Bush's Data Dump -- the Administration is hiding bad econ news

[lanlady]

The Bush administration is finally facing tough questions about its selective use of intelligence in selling war with Iraq. But Americans shouldn't just be skeptical of what the president says about WMD. They should be skeptical of what he says about GDP. In economic policy even more than in war policy, the Bushies have successfully suppressed, manipulated, and withheld evidence to serve their policy purposes.

http://slate.msn.com/id/2085481/

[papau]

1. Most in Slate is correct - but SS in trouble is Not - O'Neill study is

about liabilities and how much it would take in current taxes to assure future generations of tax cuts (as in decreased national debt with less interest to pay every year) should the population grow quickly again. But they have a payroll surplus now and national Debt is increasing beyond the size of the surplus - meaning the rational for building a huge cash on hand - not invested in gov securities - is missing.

The SS Trustees and the SS Actuaries report both say 2043 is 95% likely as the point that SS needs revision - and that is under bad economic results occur assumptions - granted that is like saying a second Bush term in office.

It is never in trouble under reasonable economic assumptions. And the only "problem", which is under Bush gets a second term in my opinion, is a tax increase on the rich via FIT so that gove can pay back the moneies it has taken from the payroll tax and used to cut taxes for the rich, giving the SS fund gov bonds as assets. If SS asks for cash in exchange for a gov bond so as to pay some part of benefits, the gov must raise more cash - meaning an FIT increase.

And we know Bush and former Tres Sec O'Neill feel about taxes on the rich. Better to steal the payroll tax AND then cut SS benefits - thereby saving it - - - - and if we can throw in private accounts to confuse the discussion, all the better.