Reuters: Borrowing Seen in Social Security Plan

[Bleacher Creature]

CRAWFORD, Texas (Reuters) - Facing record budget deficits, the Bush administration likely will turn to short-term government borrowing to help finance its plan to add personal retirement accounts to Social Security, officials said on Saturday.

President Bush's economic advisers have been analyzing financing options for more than a year in preparation for Bush's second-term push to overhaul the Social Security system. Officials say no final decisions have been made.

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http://news.yahoo.com/news?tmpl=story&u=/nm/20041127/pl_nm/bush_retirees_dc
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I'm not an economist, but if this isn't a recipe for disaster I don't know what is. Between this and the constant devaluation of the dollar, "Economic Armageddon" is looking less and less like crazy talk after all.

[madrchsod]

1. there is no place to "borrow" from

unless he decides to inflate the money supply. the rest of the world isn`t going to buy our funny money.

[KnowerOfLogic]

2. Kill 2 birds w/ 1 stone; destroy Social Security and bankrupt

the federal gov't. It's a repuke masterstroke. Weren't the repukes just saying that they *weren't* going to privatize social security? Well, that was so long ago (a month or so); i'm sure it's all gone down the memory hole.