Saturday, March 05, 2005

Bush: Social Security a "Train Wreck"

President Bush recently called the Social Security System a "train wreck".

Speaking to a crowd at the University of Notre Dame, Bush said:
“The math just doesn’t work anymore,” Bush said. “I don’t care how you look at it — it’s a problem.”
However, U.S. House Minority Leader Nancy Pelosi has pointed out how President Bush's proposal only makes things worse for younger people. As she recently stated:
"President Bush likes to say that under his privatization plan, young people have the most to gain," the California Democrat said. "But the truth is they have the most to lose."
She went on to add:
"The president's plan will require borrowing trillions of dollars from foreign countries that your generation will have to pay off," Pelosi said. "It is a tax on your future."
This President has promised things to the younger generation that are attractive to them...on first glance. Why not want a private account? This is almost like a parent offering a child an expensive imported sports car when they are 16. Unfortunately, the parent hides the fact that it is the child that shall have to make the payments!

Do not be fooled America! Social Security may need reforms but not dismemberment. Do not allow this safety-net to be pulled from under the most vulnerable!



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