Disconnected Rumblings

Wednesday, March 09, 2005

SS Oh No!

Look out! The non-partisan Government Accountability Office Comptroller General David Walker testified before the congress. What did he have to say? Well alot, but since I am obviously biased, I will pick out the parts I like.

GAO: Personal accounts could hasten Social Security shortfall
"Private investment accounts such as those President Bush endorses not only will not save Social Security, but they also could accelerate the retirement system's financial problems, a nonpartisan government official told Congress Wednesday.
...
They [private accounts] wouldn't shore up the system, he said, if they were financed, or 'carved out,' from current Social Security taxes, as Bush proposes, and accompanied by no other changes. By themselves, he said, such private accounts would 'exacerbate' the system's problems and accelerate the date for when it would start spending more on pension benefits than it receives in annual revenue."
Hello!! Is anyone home? Is anyone listening? Ok just in case. These private accounts, if carved out of the current SS taxes, will ACCELERATE the date when Social Security pays out more than it receives. Hello?!

This proves that el presidente's plan really is much motivated to gut the system that democrats created, a mostly successful SOCIAL program. OOOOOOOO!! The BAD word!
posted by digitaljay @ 10:26 PM MST

0 Comments:

Post a Comment