Democrats Applaud Not Acting On Social Security

Posted on February 1, 2006

temporary hotlink I promise
One of the most revealing things that happened at the State of the Union last night was the Democrats applauding the fact that they did nothing to fix Social Security. As a matter of fact, not only did they do nothing, they fought it tooth and nail. Apparantly they were applauding what they are best at, obstructionism.

PRESIDENT BUSH: We must also confront the larger challenge of mandatory spending, or entitlements. This year, the first of about 78 million baby boomers turn 60, including two of my Dad’s favorite people — me and President Clinton. (Laughter.) This milestone is more than a personal crisis — (laughter) — it is a national challenge. The retirement of the baby boom generation will put unprecedented strains on the federal government. By 2030, spending for Social Security, Medicare and Medicaid alone will be almost 60 percent of the entire federal budget. And that will present future Congresses with impossible choices — staggering tax increases, immense deficits, or deep cuts in every category of spending. Congress did not act last year on my proposal to save Social Security — (applause) — yet the rising cost of entitlements is a problem that is not going away. (Applause.) And every year we fail to act, the situation gets worse.

Tom Elia at The New Editor writes:

Think about that for a moment: Social Security not only has long term liquidity problems, but it is a program that pays the average recipient about $1,000 per month, where 20-25% of recipients receive its benefits as their sole source of income, and where another 40-45% of recipients have their benefits count for at least half of their retirement income.

Of course, the program’s benefits come from a tax rate of about 12.5%, itself the result of about 15 increases since the program’s inception.

However, we know how to run the program more efficiently. Just ask retired state, federal, and local government workers, whose retirement plans account for almost 10% of the total capitalization of both the stock and bond markets.

And the Democrats, who themselves offered no alternative to Bush’s plan, cheered the inaction on reform?

Absolutely remarkable. ‘Party of the People’ indeed. As they say in Chicago, “Datz rite. Punch 10*.”

If the Republicans were smart, they should save the tape of that moment, and use it in commercials for the next 50 years.

Expose the Left has the video.
Others: Wizbang

Share on Facebook

Tweet This Post

» Filed Under News

Trackback URL

Comments

3 Responses to “Democrats Applaud Not Acting On Social Security”

Peter Bella on February 2nd, 2006 12:40 pm

Before anyone even thinks about SSS reform, we need a very simple law passed. It would save the system from the danger of going bankrupt and from its biggest enemy; the US Government.

The law would prohibit the legislature and executive branchs from “borrowing” from the SSS suprlus to fund government programs and would mandate a schedule for paying back all monies “borrowed” in the past. Social Security was drained due to this so called borrowing over the past forty years.
DL on February 4th, 2006 7:58 am

Wasn’t it referred to as the “lockbox?” the trouble with liberal locks is that they are always kept inside the box.
DL on February 4th, 2006 8:03 am

Dems are like teenagers having a beer and driving 100 mph – they’ll cheer the crash as it happens -as long as they’re in the drivers seat. the culture of death mentality -take down the country the defense system – the family – the economy – 40 million unborn -kill everything.
It’s diabolically self-destructive-nothing else can answer their behavior. Evil does as evil is.