April 29, 2005

Bush S.S. plan explained, and it ain't pretty

Get informed. Noted economist Brad DeLong explains Bush's scheme to fix Social Security with clarity and insight. Go read.


At 4/30/2005 9:10 AM, Blogger maybesomeday said...

This is no fix people. This is a way for wall street to get rich at the expense of the baby boomers who are going to have a tough enough time at retirement since most of them have 1 or 2 kids to follow them and pay into the system vs the several that their own folks had to pay into the current retirees getting bennies now.

Bush has found yet another way to get some nice little contributuions to his re-election campaign. Look for lots of wall street types to pony up if this gets enacted into law since they will have such a big windfall of cash that it will make your head spin.

If this keeps up the Bushes will become so powerful that we may see Jeb become the next one to take over the white house! Now that is scary.

At 4/30/2005 10:33 AM, Blogger The Inside Dope said...

When one looks into the Bush efforts re: social security it becomes more and more apparent that their M.O. is not to make it solvent and "fix" it, but rather to mess it up so badly that it teeters and colapses to the point where they can then say it must be eliminated altogether.

The comments below DeLong's piece are very interesting and informative as well.

While the major media all touted the Bush line on his "bold" plan for social security, the fact remains that the major feature is that he's simply thrown a bone to people at the bottom of the economic ladder. His plan results in effective cuts in benefits to middle class earners of over 10% by many accounts.

This is yet more smoke and mirrors in the ongoing "bamboozlepalooza" as Bush's Social Security road show has been aptly labeled.

At 5/02/2005 10:28 AM, Blogger maybesomeday said...

Good point Dope but the big question is can Bush and his plan be stopped before the train wreck??


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