It's Recess-time Somewhere

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February 08, 2006

That Wascely Pwesident

Sneaky little George Bush has pulled a fast one on the American people.

After unsuccessfully gallivanting around the U.S. for the better part of last year, spending our tax dollars trying to con people into supporting his miserable Social Security privatization non-plan, he's written the non-plan into his budget proposal.

Yep. No shit. He's gone and done it.

Unlike Bush's generalized privatization talk of last year, we're
now talking detailed numbers. On page 321 of the budget proposal, you
see the privatization costs: $24.182 billion in fiscal 2010, $57.429
billion in fiscal 2011 and another $630.533 billion for the five years
after that, for a seven-year total of $712.144 billion.

In the first year of private accounts, people would be allowed to divert
up to 4 percent of their wages covered by Social Security into what
Bush called "voluntary private accounts." The maximum contribution to
such accounts would start at $1,100 annually and rise by $100 a year
through 2016.

Now my memory isn't very good, but I could have sworn that this non-plan fell flat on it's face due to waning support from Congress and the deafening shrieks of a whole bunch of outraged senior citizens.

It's not clear how big a reduction in the basic benefit Social Security
recipients would have to take in return for being able to set up these
accounts, or precisely how the accounts would work.

Uh, yeah...... But snookums, if you could just approve this proposal, a lot of my buddies will get really, really rich. No need to worry your pretty little head about the details. Just sign here, and maybe daddy will buy you those new shoes you've been wanting.


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