Sunday, October 05, 2008
Can you trust this bunch to tackle Social Security?
The bailout (rescue) proposal was rather simple. You buy assets of undetermined value and you sell them in the private sector.
In fact, it's very likely that the taxpayer will make a profit when it's all said and done. This is the modern version of the RTC that worked so well in the early 90s!
My concern here was not the rescue or bailout. My big concern was the Dems' wish to load the proposal with gifts for ACORN and some of their other buddies!
Have you heard about the big earthquake destined to hit California?
Let me tell you about the big one headed to Washington. It won't be easy when Social Security or Medicare hits the fan. And they will hit the fan!
According to the experts, it won't be long before that mess lands on a future president's desk.
Where are we on Social Security reform?
Back in 2005, Pres. Bush presented a very reasonable reform that allowed young workers to invest in private accounts. It did not apply to anyone 50 or older. It was intended for younger, or new workers. It did not affect anyone getting a check or about to get a check.
How did the Dems react? They accused Pres. Bush of cutting off your grandmother's monthly check.
Eventually, we will have to get serious about reforming Social Security.
So far, the Dems have reacted to Social Security reform the same way that the left in Mexico has reacted to reforming PEMEX!
Here is the bottom line: Social Security will go broke if we don't reform it! It must be privatized for younger workers! Otherwise, "grandma's check" will bounce or get reduced significantly!