Wednesday, May 4


Bush says, "FDR would be PROUD???

Bush's personal account plan would do little to close Social Security's funding gap, estimated at $4 trillion over 75 years. To address this problem, Bush last week endorsed the idea of maintaining currently promised benefits for low-wage workers but reducing payouts to future middle-income and higher-paid retirees. His proposal would also guarantee that all retirees received enough benefits to keep them above the federal poverty line for the elderly, now about $9,000. [emphasis mine]
Asked after Bush's event about the president's call to curtail benefits for future middle-income and higher-paid retirees, Lott said: "I'm not overjoyed about that, because I think it does begin to move it more toward a welfare system, as opposed to its original intention. But I don't think we should be wed to romantic ideas if they don't get the job done."

Trent Lott is correct. This is all about turning Social Security, at present an insurance program, into a welfare plan, which will make it much easier, down the road, to just cut it out altogether.

And since when can an elderly person survive on $9,000 per year? Let's see, that's approximately $750 per month. My 84-year-old mother's house is completely paid for, but she still has property taxes of about $300 per month. She has to buy food and pay for heat and water, that's about another $400 per month. Oops, I guess under Bush's plan the costs of dental care, recreation, telephone, TV, Christmas gifts, nursing home insurance, clothing, etc. wouldn't be affordable. Guess she'll have to sell the house she's lived in for more than 50 years and move to some group home for the elderly and eat cat food.

Yeah, FDR would be proud.


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