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 ...
If nothing changes, trustees project a shortfall of about $11 trillion in what the government needs to pay promised benefits to the coming waves of retiring baby boomers and beyond, into what trustees called "the infinite future." The system will start paying out more in benefits than it collects in taxes in 2018.
The way it looks now, welfare may surpass Sosha Security on the success scale. Nevada Senator Harry Reid is in WAY over his head - and the 109th Congress doesn't even convene until January 4th...
"most successful social(ist) program in the history of the world"
Social Security is a throwback to the Depression Era. It should be phased out. To say it is a success is to say bureaucracy and inefficiency is a success.
It's true -- SS has succeeded in achieving the goals of its initiators -- creating a permanent polticial constituency, shoddy economics be damned!
Might have been if every drunk, druggie, and supposedly ADD kid in the country wasn't collecting social security benefits.
Read my tag.
More like a Ponzi scheme, I'd say.
Harry Reid is an embarrassment to the Senate and his opinions are not well thought out. Of course, my Senator, Ron Wyden, is even worse.
Drop social security. Evil ponzi scheme! The founders never intended socialism, knew it was an evil to be avoided at any cost.
While at it, drop welfare, medicare, get the government of the business of business, and out of my wallet!
Top sends
If our SS is the most successful social program, how come members of congress have their own system which is "more" successful?
And here we go. Does Harry Reid even CONTRIBUTE to Sosha Security?
It is the most successful program.
FOR THOSE BORN BEFORE 1950
Now if we can get Dean in as DNC chairman, we will have pulled of the Trifecta!
Hillary's running to the center while all the party hacks are running leftwards. Perfect.
Who is this guy kidding? If he means the most succesful scam game which the politicians can steal from; he is right.
There's a clear difference. A Ponzi scheme is a plan whose investment success solely depends on latecomers putting in money to pay off those who get in earlier AND WHICH IS BOUND TO END IN A BUST. Sounds like SS.
But that's only been possible in retrospect through the base support program of "socialistic senility".
This is a highly inacurate transcript. In every instance, Reid called the program SoSecurity. The SOB's don't even know the name of their damned program.
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