Bush caving in on social security?

[Celebration]

Sure sounds like it--

http://www.kansascity.com/mld/kansascity/news/politics/11408249.htm

"White House economic adviser Allan Hubbard says President Bush is willing to consider creating individual investment accounts that would be an “add-on” to Social Security instead of having the accounts partly financed by payroll taxes.

“We haven't ruled it out, we haven't ruled it in, but we're certainly willing to discuss it,” he said."

Say, I think I have actually heard of "individual retirement accounts." Of course, I am sure this will be a new, innovative idea.

[Warren Stupidity]

1. they are moving on to plan B

where a) democrats agree to raise the FICA cap so that the middle class can continue to subsidize billionaire tax cuts with the FICA surplus, and b) democrats agree to adjust the COLA so that the old age pension becomes a meaningless stipend and the rentier class can continue to dine in luxury.

[wishlist]

3. Dems should never agree for COLA reduction with health care going up

Raise in FICA cap is at least debateable but COLA reduction should be off the table. The COLA's were already reduced to a miserly level in the Reagan years when the inflation index was changed and the current COLA's are not enough to provide any true cost of living benefit beyond helping to offset the skyrocketing health care costs. COLA reduction will cause erosion of income for all types of government payments that retired and disabled people depend upon including SSI, Civil Service and VA pensions.

[kentuck]

2. Bush hasn't given up....this is a scheme...

just to get the Democrats to the table, in my opinion. Democrats need to make sure the public understands that "private accounts" are off the table before they agree to anything.

[Ironpost]

4. I agree 100%

[patricia92243]

5. Yes, yes and more yes. My understanding is that Bush will use an executiv

executive order to get his way. Makes me wonder why all the hoop-la. Just for publicity I guess - just to make it LOOK like there is really some opposition.

[wishlist]

6. Bush will keep trying to promote private accts to prop up stock market

I am convinced that a major factor in the stock market run up after the election was Bush giving a high priority to his immediate push for private accounts. His failure to get support for private accounts could be part of the stock market downturn, so I am sure he will continue promoting some type of accounts that will bring more money into the stock market.

Last Fall, Kiplinger magazine had an article citing a study of stock market investing which concluded that 20 to 40 year olds are not putting much of their savings in stocks and older investors near or in retirement have reduced their stock holdings. Obvious conclusion is that the markets badly need an infusion of stock investing by younger investors to prop up the market and ensure a good return to older investors as they cash in for retirement.

[Toots]

7. Gee kind of like a Social Security Plus..Where have I heard that before

Why I know it is the plan Gore ran on in 2000 that Bush* criticized at every opportunity. Next I suppose we will be hearing about a "lockbox" as well.

[Just Me]

8. Um. Not! Same goal,...just changing the language in hopes,...

,...the destruction of SS "appears" more appealing.

They still seek to "starve" the program by borrowing a couple TRILLION or more to funnel profits to Wall Street. That would lead to totally BR of the program.

They sure enjoy pooping on the poor and oppressed.