But, but, when Bush wanted to do something about Social Security the Dems said there was nothing wrong with the current system.
Yes but he wanted to basically make 401K’s for everyone...can you imagine the outrage right now when everyone had a social security account that is 50 percent less than started in 2003. Our losses in November would have been worse. I know it does not make sense since our Social Security accounts right now are zero, but the main population does not realize that. lol.
The problem with Bush’s proposal was that it solved nothing. It allowed people to have a partial privatization, but it didn’t reduce promised benefits by enough to actually close any long term funding gap - the debt problem was every bit as big as it was going to be without his proposal - it just moved intragovernmental debt to debt held by the public.
That doesn’t help at all...