27
Apr
2005

The Fake Crisis

Economist Paul Krugman explains Bush's latest con -- social security

by ERIC BATES

Rolling Stone

To hear George Bush tell it, Social Security is about to go broke. Since his re-election, the president has launched a full-scale campaign to convince the public that the retirement system will run out of money starting in 2018. "The system goes into the red," Bush told reporters on December 20th at a rare press conference. "Many times, legislative bodies will not react unless the crisis is apparent, crisis is upon them. I believe that crisis is." Social Security, he concluded, "can't sustain that which has been promised to the workers."

To save Social Security, Bush wants to destroy it -- replacing government-guaranteed retirement benefits with private accounts that will be subject to the whims of the stock market. It's an expensive plan. Allowing workers to divert even a small portion of their payroll taxes into private investments, as Bush is proposing, would require the government to borrow at least $2 trillion to make up the immediate shortfall. It's also completely unnecessary, according to Paul Krugman, a prize-winning professor of economics at Princeton University. In a blistering series of columns in the New York Times, Krugman has marshaled the economic data to show that Social Security is not only solvent, it's in much better financial shape than the rest of the federal government. "The people who hustled America into a tax cut to eliminate an imaginary budget surplus and a war to eliminate imaginary weapons," Krugman wrote recently, "are now trying another bum's rush." [...] Read the rest at RollingStone.com: //tinyurl.com/3htpf


© Virginia Metze
logo

Omega-News

User Status

Du bist nicht angemeldet.

Suche

 

Archiv

April 2005
Mo
Di
Mi
Do
Fr
Sa
So
 
 
 
 
 
 

Aktuelle Beiträge

Wenn das Telefon krank...
//groups.google.com/g roup/mobilfunk_newsletter/ t/6f73cb93cafc5207   htt p://omega.twoday.net/searc h?q=elektromagnetische+Str ahlen //omega.twoday. net/search?q=Strahlenschut z //omega.twoday.net/ search?q=elektrosensibel h ttp://omega.twoday.net/sea rch?q=Funkloch //omeg a.twoday.net/search?q=Alzh eimer //freepage.twod ay.net/search?q=Alzheimer //omega.twoday.net/se arch?q=Joachim+Mutter
Starmail - 8. Apr, 08:39
Familie Lange aus Bonn...
//twitter.com/WILABon n/status/97313783480574361 6
Starmail - 15. Mär, 14:10
Dänische Studie findet...
//omega.twoday.net/st ories/3035537/ -------- HLV...
Starmail - 12. Mär, 22:48
Schwere Menschenrechtsverletzungen ...
Bitte schenken Sie uns Beachtung: Interessengemeinschaft...
Starmail - 12. Mär, 22:01
Effects of cellular phone...
//www.buergerwelle.de /pdf/effects_of_cellular_p hone_emissions_on_sperm_mo tility_in_rats.htm [...
Starmail - 27. Nov, 11:08

Status

Online seit 6859 Tagen
Zuletzt aktualisiert: 8. Apr, 08:39

Credits