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+--- Thread: Do Republicans know how screwed we'd be if Bush's second largest goal of privatizing Social Security happened? (/thread-9988.html)
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Do Republicans know how screwed we'd be if Bush's second largest goal of privatizing Social Security happened? - Don sack - 10-14-2012 03:29 PM
Consider if everybody's retirement had been solely tied to the market with essentially no safety net as the Republicans have wanted for years and tried to achieve immediately when Bush took office. The recession would have wiped out a huge majority of retirement funding for a large portion of America and we'd be in a full on depression far worse than the one in the 1930's.
- agreeableapple178 - 10-14-2012 03:37 PM
Good thing it didn't happen, then... huh.
What if a President hypothetically spent 4 trillion dollars in a 3 month time frame just after being elected... oh wait.
- bomb698 - 10-14-2012 03:37 PM
NEWSFLASH : Bush is no longer the President.
Woulda coulda shoulda.
Who is the current President and why is he running the country into the ground and why would anyone in their right mind fall for anything he ever said?
- MisunderstoodHard977 - 10-14-2012 03:37 PM
Hmmmm, like everyone's 401Ks that are climbing slowly back up, no thanks to anti-capitalists like Biden...
Would still rather have control over my own money than allow the government.
SoS will be bankrupted of its own accord in due time... 2017 is a Conservative figure.
Then who will you blame?
- Not I - 10-14-2012 03:37 PM
Would not matter if obama socializes healthcare. The government will decide keeping us alive into old age just is not cost effective.
- brown9500.v10 - 10-14-2012 03:37 PM
That is probably why the economy exploded on Bush's watch.
The Neocons were probably counting on our retirement funds to prop up the derivatives market a few more months, so it would crater after they inevitably lost in 2008, and then they would blame the Democrats.
- ohbrother - 10-14-2012 03:37 PM
We are screwed anyway. Everytime Social Security has been raided it has been a Democrat President and Democrat Congress. Bill Clinton being the last. He raided Social Security for 158 billion. Read the CBO report of March 1999.
Here I'll save you the trouble.
This is from the C.B.O. 1999. and what Clinton did. The only way a surplus can be created is by lowering taxes and cut spending. Neither of which the Democrats have ever done.
Yesterday the Congressional Budget Office (CBO) released its preliminary re estimate of the White House budget. This follows the Joint Committee on Taxation's (JCT) re estimate of the Clinton White House's tax provisions last week. Together, CBO and JCT are Congress' official estimators -- nonpartisan entities that Clinton himself promised to use when he first took office back in 1993.
President Clinton has promised to protect Social Security, to reduce the debt to the maximum extent possible, to control spending, and reduce taxes. But, Congress' official estimators show that on all four counts, the President's budget fails. Instead, Clinton's budget raids the Social Security trust fund for $158 billion in five years, it artificially erases the surplus, it lowers the public debt less than doing nothing would, it increases spending, and it raises taxes by $89.7 billion over the 1999-2009 period.
Clinton Raids Social Security: According to CBO, Clinton spends $40 billion of the Social Security surplus in his budget's first year (2000) and $158 billion over the first five years (2000-2004).
This is the same Social Security surplus that he has promised to save in its entirety.
- Heavy Weapons guy - 10-14-2012 03:37 PM
KEEP CRYING BABY!!!!!
- easilydissolved - 10-14-2012 03:37 PM
Yeah, I know some people's 401 (k)'s getting wiped out when the recession hit. All I could think was, "Thank god Bush failed getting that passed."
- alby - 10-14-2012 03:37 PM
yeah its better for the government to give out social security with money that hasn't existed in decades