Skip to comments.IS THAT SO, MR. MINORITY WHIP?
Posted on 03/23/2005 2:24:17 PM PST by lward99
IS THAT SO, MR. MINORITY WHIP?
"The government isn't obligated to keep paying what it currently pays out."
Democrats Have Half a Game Plan on Social Security
House Democratic Whip Steny Hoyer dropped by our offices yesterday, so we put him in the hot seat on Social Security. It was fun, if heated at times, and what we learned is just how much this issue is still turning on politics, not the merits of reform. He also told us the current Democratic thinking behind the party's decision not to offer a plan of its own. To do so now, he said, would be political suicide because the first plan on the table will be picked apart. The president would love for Democrats to change the focus in the debate, he told us, because he's "tanking on this."
While Mr. Hoyer is clearly pleased by the White House's difficulties, he also admits that reform is needed. "Social Security has a cash flow problem" and sometime around 2042 or 2052 it will only be able to pay 75% of its obligations. Until then the system will remain solvent, he added, because it can redeem the government IOUs that make up Social Security's "trust fund." The U.S. government always pays its debts, he said, and if it didn't the financial system would collapse.
He's right on that point, of course, but he wouldn't say where the government would get the money to make good on the trust fund IOUs. Little noted in the current debate, the trust fund will continue to swell until 2018 -- reaching a whopping $7 trillion. But, of course, these "retirement savings" will actually have disappeared long ago to fund other federal spending. But Mr. Hoyer insists the problem isn't as large as it seems because repealing the Bush tax cuts for upper-income households would raise $1.4 trillion.
Mr. Hoyer said Democrats will offer their own plan when the time is right, and that the model for compromise will be the deal Ronald Reagan struck in 1983 to raise the retirement age. He further hinted at benefit cuts by noting that the government isn't obligated to keep paying what it currently pays out. Dropping the Democratic talking points for a few minutes, he also suggested that Social Security should have the "ability to invest" in the stock market. And he declared: "I am for private accounts," though "as an add-on" to Social Security. We asked: Would he support Republican Congressman Clay Shaw's plan to save Social Security by using the government's general revenue to create "add on" accounts of up to 4% of wages, up to a limit of $1,000 per year? He dodged the question.
This is a softball right down the middle.
That's what they said about his campaign in 2000, the campaign in 2004, Afghanistan, Iraq, tax cuts etc. He's tanking on everything. Keep whistling past the graveyard all you libs. He's really tanking!! LOL!!!!!!!!!1
Once again proving Democrats are not for what is for the good of the nation , but what is good for the Democratic party. Hoyer admits that SS is in trouble he admits it needs fixing he admits Pres, Bush's plan is good he just wont admit that the Democrats are holding out for political reasons.
How many times did we have to hear REPUBLICANS WANT TO CUT BENEFITS...
LETS SHOVE THIS DOWN THEIR THROAT!
I hope that is ON TAPE, or else we may not be able to make it stick...
It wont go anywhere, You see there are only 6 replies and thats here in Free Republic and its published in some dinky news source I never heard of/ Yes : we should shove it down their throats, but it wont happen Hoyer will get away clean like he always does.
A blogger...with a defeatist attitude, claiming that nothing will happen without traditional media taking a leading role.
Wow, what was his name again, you know the guy that was on CBS, hmmm Dan something or other.
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