Bush-- fucking wimp can't support his own plan

[yesthattom]

YOU VOTED FOR THIS SHIT, AMERICA!

So we kept hearing “Bush... such a strong leader!” during the campaign. So why does this fucking wimp back off from a good fight? A “strong leader” would support his own damn plan.

American Progress Action Fund reports:

Speaking in South Carolina earlier this month, President Bush described the “urgent need for the United States Congress to work with the administration to get something done now” on Social Security. Today, the Senate Finance Committee holds its first hearing on Social Security reform and the White House can’t be bothered to show up. After months of self-congratulations for “taking on the issue,” the administration won’t send anyone to the Senate to take questions on the president’s proposals. Instead, they will rely on surrogates to present their own plans for Social Security privatization. Here’s a preview of what you’ll hear:

The 3 fucked up proposals for replacing Social Security:

POZEN – MASSIVE BENEFIT CUTS FOR THE MIDDLE CLASS: Businessman Robert Pozen, who will testify today before the committee, has a Social Security privatization plan that includes “progressive price indexing.” Current Social Security benefits are calculated based on the growth in wages, a system called “wage indexing.” Some people propose linking Social Security benefits to the growth in prices (price indexing), which would mean big benefit cuts because prices rise much more slowly. Pozen’s “progressive price indexing” maintains wage indexing for low-income workers, switching to price indexing for high-income workers and using a hybrid of the two for the middle class. Although it sounds attractive, the impact of progressive price indexing on the middle class would be devastating. Under Pozen’s plan, the average wage earner who retires in 2075 would see a 28 percent benefit cut. A significant portion of the savings created by benefit cuts is squandered by diverting 2 percent of Social Security payroll taxes into private accounts. President Bush has called Pozen’s proposal “interesting.”    

FERRARA – PIE IN THE SKY: Peter Ferrara, a senior fellow at the Institute for Policy Innovation, proposes allowing huge transfers from payroll taxes into private accounts – far larger than even the president is suggesting. (The president proposes allowing 4 percent of payroll taxes to be diverted; Ferrara proposes 10 percent of the first $10,000 in income to be diverted and 5 percent of all other income.) Under the Ferrara plan “personal accounts would be backed up by a safety net providing a Federal guarantee that workers with personal accounts would receive at least as much as promised by Social Security under current law.” Sound too good to be true? It is. Ferrara “pays” for his proposal by transferring $68 trillion over the next 75 years from general revenues to the Social Security system, more than twice the predicted Social Security shortfall. Since the government is already running a deficit in excess of $400 billion a year, all of this money would have to be borrowed. Chuck Blahous, assistant to the president for economic policy, has commented favorably on the Ferrara proposal.

TANNER – DISMANTLING SOCIAL SECURITY: Michael Tanner of the Cato Institute will present his plan to effectively dismantle Social Security. The Tanner proposal would fully privatize the retirement component of Social Security. Individuals will be able to divert all 6.2 percent of their payroll taxes into private accounts. (They would receive a bond equal to the amount they have contributed to the existing system.) Technically, workers could choose to remain in the traditional system, “accepting a level of benefits payable with the current level of revenue.” Since there would be little or no revenue going into the traditional system, this would mean draconian benefit cuts. If someone invests in private accounts and his or her investments tank, there is no safety net. Don’t take it from us, take it from Peter Ferrara: “Cato wants to get rid of the entire Social Security system.”

Holy shit! Did you read that last one?

At least America isn’t buying this bullshit. Not that this hasn’t stopped Bush in the past from moving forward:

BUSH APPROVAL ON SOCIAL SECURITY SINKS TO 31 PERCENT: Why is President Bush letting these guys take up the mantle of Social Security reform? He hasn’t been the most effective spokesman. After months on the road talking up his Social Security proposals just 31 percent of Americans approve of how he is handling the issue. Bush is so desperate he has recruited Tom DeLay to help him sell his Social Security plan. Today, DeLay is scheduled to participate in a Social Security event with President Bush in Galveston, Texas, and then will fly back to D.C. with Bush on Air Force One. For the latest news and commentary, check out American Progress’s Social Security page.

Comments

[pyffe.livejournal.com]

Now, I figure that if we can't seem to come up with a plan that MAKES SENSE maybe we should leave it to the next group of elected to try.

Why do we have to decide this TODAY? Can't we discuss many options, otherwise known as Brain Drizzling, over a period of time, with each idea being weighed on its merits (as opposed to who/which group proposed it!) and keep the best parts of each one?

Nah. That would mean that they'd have to "make nice" with eachother and we can't have that!