Hidden Nook
"Because in Cyberspace, no one can hear you scream."
Monday, February 07, 2005
Bill Clinton and SS reform
[Media Source*] (Hat Tip: Instapundit via Questions and Observations) It appears our former Commander in Chief has some words of advice for his fellow Democrats. Bill Clinton gave a speech to some Democrats in NY in 2002 (words they could definitely use now).
When I left office, there was enough money to keep Social Security going till 2053, enough money to keep Medicare going tail 2027, through half the life of the baby boomers. I don't know what the latest numbers are going to show but they won't be good. If we don't modify the tax cut to have more tax cuts now but we reinstate fiscal responsibility over the long run, we're going to be in real trouble there. So, what's our option? If you don't like privatizing Social Security and I don't like it very much, but you want to do something to try to increase the rate of return, what are your options?
Well one thing you could do is to give people one or two percent of the payroll tax, with the same options that Federal employees have with their retirement accounts; where you have three mutual funds that almost always perform as well or better than the market and a fourth option to buy government bonds, so you get the guaranteed social security return and a hundred percent safety just like you have with Social Security.
Social Security Reform Now!
I don't get it. The Founder of Social Security desired a similar "privitization" of accounts in his original address, the hypocrite Senator Reid (scroll down towards bottom) was for SS reform, and last but not least the most powerful leader in the Democratic party did (and the only successful President in two out of the seven elections) also spoke about having "privitization." Is it me or are the Democrats starting to sound a little bit "dumb?" Selah!
Photo: Clinton Foundation
Thought this picture was kinda cute...because of the MAC. ;)
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By Darnell Clayton ⢠7:55 PM ⢠Email Post ⢠â¢
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