Bush Will He Destroy Social Security

Bush Hatred Targets Social Security
The Bush tactics of instilling fear in the American public and misrepresenting facts is continuing in his blatant attempt to destroy America’s retirement system. As has been clear for many years George W. Bush has had his sites on America’s Social Security system. His wanton greed, on behalf of his Corporate directors, makes him flush with anger at the thought that poor and medium income people should have access to the wealth they have helped build in this country. The Bush Social Security plan to rip off a program designed to ensure the retirement of America’s working people has to be among the lowest of his schemes.

As Bush, in his usual vague way, scrawls out a plan that will decrease payments to existing Social Security recipients and drive America over $2 trillion deeper into debt to set up a massive bureaucracy to handle his torpedo aimed at Social Security, he misrepresents the facts and attempts to instill fear in the American Public. If history is any indicator George W. Bush has already selected the Wall Street corporations who will be allowed to siphon off billions of retirement dollars in his ever-expanding program to rip off the American worker and taxpayer.

The poorly thought out retirement plan, or crafty scam to give America’s retirement money to large corporations, will decrease payments to all seniors, even those who do not choose to invest in privatized accounts. According to the Congressional Budget Office, "benefits for the 1980s birth cohort would be...30 percent lower...and benefits for the 2000s cohort would be...45 percent lower." [CBO, "Long-term Analysis of Plan 2 of the President's Commission to Strengthen Social Security," 7/21/2004, pp. 11 and Figure 2A]

The Bush fear-mongering lie that claims Social Security is in Crisis is just that, a lie. Why do you think someone would lie about facts? Because he and his Corporate are such experts, throughout the last election they convinced the American public that lies were the truth and the truth was lies.

The present Social Security system will be able to pay full benefits until 2042 according to the Social Security trustees report (or until 2052 if accept the projections made by the Congressional Budget Office). After that date the system will be able to pay between 75 and 80 of originally projected benefits. This is a far cry from either bankruptcy or crisis but unless Bush can instill enough fear in the American public he will not be able to destroy the system that has served American retirees since 1935.

Perhaps Bush should look at his support of shipping tens of thousands of jobs to countries that exploit workers and the environment and how that decreases payments into the Social Security system but as is the thinking of the Corporate Plunderers that tell him what to do anything is legitimate especially if the president removes corporate tax responsibilities or allows this Un-American criminals to hide their wealth in offshore accounts.

Removing significant monies from the present But they have many other concerns, too. The leading proposal calling for partial privatization also calls for a change in how initial benefits are determined.

The White House admits that personal accounts won't make Social Security solvent. The main goal of the personal-account approach is to lower future retirees' benefits by altering the blueprint for determining starting benefits. The monies taken out of the Social Security system to fund these personal accounts would create a further deficit when it comes to paying current retirees.

The Bush administration is already diverting Social Security funds by forcing Social Security officials to become involved in Bush’s attempt to scuttle Social Security. So this administration really takes the cake as they are using your retirement funds to push the program to phase out social security.