Bush: I'm Going to Privatize Social Security

I just read the Ron Suskind article in the Sunday New York Times magazine with all sorts of juicy quotes about Bush's messianic beliefs.

But after all the noise, buried near the end, is a quote that is not to be missed:

"'I'm going to come out strong after my swearing in,'' Bush said, ''with fundamental tax reform, tort reform, privatizing of Social Security.'"

THIRD RAIL ALERT!  Talk it up, everyone!  Bush is on a mission to privatize Social Security.  Get those debate quotes when he denied it.  

•  Recommended

  Everybody should.

  by Coldblue Steele on Fri Oct 15, 2004 at 02:31:35 PM PDT

•  This is HUGE

  Find those quotes where he denied this at the debate.  Look at what he tells his supporters behind closed doors.  What else does he have in his agenda for America?  I want to know!

  More after I get home from work.. This is huge, everyone!

  by daria g on Fri Oct 15, 2004 at 02:39:01 PM PDT

•  This needs to be blasted to the media!

  Send it to the AARP to!

  by chicagoprogressive on Fri Oct 15, 2004 at 02:42:21 PM PDT

•  Who-hoo, the Ownership Society!

  He didn't say he wouldn't privatize SS.  Quite the contrary:

  I believe that younger workers ought to be allowed to take some of their own money and put it in a personal savings account, because I understand that they need to get better rates of return than the rates of return being given in the current Social Security trust.

  What we need to get out there is the GAP in SS this would cause, the costs of which will be enormous.

  

  by Pyewacket on Fri Oct 15, 2004 at 02:42:26 PM PDT

  •  Sure

    But until now, he didn't say he would.  Why didn't he say so?  Because it's deadly.  Tell the seniors and see how thrilled they are to hear about Bush's real plans, the ones he talks about behind closed doors in secret meetings, before he goes out to pull the wool over the eyes of the American public.

    That's what he wants - will there be a real debate over privatizing Social Security?  Oh, no, there won't, because people are AGAINST it.  There will be Bush muddying the waters with talk of ownership to try and get elected by dodging the question, and then boom!, screw you, America.

    by daria g on Fri Oct 15, 2004 at 03:32:56 PM PDT

•  From the 2000 Gore-Bush 1st Debate

  Those on Social Security today will have their promise made, but also to give younger workers the option at their choice of being able to manage some of their own money in the private sector to make sure there's a Social Security system around tomorrow.

  by dcr22 on Fri Oct 15, 2004 at 02:49:41 PM PDT

•  Fundamental tax reform?

  That wouldn't be a National Sales Tax would it?
  

  WASHINGTON --Administration officials denied Wednesday that President Bush is considering a national sales tax, a day after the Republican incumbent said such a tax is "an interesting idea that we ought to explore seriously," The Associated Press reported

  "The president has always believed in lower taxes and a simpler, fairer tax code," White House spokesman Scott McClellan said. But, he added, "There's nothing more to announce at this time."

  by Coldblue Steele on Fri Oct 15, 2004 at 02:54:49 PM PDT

•  Very scary article

  Ron Suskind's article was terrifying, but what is even more terrifying is that Bush could actually get elected and be allowed to run the country. He would be in a mental hospital or prison in any country but the US.
  

  by skrymir on Fri Oct 15, 2004 at 03:20:41 PM PDT

•  3rd debate:

  Bush talks about Social Security.  With plenty of qualifiers - people will get their checks, he says.  He says it'll help younger workers.  He says the Social Security system will remain solvent.  Really?

  BUSH: First, let me make sure that every senior listening today understands that when we're talking about reforming Social Security, that they'll still get their checks.

  I remember the 2000 campaign, people said if George W. gets elected, your check will be taken away. Well, people got their checks, and they'll continue to get their checks.

  There is a problem for our youngsters, a real problem. And if we don't act today, the problem will be valued in the trillions. And so I think we need to think differently. We'll honor our commitment to our seniors. But for our children and our grandchildren, we need to have a different strategy.

  -snip-

  I believe that younger workers ought to be allowed to take some of their own money and put it in a personal savings account, because I understand that they need to get better rates of return than the rates of return being given in the current Social Security trust.

  And the compounding rate of interest effect will make it more likely that the Social Security system is solvent for our children and our grandchildren. I will work with Republicans and Democrats. It'll be a vital issue in my second term. It is an issue that I am willing to take on, and so I'll bring Republicans and Democrats together.

  And we're of course going to have to consider the costs. But I want to warn my fellow citizens: The cost of doing nothing, the cost of saying the current system is OK, far exceeds the costs of trying to make sure we save the system for our children.

  by daria g on Fri Oct 15, 2004 at 03:30:15 PM PDT

  •  What About Us Middle-Aged Voters

    Where do the middle-aged voters fit in in President Bush's scheme?  My guess is we're about to get steamrolled.  I am in my early 50s and my husband is in his early 60s.  I have worked and contributed to Social Security since I was 16.  I already have had my Social Security age raised once.  Now am I going to have my benefits cut, too?  I love the idea of being able to buy into Medicare early that Senator Kerry is advocating.  Both my husband and I have set aside a substantial amount for retirement, but neither of our employers offer retiree medical.  

    by eafredel on Fri Oct 15, 2004 at 04:28:30 PM PDT

    •  Bush won't say

      My mom is in her late 50s and she is worried a whole lot about this, as well as the fact that she keeps losing money from her retirement as the stock market goes down.  I honestly don't know what will happen.  I'm not an expert on this and it won't directly affect me for a long while but Bush is not being honest with the public about his plans.  And I fear that if reelected he will push through an agenda that will leave people at the same lower middle class level as my mom in poverty, frankly.  You can't save up too much on a nurse's salary.  It is so wrong.  And you already paid in!  Bush used the money that could have shored up Social Security to give more tax cuts to the richest 2%, and since he has to have more tax cuts, he'll go and cut benefits for everybody else.  

      by daria g on Fri Oct 15, 2004 at 04:36:39 PM PDT

•  15 to 20 years

  from now I will retire, and I have no idea what my defined-contribution plan will be worth.  In the last 4 years only one kind of investment did well for me: lousy CDs in the bank.  Lousy interest, but positive!  Why, after taxes the interest was nearly as high as inflation.

  Perhaps after Bush stocks will do better, perhaps not.  I really need Social Security to be there if anything else fails.  This is what insurance is for.

  In any case, when asked where he will find a trillion to pay for his plan, Bush neither confirmed nor denied that it will cost so much, but blathered something about cost of inaction being yet higher -- how much?  what time frame?

  This revamping of the tax code is another mystery that is a total disgrace for an incumbent.

  "Vote for Bush.  He wants our children to know how to add and subtract.  He does not."
  

  by Piotr on Fri Oct 15, 2004 at 04:43:24 PM PDT