Bush’s Social Security plan may hinge on the House

We need to be alert on this one…

As Ronald Reagan might have put it, there they go again.

Congressional Republicans, persisting in hopes of enacting some form of private Social Security option despite opposition from the public and the Democrats, are considering the same kind of maneuver that enabled them to pass a controversial Medicare drug bill two years ago.

Democrats Need To Prepare Now For Another Social Security Push By The GOP

THe same tactics used to push the Medicare vote thru could very well be used again on Social Security. Midnight votes, Senate and House bills that differ and are reconciled by the republicans, etc… This article has a very credible view of just how this might happen and a possible solution for the Democrats.

We know that the Bush White House will return from the congressional recess and start pushing again for privatizing Social Security. Yet Bush’s poll numbers are so low on the issue, and vulnerable GOP incumbents so frightened to frontally make this an issue again in advance of the 2006 elections, you would think that there is no chance that the GOP will try again this fall to ram privatization through. You would be wrong.


In Overhaul of Social Security, Age Is the Elephant in the Room

Filed under: Social Security — 3:56 pm

Americans turning 65 this year can expect to live, on average, until they are 83, four and a half years longer than the typical 65-year-old could expect in 1940. And government actuaries predict that American life spans will just keep growing.


President Participates in Social Security Conversation in New York

Filed under: Bush Whacked,Social Security — 7:16 pm

Direct quote from Bush Social Security speech….

See, in my line of work you got to keep repeating things over and over and over again for the truth to sink in, to kind of catapult the propaganda.


Bush Resumes Well-Staged Social Security Roadshow

Filed under: Bush Whacked,Social Security — 10:57 pm

As President Bush resumes his cross-country campaigning to promote his vision of Social Security restructuring, it’s no secret that he’s relying on outside organizations to help provide the supporting cast.

Yet a memo circulated this week among members of one group, Women Impacting Public Policy, illustrates the lengths to which the White House has gone to make sure that the right points are made at the president’s public appearances.

“President Bush will be in Rochester, N.Y., for an upcoming event and has called on WIPP for help,” the memo to members stated.

It went on to describe several types of workers the White House wanted to appear on stage with Bush, starting with a young wage-earner “who knows that SS could run out before they retire.

An Architect of Bush Plan on Retirement Urges Retreat – New York Times

Filed under: Social Security — 1:23 pm

Robert C. Pozen, the business executive who developed the theory behind President Bush’s plan to trim Social Security benefits in the future, urged the president on Thursday to drop his insistence on using part of workers’ taxes to pay for individual investment accounts.

his was one of two blows during the day to Mr. Bush’s policies on Social Security and retirement savingT. In the House, Representative Bill Thomas, chairman of the Ways and Means Committee, disregarded the methods favored by the president to encourage workers to save for retirement – mostly tax incentives for the affluent – and offered completely different proposals of his own.


How to break the logjam on Social Security reform.

Filed under: Social Security — 8:29 am

Several good ideas in this article. It is disturbing to hear that the true deficit is being masked by Congress spending the social security surpluses. This is the real reason that SS is in trouble, Congress cannot/will not reign in spending.

One way to do that would be to create a true “lockbox” that allows people to put their share of the surplus into their own personal account to help fund their retirement. But the account would be limited to no-risk, but marketable, Treasury bills. Every taxpayer who voluntarily chose to create a T-Bill personal account would, in effect, own the key to his own lockbox, containing a significant chunk of their future benefits. The surpluses would become real assets owned by citizens rather than government IOUs–or, more accurate, “I owe me’s”–piling up in a filing cabinet in a federal office in West Virginia.

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