3.05.2005

Watch It Wiggle

And...we're back. Not my hard drive—that's still an open question—but Bush. Back to the stump. Except that his message has, uh, changed. You might even say he's flip-flopped. Last time I looked, he was pushing for carved-out private Social Security accounts. About a third of a person's payroll taxes would be diverted into such an account. This would somehow "save" a system "in crisis" that will be "broke" in 2042—three out-and-out lies. Well, no longer:
This is a retirement account we're talking about. But it's your money, and the interest off that money goes to supplement the Social Security check that you're going to get from the federal government. See, personal accounts is an add-on to that which the government is going to pay you. It doesn't replace the Social Security system. It is a part of making -- getting a better rate of return, though, so -- to come closer to the promises made. That's important to know.
I'm not sure what he's proposing here, but it sure as hell ain't what he was proposing before. (And don't we already have IRAs?) If you suspect something funny's going on, read this.

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