WASHINGTON, Feb 9 (Reuters) - President George W. Bush's economic advisers said on Monday that an overhaul of Social Security sought by the administration would sharply increase the nation's debt load for decades.
... But in its report, the Council of Economic Advisers played down the implications of such large increases in government borrowing, asserting the cost of doing nothing would be even greater.
... "In reality, the need to add resources to the Social Security system is no less pressing now that the surpluses have disappeared; Indeed, it may be even more so," it added.
I like that - the surpluses "disappeared". Gone missing. We don't know. They were here a minute ago. We didn't do anything with them. They just disappeared.
In case you missed it....Bush's stand-up Treasury Secretary (the one he fired to be replaced by a yes man) Paul O'Neill had suggested that the $500 billion surplus the country had going into the Bush residency could be used to fix the Social Security system. But BushCo thought it could be better spent in tax cuts for the wealthy.
Just thought you might want to know.
I'm still wondering why the Clinton administration didn't do something positive with that surplus before he left office. Aren't you?
....but hey, whatever.
Monday, February 09, 2004
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment
Comments are moderated. There may be some delay before your comment is published. It all depends on how much time M has in the day. But please comment!