Jeb! Bush spoke in New Hampshire on Tuesday, and American Bridge
was there to see what other jobs he thinks his brother left undone besides Iraq. No great surprise, it's privatizing Social Security! The thing is, Jeb! tried to tread carefully, knowing how people feel about the program. So he started out being very careful in his definitions, but then jumped right in both feet.
Not that Social Security is an entitlement. I learned that in town hall meetings. It's a supplemental retirement system that's not actuarially sound. How about that? And certainly Medicare and Medicaid are entitlements and they're growing at a far faster rate than anything else in government. So it will overwhelm us. The contingent liabilities are clear. We can ignore it as we've done now—my brother tried, got totally wiped out. Republicans and Democrats wanted nothing to do with it. The next president is going to have to try again.
Just to refresh everyone's memories on W's efforts on Social Security: In his 2005 State of the Union Address, Bush laid out his plan
for diverting retirement savings from Social Security payroll taxes into private investments. Which truly did go over like a mashed potato sandwich with the public and members of Congress (except for Rep. Paul Ryan
, who loved it so much he sponsored the legislation to do it). That would, of course, eventually bankrupt the program as less and less payroll tax money came in. And that was and always has been the ultimate goal of Republicans.
As American Bridge details Jeb! was there every step of the way with his brother. Now he's running to finish the job.
Watch the video of Jeb!'s remarks below the fold.