam. I have to say, I never fell for that...

[cyncooper]

What is bewildering? There are elements that know how to push your buttons. Don't let them.

[John Lenin]

but, ultimately we will do more by improving the regulatory environment; reducing the burden of risk management; and, rebalancing some of our costs


Do you realize some of the best known 'U.S.' companies are not incorporated in the United States at all? American icons like Costco, American Airlines, Federal Express, and Sears are all incorporated outside the United States! Do you know why? Because the absolute best method of sheltering income from excessive taxation and simultaneously protecting accumulated wealth from lawsuits is to create and use international business structures.

[Peach]

HE HAS TALKED ABOUT RAISING THE INCOME CAP THOUGH -- and THAT'S A TAX INCREASE, A BIG ONE.

Senator Lindsey has talked about raising the cap. I haven't heard the president suggest that at all.

Why don't you back that up with a link.

[ARCADIA]

Social Security is the disease. It's a disease in this sense: it siphons off, to the government sector, money from our paychecks that could be used productively if we were allowed to save and invest it.

Social security is just a mandatory insurance plan. It forces us collectively to plan for our retirement. That the moneys have been squandered by out public servants is another big issue (perhaps a criminal breach of a fiduciary relationship). But, the program itself does not destroy capital. We have the balance of our paychecks, and so far it seems that very little of that tends to be invested or saved; would the elimination of social security miraculously change that kind of behavior?

[wouldntbprudent]

What White House is this "senior Republican Senator" listening to? Not the one occupied by George W. Bush, methinks.

I'm sick of these whiny Republicans who can't even get their stories straight. This one has accepted the Rat spin. If they don't like what their hearing from the White House, instead of picking of their marbles and going home, why don't they get off their fatpads and start working tirelessly to ensure that, say, personal retirement accounts ARE part of social security modernization?

They want the President to carry the ball on every play, while they sit in their La-Z-Boys and yell advice.

But you know what? W is capable of carrying the ball on every play. Just watch.