Pants afire!
He's wearing the flaming trousers again. (No wonder he's worried about asbestos liability.) From the LA Times coverage of the Social Security propaganda event Tuesday:
If you believe the Social Security Trustees estimates, which are intended to be pessimistic, they'll be paying full benefits until 2042. Oops. Looks like our 25 year old is out of luck. But wait, they'll still be paying 70% of benefits. And those will be the wage-increase-based benefits of the current system, not the lame price-increase-based benefits in some suggested plans. Even 70% will be more dollars than today's retirees are getting. Sounds quite a bit different from "flat bust, bankrupt".
And if you believe the CBO numbers, our 25-year-old will get 8 years of full benefits before they get reduced, if we do nothing.
Or, we could convert our relatively robust social insurance program by cutting benefits, diverting people's taxes to pay Wall St. brokerages, and, while distracting voters with the promise of riches, guarantee that most of them will be worse off than if we did nothing. While adding an enormous debt burden that will not only undermine our economy, but prevent us from dealing with the real problems with the Medicare system, and healthcare in general. (No wonder he has to lie about it.)
I know! We could fix the Social Security shortfall by selling off all those weapons of mass destruction we confiscated from Iraq!
The president looked at [27-year-old Josh]Wright approvingly. "At your age," he said, Social Security "will be bust by the time it comes for you to retire." ...OK, so, say someone is 25, and they're going to retire at 65. That will be in 2044, right?
"If you're 20 years old, in your mid-20s, and you're beginning to work, I want you to think about a Social Security system that will be flat bust, bankrupt, unless the United States Congress has got the willingness to act now," Bush said.
If you believe the Social Security Trustees estimates, which are intended to be pessimistic, they'll be paying full benefits until 2042. Oops. Looks like our 25 year old is out of luck. But wait, they'll still be paying 70% of benefits. And those will be the wage-increase-based benefits of the current system, not the lame price-increase-based benefits in some suggested plans. Even 70% will be more dollars than today's retirees are getting. Sounds quite a bit different from "flat bust, bankrupt".
And if you believe the CBO numbers, our 25-year-old will get 8 years of full benefits before they get reduced, if we do nothing.
Or, we could convert our relatively robust social insurance program by cutting benefits, diverting people's taxes to pay Wall St. brokerages, and, while distracting voters with the promise of riches, guarantee that most of them will be worse off than if we did nothing. While adding an enormous debt burden that will not only undermine our economy, but prevent us from dealing with the real problems with the Medicare system, and healthcare in general. (No wonder he has to lie about it.)
I know! We could fix the Social Security shortfall by selling off all those weapons of mass destruction we confiscated from Iraq!
posted by Paul at 7:56 AM |
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