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, June 18, 2005

Free debt for everyone!

The bad ideas continue:
Key Republican lawmakers, scrambling to keep President Bush's Social Security proposals afloat, plan next week to embrace an idea that many have avoided thus far: funding personal retirement accounts with surplus revenue that now pays for other government programs.

The strategy is controversial because it would create new budget problems. Either the diverted money would have to be replaced with new taxes, or Congress would have to slash programs now funded by Social Security's excess payroll taxes.

Of course from a budgetary point of view this is bad because the surplus is one of the only things saving America from the crushing burden of the Bush tax cuts for the wealthy.

From a Social Security standpoint, it's even worse. The projected shortfall will be accelerated causing even more problems for the system with out addressing any of the current projected problems that Bush has tried to hype to sell his idea in the first place. And there is still no plan in place for those who invest in Social Security and fail. So the new GOP plan to "solve" the Social Security problem is... more and accelerated problems!