The case of the missing crisis

[CottonBear]

http://www.guardian.co.uk/elsewhere/journalist/story/0,7792,1399960,00.html

New York dispatch
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The case of the missing crisis

President Bush is predicting doom for America's social security system, but some critics are questioning his motives, says David Teather

Thursday January 27, 2005

It is has been dubbed "the fake crisis" by its critics, and there are many. Since re-election, the Bush administration has been aggressively arguing that the social security system, which pays cheques to America's elderly, is facing insolvency.

President George Bush insists the system is in need of dramatic reform if it is to avoid going broke. At the heart of his solution is partial privatisation; allowing individuals to divert tax dollars into personal accounts that would be invested in the stock market and carry the attendant risks and rewards.

It would be the most radical reform of social security since the New Deal came into being 70 years ago and, as one commentator has noted, do more to dismantle the programme than any of Mr Bush's Republican predecessors managed to achieve.

The move is an expression of the political capital Mr Bush believes he gained in last November's election. The administration, though, has, unwittingly or not, whipped up a red-hot domestic controversy to rival that surrounding its foreign policy. And there has been an equally forceful backlash.

more...

This is an excellent article from the Guardian.
Once again, one must read the foreign press to get an accurate reading of what is actually happening here in the US.

[dweller]

1. Problem solved

"Over the next 75 years the Bush tax cuts, largely aimed at wealthy Americans, are projected to cost between $10 trillion to $12 trillion. Simply paring the cuts back by a third and putting the cash into social security would cover any funding shortfall. "

dp

[CottonBear]

2. Exactly. It's so simple.

I can only hope that the sheeple citizens of our great land will finally rise up against Bu$hco.

Am I hoping agianst hope? To destroy Social Security is to destroy America.

The conservatives have equated Liberal with America(n values.)

This is the most important issue at hand. We must fight them in order to save our nation and the philosophical concept of "America."