Get Your Blog Up

“This administration is populated by people who’ve spent their careers bashing government. They’re not just small-government conservatives—they’re Grover Norquist, strangle-it-in-the-bathtub conservatives. It’s a cognitive disconnect for them to be able to do something well in an arena that they have so derided and reviled all these years.”

Senator Hillary Clinton

Saturday, January 22, 2005

Clogging of reason

Check it:
So in 2018, when the Social Security program tries to redeem these bonds, the Treasury (having already spent that money over the previous 35 years) won’t be able to repay Social Security from any pre-existing store of cash. Taxpayers will be forced to pay extra taxes in order to fund Social Security’s 40 million retiring baby boomers."

The plan currently being tossed around by the Bush administation involves borrowing trillions of dollars to privatize accounts. Can we then argue that taxpayers will be forced to pay extra taxes in order to cover the costs of the Bush privatization plan?