That's right, ladies and gentlemen, you heard that here. This is just the latest in the great bullship-a-rama of the Bush(shit) administration.
I go through phases with these guys. After awhile, I settle down with the fact they are in power for the next four years and really start to accept it and deal with it.
Then, one of their morons comes out and says something like this and my bloodpressure goes through the roof
Allowing workers to divert a chunk of their Social Security payroll taxes into private investment accounts would boost government borrowing in coming years but wouldn't increase federal debt, White House budget director Josh Bolten said on Friday
Bush's Social Security plans have stirred a fierce debate over the fiscal implications of creating private accounts. Since payroll taxes are used to pay current benefits, allowing workers to divert a portion into private accounts would force the government to find alternative means of funding payments to current Social Security beneficiaries
Bush has ruled out raising payroll taxes to fund the transition to private accounts. Speaking at the U.S. Chamber of Commerce, Bolten reasserted the administration's stance that the transition should be funded by increased government borrowing
While borrowing requirements - estimated at as much as $2 trillion over the next decade - would be reflected in the near-term fiscal picture, it wouldn't represent "an increase in debt," Bolten said.
He argued that the costs would be a wash over the long haul, with a revamped Social Security system wiping out the program's long-term projected shortfall of more than $10 trillion
"These are not new costs to the system," Bolten said
Where the hell did these guys get this info from?
Whatever drugs these guys are taking, please, pass them on. I have never done anything that gave me a perception this distorted.
OK, seriously,
"We're going to borrow more today to make the system solvent in the future."
Notice he doesn't say when this is? Probably using that old infinite time horizon the administration favors.
Remember Popeye's friend Wimpy?
"I'll gladly pay you Tuesday for a hamburger today?"
That's who we are dealing with.