GAO Official: No Crisis in Social Security

[joefree1]

GAO Official: No Crisis in Social Security
Wed, Mar 09, 2005
By GLEN JOHNSON, Associated Press Writer

WASHINGTON - Social Security "does not face an immediate crisis," the head of the Government Accountability Office said Wednesday, but it does face a long-term financing problem "and it would be prudent to address it sooner rather than later."

David M. Walker, who heads the nonpartisan Office of Comptroller General, also criticized President Bush for undertaking an aggressive two-month tour to try to sell his plan for allowing younger workers to divert a portion of their Social Security payroll taxes into private investment accounts. Walker suggested that Bush and members of Congress focus on improving financing for the program, which would not be significantly affected by establishment of personal accounts.

The testimony launched formal debate, before the House Ways and Means Committee, on Capitol Hill over Bush's plan to overhaul the federal retirement plan that began as part of President Franklin D. Roosevelt's post-Depression era "New Deal."

"I would have done it differently, I would have done it differently," Walker said, under aggressive questioning by Rep. Charles B. Rangel of New York, the top Democrat on the panel. In his opening statement, Rangel declared, "Private accounts will not be on the table if you are looking for bipartisanship."
More ...
http://story.news.yahoo.com/news?tmpl=story&e=3&u=/ap/20050309/ap_on_go_co/social_security

[Beetwasher]

1. Ha Ha!

And the GAO would know...Take that Chimpy!

[joefree1]

5. I guess this means we will attack Syria

[b...]

2. prediction...

bush still says crisis every chance he gets, will ignore this report until asked, then will manage to spin that the report that it justifies his calling it a crisis.

[Say_What]

3. Wonder how much play this will actually get. n/t

[Chipper Chat]

18. It wont rate a peep in the MSM.....

...I mean, how dare ANYONE criticize our god! Besides, all available space has been allocated to ..Michael Jackson.

[Blue Belle]

26. Maybe it will...

I've seen it on 2 other Internet sites this morning... albeit 8 headlines DOWN from Michael Jackson.

[Guckert]

4. The GAO must be a bunch of terrorist loving traitors who learned

nothing from 9/11. DUH

Sorry, the GOP in me came out.

[Javaman]

6. How much is morons* trip around the US costing us??

He's using our money to travel around the US promoting this fucked up plan.
Any idea of what this is costing us?

[Rose Siding]

7. That could sink those Titanic ads

:D

[The Backlash Cometh]

8. snarf, snarf. I say Congress should yield their power to the GAO.

They're the only ones that have this country's interest at heart.

[napi21]

9. How did the GAO excape the thumb of the King?

I know, I've heard it's supposed to be non-partisan, but so is the FCC, FAA, Justice, and they're not.

I'm certainly glad to hear them stating the truth instead of talking points, but doesn't it seem odd that they seem to be the only agy. that is getting away with talking against ShrubCo?

[cthrumatrix]

10. well I guess it's time for us to look at medicare

[underpants]

11. Some people say this nonpartisan Office of Comptroller General is biased

Some people say..........

[ohtransplant]

12. Don't forget to give the article a 5.

and expect * to focus on this statement, "it would be prudent to address it sooner rather than later." as proof of his "crisis".

[joefree1]

14. Right! Rate this article up

I forgot, thanks for the reminder.

Looks like it's being freeped:
You have given the news article GAO Official: No Crisis in Social Security a rating of 5.
Its current average rating is 2.94 with 1139 vote(s).

[eaglenetsupport]

13. This can only mean the GAO

Hates the troupes and supports gay marriage along with those traitorous seniors.

[yellowcanine]

15. Tom Delay is probably plotting right now on ways to get rid of Walker

and replace him with a Bush toady.

[The White Tree]

16. This would seem to be the perfect Democratic Talking point

for Social Security:

Social Security does not face an immediate crisis, it faces a long-term financing problem. It would be prudent to address that sooner rather than later and we are committed to that. Addressing the financing problem is much more important then dismantling the system by borrowing huuge sums of money to create private accounts.

[flaminbats]

29. young workers are hurt most under *'s plan

Is it my imagination or are most babyboomers younger than 55?
Under this plan both babybusters and babyboomers will pay growing payroll taxes, but shall not enjoy retirement before death.

Democrats are weakest among voters 55 or younger, now is our chance to break the neocon monopoly on these votes.

[Vincardog]

17. Vote jow. Why aren't they talking about increasing jobs and pay?

You have given the news article GAO Official: No Crisis in Social Security a rating of 5.
Its current average rating is 2.94 with 1239 vote(s).

[wryter2000]

19. Chollie!

:loveya: Charlie Rangel!

In his opening statement, Rangel declared, "Private accounts will not be on the table if you are looking for bipartisanship."

That's a Democrat talking. Are you listening, Ellen Tauscher?

[Imalittleteapot]

20. With current Yahoo rating, this story will never get

the attention that's needed. VOTE 5.

[Rose Siding]

21. Related: Taxes May Barely Cover Future Interest -Agency

WASHINGTON (Reuters) - U.S. tax revenues may barely cover interest payments on the federal debt if current deficit-producing tax and spending policies are maintained, the top government policy watchdog warned on Wednesday.

"We could be doing nothing more than paying interest on the debt in 2040," Government Accountability Office Comptroller General David Walker warned federal lawmakers.

In testimony to the House of Representatives Ways and Means Committee, Walker said that scenario assumes President Bush's tax cuts are made permanent and spending for programs other than for health care and retirement grow with the economy.

Bush wants to make his tax cuts permanent, but even if they expire as scheduled in 2010, the country faces daunting budgetary pressures, Walker said.

http://www.reuters.com/newsArticle.jhtml?type=politicsNews&storyID=7857248

[Overseas]

22. kick. Rating still low on Yahoo. eom

[indepat]

23. Hey, Repugs, why not address an immediate crisis of surging Federal debt?

[Bozita]

24. Now that's "news you can use" ... Should be headline stuff!

And the Repug noise machine rolls merrily along.

[Warren Stupidity]

25. Hello Carville

And everyone else on the Democratic side who keeps saying we ought to come up with our own proposals to raise SS taxes and/or lower SS benefits:


It Aint Broke Dont Fix It

PARTY OF ENRON: KEEPP YOUR HANDS OFF OF SS!

[Blue Belle]

27. This is proof that Social Security has been a side show issue.

This whole notion of Private accounts to fix Social Security has been a tough sell from the get-go. But watching Bush continue to back the wrong horse has perhaps unwittingly (or perhaps not) created a diversion from the other prancing Stallions in this Multi-ring Dog & Pony show - Medicare, Bankruptcy reform, State's Rights, and the Budget.

I read a quote from Lindsey Graham referring to Private Accounts this morning: "It's always been a sideshow, but we sold it as the main event. attacking it as the undoing of Social Security. That's what frustrates me -- that we're off in a ditch over a sideshow, and there's plenty of blame to go around."

They know that this "reform" bill has no legs - in the back of their minds, they've probably known it all along.

Meanwhile, the cost of the Medicare prescription drug bill to the tax payers keeps ballooning - and Seniors are STILL paying too much for prescriptions. They're debating to overturn California's "Medical Marijuana", and Oregon's "Death with Dignity" Laws in the Supreme Court - even after these bills were overwhelmingly supported in their states. The Bankruptcy reform bill is on the cusp of passing - leaving options for the struggling poor and middle class even less accessible. And let's not forget the laughable budget proposals that Bush has made that will continue to escalate the rich and push the poor even further in the hole.

Plus... there is the over reported "Lebanon/Syria Crises" that we can't seem to escape. It's funny how this is suddenly a big story now that Syria has occupied Lebanon for 30 years (meanwhile the genocide in Darfur still goes ignored).

Yes, Social Security needs to be fixed - and yes, something should be done sooner than later... but "Crises"? It ain't.

[ProudDad]

28. I just wrote them a little note

And mine wasn't the only one. There were a number of anti-bush posts at this repuke site...

http://www.gop.com/GOPAgenda/SocialSecurityFeedback.aspx?ID=G