It’s a Trifecta: Bush Treasury Sec’y Gives Green Light to Social Security Privatization
Thursday, August 03
Lo and behold, the GOP released yet another new trailer for the the party's top coming attraction for the next Congress; call it Privatization II – Die Hard, With a Vengeance. This time, the starring role goes to Henry Paulson, the newly sworn-in Secretary of the Treasury, who told people gathered at Columbia University:
The President put forward a plan last year to strengthen and modernize Social Security. ... I have always tried to live by the philosophy that when there is a big problem that needs fixing, you should run toward it, rather than away from it. That is one of the reasons I decided to come to Washington, and that is the reason I admire the President's political courage and willingness to address entitlement reform. ... So the President has instructed me to work with Congress on a bipartisan basis to find workable solutions – solutions that will help to keep our economy competitive in the years, and decades to come – and solutions that should not place an unfair burden on future generations.
First: "strengthen and modernize Social Security"? Slashing benefits and gutting the program's finances "strengthens" Social Security? Funny conception of strength, that.
Second: "solutions that will help to keep our economy competitive"? But the president's plan added $2 trillion in transition payments to the national debt; how would sticking our children with a $2 trillion tab make America more competitive?
Third: "should not place an unfair burden on future generations"? Let's say it again: $2 trillion in debt. [See above.]
If Paulsen means it when he says the Bush plan would have strengthened and modernized Social Security, we have to ask how much more of these guys' 'strengthening' and 'modernization' the program can take.
(Hat tip: Think Progress.)
Posted by Americans United For Change Web Team
2 Comments
Olivia Taylor in Washington DC | Friday, August 04 at 11:05 AM
It’s about time a true leader like President Bush takes on the issue of Social Security reform for the benefit of future generations. I wish I could get all my and my employer’s Social Security contributions back so I could privately invest it myself, rather than have the Government lose most of it for me. I’d be so much further ahead without paying those SS taxes all those years. Your recent TV ads are lies and distortions, because people already collecting SS or those soon to retire, will not be affected by the proposed reforms. You have lowered your credibility well below that of Dan Rather’s. Exit left.
PS- “Americans United reserves the right, in it’s sole discretion, to remove or refuse to post blog comments.” A typical statement by those who fear having the truth revealed, and having to defend their lies and distortions when faced with the truth. Darwin B. Dosch
Darwin B. Dosch in York, PA | Tuesday, August 08 at 05:00 PM