|
Let's tell it like it is. Bush policies have gotten us into one helluva fiscal "crisis". It is ironic that the Senate and House are about to pass a bankruptcy bill to protect the big banks and CC companies over the common folks - the working and middle class - when it should be the other way around. We need protection from the Big Banks and Credit card companies.
Lest we forget, when the present regime came to power, they had a working surplus of over $250 billion to work with and a predicted $5 trillion surplus in the future. In four short years, they managed to squander the working surplus and put us into record debt and deficits. The only thing that is keeping the deficits from becoming totally uncontrollable is the Social Security trust fund. This year, the SS fund has brought in $180 billion dollars more than it has paid out. That's billions with a "B"! If not for that, the deficit would be nearing $600 billion per year and would no doubt give pause to foreign buyers of our notes.
The Repubs are preaching "private accounts" to help save Social Security. It is insane because it only takes funds out of Social Security that is supposed to be there for retirees down the road. What is more insane is that so many people are buying into the scam.
Social Security is not in a "crisis". But the Bush fiscal policies are in a "crisis". They have cut taxes for the wealthy, at the same time they have raised defense spending to record highs as they fight one war after another. And they want to make their taxcuts permanent. The only consolation we can see is that when they drown the government in the bathtub, Republicans also will be sucked down the drain.
|