Senate Agrees Social Security Needs Help
24 minutes ago
Top Stories - AP
By GLEN JOHNSON, Associated Press Writer
WASHINGTON - The Senate unanimously agreed Tuesday that strengthening Social Security (news - web sites) was "a vital national priority" but split acrimoniously along party lines on what to do about it in the first votes on President Bush (news - web sites)'s plans.
SNIP
In one exception to the party divide, five Republicans broke ranks and voted with the Democrats in favor of a resolution declaring, "Congress should reject any Social Security plan that requires deep benefit cuts or a massive increase in debt."
SNIP
The vote on the resolution, offered by Sen. Bill Nelson (news, bio, voting record), D-Fla., was 50-50, with Republicans Susan Collins and Olympia Snowe of Maine, Mike DeWine of Ohio, Lindsey Graham of South Carolina and Arlen Specter of Pennsylvania joining with the chamber's Democratic minority.
Time for a new RINO tagline!
"What are they AFRAID OF??"
The fact that Bush really hasn't said what his plan is yet?
"Workers choose investments by picking a fund managed by a major private investment firm, from a list officially approved for this purpose and regulated for safety and soundness, similar to the operation of the Thrift Saving Plan for federal employees."
Government managed accounts. Not "private" accounts. I suppose the brokerage houses are faced with a dilemma. On one side, big bucks spent on campaign contributions will bring billions in returns to handle these non-private accounts. On the other side, this massive increase in socialism brings the government as an controller of American business to unparalleled heights, and more scrutiny of broker misconduct.