Thursday, November 25, 2004

Social Security Needs Reform

The Bush administration and the Republican controlled Congress is working on a plan to make Social Security solvent for another 60 years. This is something the Democratic Party had the opportunity to do on more than one occasion yet opted out of what undoubtedly will be a difficult process. In the meantime the Democratic Party will evidently continue to obstruct the development of a new system we can all benefit from as evidenced by this recent post on the DNC's blog - Kicking Ass. Below is an excerpt from a recent discussion topic posted by Jesse Berney @ 07:07 PM last night (2004 Nov 24) titled:

The trillion dollar swindle
I'm no expert on the Enron scandals, one of the most complex collections of financial manipulations in the nation's history. But I do know that one big part of the plan was to create companies and move money between them, counting that money as profit. It's kind of like moving a dollar from your left pocket to your right and saying you just made yourself one dollar richer.

Why bring this up now? Because the Republicans are planning on using Enron-style accounting when they privatize Social Security in the coming year.

A brief bit of background. The current taxes you pay into Social Security pay the benefits that Seniors receive. Republicans plan to privatize Social Security by allowing current payees to divert payments into private accounts (which will risk their future guaranteed benefits). more
He certainly did get the first part right where he stated, "I'm no expert. ...," but that's about the extent of his knowledge on the subject. We previously posted a discussion thread on this subject titled, Ponzi Scheme Requires Social Security Reform, on (16 Oct 2004) -- a must read before commenting.

What's clearly evident is The Democratic Party is fighting for an identity. It's clear the ideals the Party stood for are no longer what they will support today. The Republicans will certainly get bashed as the new ideas to reform the system rise to the surface. The American people are more intelligent than the DNC thinks. They know who is truly working for the American people. Reference Link