Down Market Casts a Pall on Social Security Plan (Not looking good for *)

[sabra]

<<SNIP>>
http://www.nytimes.com/2005/04/21/politics/21memo.html

Down Market Casts a Pall on Social Security Plan
By RICHARD W. STEVENSON

Published: April 21, 2005


Markets go up and markets go down. But the slide over the last month on Wall Street is hardly good timing for President Bush, who now finds himself with another issue to explain as he struggles to win over public opinion - and the votes he needs in Congress - for his proposal to add investment accounts to Social

After running up gains early in the year, the Dow Jones industrial average has fallen more than 9 percent in the last six weeks, including a drop of 115 points, or 1.1 percent, on Wednesday.

The decline could prove temporary. But it occurs just as the White House is preparing to begin discussing the politically painful benefits cuts that would be part of any legislation to put the retirement system on sound footing, and the decline could make it that much harder for Mr. Bush to convince workers that the sweetener he has offered them, a chance to divert part of their payroll taxes to stocks and bonds, is a winning proposition.

"The times are not on his side," said Irwin M. Stelzer, a conservative commentator and the director of economic studies at the Hudson Institute, a research organization. "You are seeing a Republican Congress saying to itself, 'He doesn't have to run again.' And the market is working against him."

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[Roland99]

1. It's all Clinton's fault

[central scrutinizer]

2. damn librul media!

stop covering the economy and return to the important stories like the Pope, Michael Jackson, and shark attacks.

[liberal N proud]

3. You would think that bu$h's buddies on Wall Street would help

by pumping up the market artificially to make sure he got this scam through. After all it will ultimately be to their gain, Wall Street firms will be racking in the fees from the management of all those pirated accounts.

[Enraged_Ape]

6. Not even they can help him now

These guys didn't make tons of money by making bad investments, and they know this would be a losing proposition on par with buying swampland in Florida.

What I find so funny about this SS thing is that the more Bush talks about it, the worse it gets for him. Day after day he gets to watch, almost helpless, as he destroys this plan a little more. It's got to be the longest 60 days of his life.

[gratuitous]

4. Whaaa?

Just a second here! Are you telling me that markets can go DOWN as well as up? Why haven't we been informed of this? What will happen to my private social security account if the market goes down? Does that mean I will lose money? Who will make up my benefits gap if that happens? Or does that mean that I'll have to get by on less money? What if prices go up, or my rent increases, or gas costs more?

Why didn't someone tell me all this? God DAMN that Bill Clinton! I'm sure it's all his fault!

[sabra]

5. It will always be Clinton's fault all the way down to *'s last day

which will hopefully be sooner that 2008.

[calimary]

7. Exactly. Think 2006. THEN, think IMPEACHMENT.

And don't forget the "removal from office" part that goes with a successful impeachment. How I would LOVE to see THAT added to bushie's "exemplary" record.

[central scrutinizer]

8. relax, there are guarantees

The Wall Street money managers guarantee to continue charging fees and percentages even if the markets go down. The credit card companies guarantee that your mailbox will be filled with credit card offers even if the market goes down.

[PA Democrat]

9. Thank God! I know that *I'll* certainly sleep better at night

knowing that corporate profits are safeguarded!

[gratuitous]

10. Oh, well that's a relief

And if I get too far behind, I can always declare bankruptcy and wipe out all those debts, right?

[opihimoimoi]

11. The GREED abd ARROGANCE of BushCO is SOOO BLINDING

its Pathetically sad.....

Those 3%ers who control much of America wants to dominate to the point of absolute RULE.....Humanity have tried this numerous times and all have FAILED......


MISERABLY

[qanda]

12. Right on cue...

The market goes up, up, up!

[yellowcanine]

13. * at 42% in Iowa. Didn't Iowa go red last year?

Michigan is not isolated. A Des Moines Register poll released Sunday found Bush's approval rating in Iowa down to 42 percent, the lowest of his presidency. Only 24 percent of Iowans approved of his handling of the federal budget, 26 percent approved of his efforts to change Social Security and 36 percent approved of his handling of the economy.

[Iowa]

16. Yep, Iowa went red in 2004

It was very close. Now Bush is tanking here.

[fertilizeonarbusto]

14. *clearing throat for Freeper-style rant*

BUT HE'S A POPULAR WARTIME PREZELDENT AND IT'S ALL CLENIS'S FAULT. WHY DO YOU HATE 'MURRIKA AND WANT THE TERRISTS TO WIN?
:crazy:

[wellst0nev0ter]

15. Eh, There Was A Sucker Rally Today

gain of 200 points, just wait for a retraction.