Posted on 12/09/2004 5:18:28 PM PST by Libloather
MR. RUSSERT: Private accounts for Social Security--the president has made that a priority of his domestic agenda. Will you work with him in privatizing part of Social Security?
SEN. REID: Tim, I can remember as a little boy my widowed grandmother with eight children. She lived alone, but she felt independent because she got every month her old age pension check. That's what this is all about. The most successful social program in the history of the world is being hijacked by Wall Street. Yes, Social Security is a good program. And if the president has some ideas about trying to improve it, I'll talk to him, and we as Democrats will, but we are not going to let Wall Street hijack Social Security. It won't happen. They are trying to destroy Social Security.
(Excerpt) Read more at msnbc.msn.com ...
Back away from the bong.
created his own politican scandal = created his own political scandal
It will continue to be the most sucessful program right until the day the money runs out.
Got news for Harry we are looking at a $43 Trillion shortfall and it's the biggest ongoing Ponzi scheme in history.
Successful how? Perhaps he means successfult political TOOL.
Demcrats have been able to scare seniors into voting for them.
Class warefare has been facilitated with this "successs".
...and the Titanic was unsinkable.
Everyone should be given the option of taking a lump sum cash settlement, right away. This would equal aggregate employee and employer contributions, plus some interest (maybe 2.5% annual rate). After all, we Do have an account balance, right? :)- If this were done, most people under about 40-45 years old would bail out. Those approaching or in retirement would stay with it. More debt would fund the payments, which is the cost of the "reorg". (Any solution will involved more debt.) The socialist redistribution of income would eventually die, as retireees die and the Ponzi scheme is closed to new suckers.
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