On the DNC website, I saw that they had posted a short dialogue of Cheney from Fox News admitting the cost of Social Security Privatization. The transcript follows:
Feb 7, 2005
Trillions and Trillions of Dollars
Cheney Admits To Privatization Price Tag
Washington, D.C. - Yesterday, Vice President Dick Cheney admitted that the Bush administration's Social Security privatization scheme will cost trillions of dollars which the government must borrow from foreign nations.
TRILLIONS AND TRILLIONS OF DOLLARS
MODERATOR: But you don't think borrowing trillions of dollars more -- you talk about the economy -- increasing an already huge deficit, you don't think that's bad for the economy?
CHENEY: Well, but, again, remember how much we're going to borrow. We're going to borrow $758 million (sic) over the next 10 years to set up the personal retirement accounts. We think that's a manageable amount.
MODERATOR: But trillions more after.
CHENEY: That's right. Trillions more after that.[Fox News Sunday, 2/6/05]
I love it! We should absolutely be playing his up. Spend-and-Borrow Republicans are at it again.
We need to get these costs our there into the general public. They will wonder where these trillions are coming from. There is not point in borrowing all of this money when there are much simpler ways to reform Social Security like raising the $90,000 a year cap.