In poll after poll, the American people have rejected the notion of private accounts as a way to enhance Social Security. Even conservatives who generally support President Bush do not support private accounts.
But it is clear that Bush is not listening much to the American people, and he continues to push his agenda regardless of what the people want. The real tragedy of Social Security comes from the out of control Republican deficits. For years, more money has been collected in Social Security than has been spent. This excess is “credited” then spent by the government. There is no real money, just a credit. This credit is meaningless because the current Republican administration has racked up even larger deficits than the last Republican group of fiscal idiots. In 2009 or so, Social Security payouts will exceed the income and the credits will be due. Even though there is billions in “credits,” unless there is a dramatic turnaround in government fiscal responsibility, there will be no real money for Social Security, even if there are private accounts.
Bush’s deficits will have destroyed not only Social Security, but many of the other programs that help retirees, low income people and the ill. Maybe instead of spending a billion dollars a week in Iraq we should be working on balancing the budget instead. Then maybe there will be some money available in 2009 to pay back what has been squandered.
Rob Sandelin
Snohomish
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