RNC: Friday Facts

Republican National Committee ^ | February 18, 2005

[RWR8189]

FRIDAY FACTS

Greenspan Supports Strengthening Social Security, Class Action Reform, More Positive Economic News And Presidential Nominees Make History

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Greenspan Addresses Social Security Problem; Supports Personal Accounts:

 

Federal Reserve Chairman Greenspan: “My Judgment Is We’ve Got A Problem In, That The Existing Pay As You Go System Is Not Working And We Have To Change It.” (Federal Reserve Chairman Alan Greenspan, Committee On Banking, Housing, And Urban Affairs, U.S. Senate, Testimony, 2/16/05)

 

• Greenspan: “[T]he Fact That There Is A Huge Hole In The System, And We Have No Choice But To Find A Way To Fill It.” (Federal Reserve Chairman Alan Greenspan, Committee On Banking, Housing, And Urban Affairs, U.S. Senate, Testimony, 2/16/05)
   
• Greenspan: “We Are Very Short And We Have Very Great Difficulty In Fully Funding The Existing System …” (Federal Reserve Chairman Alan Greenspan, Committee On Banking, Housing, And Urban Affairs, U.S. Senate, Testimony, 2/16/05) 

Federal Reserve Chairman Greenspan:  “[I]'ve Always Supported Moves To Full Funding In The Context Of A Private Account.”  (Federal Reserve Chairman Alan Greenspan, Committee On Banking, Housing, And Urban Affairs, U.S. Senate, Testimony, 2/16/05) 

• Greenspan: “[M]y Own Judgment Is I Think When You Have Assets Which … You Can Bequeath To Your Children And Which Have Your Name On It. I Think That Is A Highly Desirable Thing Because You Give Wealth Basically To People In The Lower And Middle Income Groups Who Have Not Had It Before.” (Federal Reserve Chairman Alan Greenspan, Committee On Banking, Housing, And Urban Affairs, U.S. Senate, Testimony, 2/16/05)
  
  
• Greenspan: “[T]hese Private Accounts Even Though They Are For Savings, Are Indeed Owned By The People And They Have Wealth Which They Probably Would Not Have Had Before …” (Federal Reserve Chairman Alan Greenspan, Committee On Banking, Housing, And Urban Affairs, U.S. Senate, Testimony, 2/16/05)
  
  
•  Greenspan: “I Can Conceive Of These Being Extraordinarily Popular Accounts And If They Are, I Think It Has A Very Important, It’s A Very Important Addition To Our Society Because As You Know, I’ve Been Concerned About The Concentration Of Income And Wealth…”  (Federal Reserve Chairman Alan Greenspan, Committee On Banking, Housing, And Urban Affairs, U.S. Senate, Testimony, 2/16/05)

President Bush Signs Class Action Fairness Act:

 

President Signed Class Action Fairness Act Today.  “President Bush on Friday signed a bill that he says will curtail multimillion-dollar class action lawsuits against companies and help end ‘the lawsuit culture in our country.’” (Jesse J. Holland, “Bush Signs Bill To Curb Class-Action Suits,” The Associated Press, 2/18/05)

 

• Class Action Bill Important Step In Ending “Abuses.”  “The legislation is designed to end abuses such as ‘venue shopping’ for lenient state courts to hear class-action lawsuits and settlements in which consumers get little or nothing but lawyers collect huge fees.”  (Maura Reynolds, “Legal System Makeovers Fill The GOP's Briefcase,” Los Angeles Times, 2/18/05)
  
  
• Class Action Reform Signals GOP’s Proactive Reform Agenda. “Republican lawmakers pushed ahead Thursday on efforts to remake the legal system, with the House adopting a bill to place new limits on class-action lawsuits and senators voting to move a long-debated overhaul of bankruptcy laws to the floor.” (Maura Reynolds, “Legal System Makeovers Fill The GOP's Briefcase,” Los Angeles Times, 2/18/05) 

Continued Positive Economic Indicators:

 

“[T]here Was Good News On The Domestic Labor Front. The Number Of Americans Claiming Initial Jobless Benefits Fell For A Third Straight Week To The Lowest Level Since October 2000, Before The Economy Tipped Into Recession.” (Richard Leong, “Economy Strong, Suggests Report On Business Activity,” The Philadelphia Inquirer, 2/18/05)

 

• “First-Time Claims Dropped By 2,000 To 302,000 In The Week Ended Feb. 12, Defying Wall Street's Forecast For A Rise To 315,000, The Labor Department Said Yesterday.” (Richard Leong, “Economy Strong, Suggests Report On Business Activity,” The Philadelphia Inquirer, 2/18/05)
   
• “The Level Was The Lowest Since Oct. 28, 2000, In The Closing Months Of The Country's Record 10-Year-Long Economic Expansion.” (Eileen Alt Powell, “Jobless Benefits Claims Reach 4-Year Low,” The Associated Press, 2/17/05) 

“Construction Of Homes And Multifamily Dwellings … Rose To A 21-Year High In January, Led By Record Construction Of Single-Family Homes, The Commerce Department Reported [Wednesday].” (“Housing Construction Reaches 21-Year High,” The New York Times, 2/17/05)

 

More Historic Bush Nominations:

 

The President Nominates John Negroponte As First Director Of National Intelligence.  “President Bush on Thursday nominated the U.S. ambassador to Iraq, John D. Negroponte, to serve as the nation’s first director of national intelligence, selecting a veteran diplomat to oversee a historic restructuring of the U.S. intelligence community …”  (Greg Miller, “Iraq Envoy to Be Chief of Intelligence,” Los Angeles Times, 2/18/05)

 

Judge Michael Chertoff Wins Senate Confirmation As Secretary Of Homeland Security. “The Senate confirmed federal judge Michael Chertoff as the nation’s second Homeland Security secretary on Tuesday …” (Lara Lakes Jordan, “Senate Confirms Chertoff As Homeland Security Secretary,” The Associated Press, 2/15/05)

  Alberto Gonzales Sworn In As Attorney General. “Gonzales, a San Antonio native, becomes the first Hispanic to hold the position of attorney general, the highest law enforcement post in America.” (Gary Martin, “Bush Lauds AG, Pushes Patriot Act,” San Antonio Express-News, 2/15/05)

[An Old Marine]

Tough week for the doom and gloom losers of the lefty-lib Democrats.

[Willie Green]

More Positive Economic News

Record US Trade Deficits Spell Impending Economic Defeat
BBC: US data sparks inflation worries
Core Producer Prices Up; Inflation Eyed
Conservatives Put Off by Bush's Talk of Tax Hike

RNC Talking Points: "Ok, everybody, let's pucker-up now. We're going whistling past the graveyard again."

[USS Alaska]

Willie,

Shame on you, using rooters, the bbsee an the la slimes as news sources. In one article they point to the rising cost of cigarettes as a potential source of inflation. Doom and gloom, if you are not a demonRAT, you should consider switching parties, since you spout like one.

[Republican Wildcat]

Another turd on the punchbowl post, from the most economically illiterate member of Free Republic.

[Toddsterpatriot]

Spoken like one who has dealt with Willie in the past.

Check out this one, Willie says sugar subsidies make American sugar cheap.

Willie Logic