Keyword: personalaccounts

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  • Personal Accounts Are No Cure-All (How conservatives should think about Social Security reform)

    08/31/2010 6:52:31 AM PDT · by SeekAndFind · 34 replies · 1+ views
    National Review ^ | 08/31/2010 | Andrew Biggs
    I don’t usually spend much time disagreeing with people I mostly agree with, but a column in National Review by the Cato Institute’s Michael Tanner — my old boss and an all-around great guy — presents a chance to talk about why Social Security reform has proved to be such a difficult task for those who believe in free markets and individual choice. Here’s where I agree with Mike: “Given their large lead in current polls, it is perhaps understandable that Republicans don’t want to risk offending voters, particularly seniors, by wading back into the Social Security thicket. But they...
  • If nothing else, Fred Thompson is unconventional in his campaign

    11/27/2007 12:26:29 AM PST · by 2ndDivisionVet · 38 replies · 211+ views
    The Newport News Daily Press ^ | November 27, 2007 | Peter Brown, Asst. Director of the Quinnipiac University Polling Institute
    Fred Thompson's presidential campaign has been unorthodox since Day 1, and his decision to grab the "third rail" of American politics with both hands is a clear indication that he really is a different kind of candidate. Since agreeing to run, after a mild draft effort by conservatives looking to fill the void in the race for a candidate who shared their views and values, Thompson has pursued what can only be considered a nontraditional path. He has eschewed the traditional 24/7 campaign run by his competitors and expected by the Washington-based mainstream news media, which has labeled him poorly...
  • 21st-Century Reaganism (IBD endorsing Fred?)

    11/26/2007 7:40:35 PM PST · by 2ndDivisionVet · 70 replies · 990+ views
    Investors Business Daily ^ | November 26, 2007
    Presidential Race: The war for the soul of the Republican Party was won in 1980 by Ronald Reagan. Presidential candidates who want to re-wage the conflict in 2008 will only weaken the GOP against the Democrats' nominee. In the aftermath of Vietnam, Watergate and a Jimmy Carter presidency that rendered America an economic and foreign policy basket case, Republicans discovered a tried-and-true recipe for electoral success. They would stand for three sets of principles: • Lowering high taxes and stemming the growth of government in order to revive the private economy, lower inflation and interest rates, and generate jobs. •...
  • Toughest issue facing the nation

    11/19/2007 12:48:14 AM PST · by 2ndDivisionVet · 38 replies · 154+ views
    The San Francisco Chronicle ^ | November 19, 2007 | Ruben Navarrette Jr.
    It's one of the toughest and most divisive issues facing the American people. And how we respond will have a profound impact on future generations. Yet many elected officials refuse to even talk about it. President Bush proposed a plan to deal with the issue but couldn't even get members of his own party to go along. Congress blew its shot at reform in a flurry of distortions, sound bites and fear-mongering. And most of the presidential candidates won't go anywhere near the subject, perhaps sensing that it could cost them votes. The issue, of course, is Social Security reform....
  • Campaign watch: Socialist Security

    11/16/2007 12:26:01 PM PST · by 2ndDivisionVet · 2 replies · 371+ views
    The Patriot Post ^ | November 16, 2007 | Andy W. Rogers
    Lately, Democrats have taken to showcasing the hallmark courage overflowing their party’s ranks. For instance, Senator Clinton has boldly unveiled her plan to fix the looming train wreck that is Social Security—namely, to dodge unveiling a plan to fix Social Security. Who knew? One-upping this bawdy exhibition of true grit, Senator Obama, presented his own daring strategy. His plan? “Tax the rich!” Brilliant! Of course, by “rich” he means you, through raising the payroll tax cap to get at even more of your income. How “innovative.” An added bonus: deepening the eventual crisis by reducing tax receipts, but that’s a...
  • Social Security's future: Brighter than you think (Fred Thompson plan praised)

    11/16/2007 10:47:51 AM PST · by 2ndDivisionVet · 31 replies · 176+ views
    The Berkeley Beacon ^ | November 15, 2007 | Christopher Girard
    The phrase has long since entered the political lexicon, but it was former House Speaker and Massachusetts Representative Tip O'Neill who first christened Social Security the "third rail of American politics." The reasoning behind his snide dubbing is twofold: the high political mortality rate of those who suggest change to the program, and avoidance of the issue by even Washington's most forthcoming public officials. During the Oct. 9 GOP debate, presidential candidate Fred Thompson threw conventional wisdom to the wind and grabbed the rail. Hard. Thompson called Social Security's current trajectory "unsustainable" and proposed reducing the benefits of recipients to...
  • Entitled to specific answers (Social Security)

    11/13/2007 11:58:53 PM PST · by 2ndDivisionVet · 14 replies · 355+ views
    The best specific Social Security reform proposal by a 2008 presidential candidate comes from Republican Fred Thompson — by default. That's because the plan the former Tennessee senator released last week is the only specific Social Security proposal from any of the White House hopefuls. While the other candidates apparently are wary about going beyond generalities — and some not even that far — on this thorny issue, the next Oval Office occupant won't be able to responsibly duck the tough choices required to save Social Security. President Bush repeatedly tried — and failed — to implement such reform through...
  • They Said It: Thompson Social Security Plan Applauded as 'Courageous,' 'Honest,' and 'Substantive'

    11/11/2007 8:42:34 PM PST · by 2ndDivisionVet · 56 replies · 121+ views
    Earned Media ^ | November 11, 2007 | Jeff Sadosky
    Courage & Honesty Republican presidential contender Fred Thompson's plan to save Social Security and protect seniors, which he introduced Friday afternoon in a Washington, D.C., hotel, differs starkly from standard election year pablum on the subject in one key way: He's actually treating voters like adults. (ABC, 11/9) seeking to show he is willing to take on tough issues if elected in November 2008, telling a news conference in Washington he was the only candidate to offer an extensive Social Security plan. (Reuters, 11/10) "You certainly have to admire his courage for putting this out," said Alan Viard with...
  • Presidential Candidate Fred Thompson Pushes For Personal Accounts For Retirees

    11/11/2007 3:34:30 AM PST · by 2ndDivisionVet · 18 replies · 115+ views
    All Headline News ^ | November 9, 2007 | Danilo Gagelonia
    Washington (AHN) - Republican presidential candidate Fred Thompson proposed Friday to reduce promised retirement benefits and to create a system of voluntary personal retirement accounts that can also help to finance the Social Security program. Under the proposal, retirement benefits for workers who are now 58 and older will not be affected. Employees who are now younger will get smaller monthly Social Security pensions because their benefits will be calculated based on the yearly increase in prices. Meanwhile, the personal retirement accounts will be funded with workers' contributions to be matched by funds from the Social Security trust fund. Workers...
  • What Is Their Plan for Social Security?

    07/28/2006 2:27:39 PM PDT · by Tolerance Sucks Rocks · 36 replies · 780+ views
    Cato Institute ^ | July 28, 2006 | Michael D. Tanner
    Michael Tanner is director of health and welfare studies at the Cato Institute and editor of Social Security and Its Discontents (2005). At a press conference with fellow Democrats at the Statehouse on Monday night, Senator Robert Menendez attacked his Republican opponent, Thomas Kean, Jr., for secretly supporting President Bush's proposal for "privatizing" Social Security. Kean denied the charge and responded with a few of his own, but in swapping barbs, neither candidate gave us the slightest clue what they would do to solve the program's looming problems. The facts are simple: Social Security will begin running a deficit in...
  • Glimmer of Hope

    07/27/2006 7:22:12 AM PDT · by JSedreporter · 5 replies · 358+ views
    Accuracy in Academia ^ | July 26, 2006 | Julia A. Seymour
    This past Wednesday, when I attended Students for Saving Social Security’s event on Social Security reform with roughly 300 other young people, I was overcome by an unusual Washington, D.C. emotion—hope. Having only lived in our nation’s capital for about a year, I have not yet succumbed to the total disillusionment and cynicism of many people, but it has certainly affected my optimistic tendencies. But in contradiction to my sometimes-attitude that nothing in this city ever gets done, let alone gets done right, I found myself believing something could be changed. Social Security was considered for decades to be the...
  • The Oracle of Delphi: GM's Pension Disaster And What It Means for Social Security

    10/23/2005 4:27:25 PM PDT · by rdmartinjd · 44 replies · 3,142+ views ^ | 10/24/2005 | Rod D. Martin, J.D.
    Delphi's bankruptcy filing -- a result of mounting, unsustainable pension costs incurred decades ago -- was grim news for its creditors, its stockholders, and its tens of thousands of workers. But it was also a warning of things to come: for the entire American auto industry, and for Social Security as well. Delphi was a GM division until its spinoff in 1999. As part of that deal, America's largest auto maker granted over 4,000 Delphi employees the right to return to GM. Now, those workers are taking General Motors up on its generous promise. GM will take responsibility for their...
  • The Proof's in the Pension

    04/26/2005 7:37:44 AM PDT · by T-Bird45 · 7 replies · 600+ views
    NY Times ^ | 4/26/2005 | John Tierney
    SANTIAGO, Chile I made a pilgrimage to Santiago seeking to resolve the Social Security debate with a simple question: What would Pablo Serra do? I wanted to compare our pensions to see the results of an accidental experiment that began in 1961, when he and I were friends in second grade at a school in Chile. He remained in Chile and became the test subject; I returned to America as the control group. By the time we finished college, both of our countries' pension systems were going broke. Chile responded by pioneering a system of private accounts in 1981. America...
  • Debate Over Private Accounts Resumes (social security)

    08/13/2005 12:22:23 PM PDT · by FairOpinion · 2 replies · 287+ views
    WP ^ | Aug. 13, 2005 | MARY DALRYMPLE
    Lawmakers and interest groups are gearing up for a fight this fall over Social Security, each side hoping to use the retirement and disability program's 70th birthday to build momentum. An electronic card from the opposite side of the debate, circulated by the Coalition for the Modernization and Protection of America's Social Security, or CoMPASS, shows a Social Security birthday cake sliced and served. Without major reform, it warns, children will be left with the crumbs.
  • GOP Plans August Campaign on Personal Savings Accounts

    08/01/2005 7:03:04 AM PDT · by Tumbleweed_Connection · 1 replies · 302+ views
    FOX ^ | 8/1/05 | Major Garrett
    ....The cost over 10 years would be $75 billion. Democrats say the money will come from tax increases on the wealthy. "Well, we certainly in the Ways and Means Committee have a very attractive group of high income people that are getting a tax cut that they didn't ask for and the budget doesn't need, and we will be able to pay for everything that we have in the plan," said Rep. Charles Rangel, D-N.Y., the ranking member on the House Ways and Means Committee. Democrats say their plan does nothing to alter Social Security financing or benefits. That means,...
  • Social Security Insolvency Accelerating, Study Says. Crisis is much closer than previously believed

    06/25/2005 12:31:10 AM PDT · by FairOpinion · 48 replies · 1,089+ views
    Budget and Tax News via The Heartland Institute ^ | July 1, 2005 | Thomas R. Saving
    The recent annual report issued by the Social Security Board of Trustees demonstrates with undeniable clarity that Social Security faces a looming financial crisis. Worse still, the report shows Social Security's lurch toward insolvency has accelerated. In just a little more than a decade, Social Security will begin to run a deficit, the study shows. Deficits will continue and amplify every year well beyond the turn of the next century. Despite early protestations from many on Capitol Hill that "there is no crisis," few serious observers of the current state of Social Security hold out hope the system can survive...
  • DeMint Makes Democrats Nervous - (Harry Reid deliberately misrepresenting DeMint's plan)

    06/24/2005 4:39:27 PM PDT · by CHARLITE · 17 replies · 740+ views
    WASHINGTON -- In recent weeks I had become increasingly glum about the prospects for Social Security reform this year (although I think in the long run the pro-reform movement will prevail). Thus, I couldn't get too excited by the release of Senator Jim DeMint's new plan. But I have to reconsider. The basics of DeMint's plan are that it only uses the Social Security surplus to create personal accounts and it initially only puts treasury bonds in those accounts. In early 2008 an advisory board similar to the one that manages the Thrift Savings Plan will start adding other investment...
  • CNN’s Henry Misrepresents Personal Accounts Polls

    06/22/2005 7:15:21 PM PDT · by CorbyCard · 174+ views
    Free Market Project ^ | 6/22/2005 | Dan Gainor
    Claims public ‘doesn’t support private accounts,’ but facts show otherwise. Even as President Bush endorsed a new Social Security plan that didn’t focus on personal accounts, poor coverage of the reform issue continued. This time, it was CNN’s Ed Henry claiming that people don’t support personal accounts even though that isn’t the case. According to Henry, on the June 21, 2005, “Inside Politics,” “We see polls across the board saying that the public by and large doesn’t support private accounts.” Henry didn’t cite any of the polls showing this overwhelming opposition. Henry didn’t even bother to quote from the skewed...
  • House GOP Crafts Social Security Bill -OFFENSE

    06/22/2005 10:53:02 AM PDT · by Tumbleweed_Connection · 12 replies · 391+ views
    AP ^ | 6/22/05 | David Espo
    Key House Republicans crafted Social Security legislation Wednesday that shuns the painful measures needed to assure long-term solvency and omits President Bush's call for personal accounts financed with payroll taxes. Instead, the measure showcases a promise, designed to reassure seniors, that Social Security surplus funds will be used only to create individual accounts that differ sharply from Bush's approach. Despite the differences from Bush's proposals, Democrats quickly attacked the legislation, which is emerging in different forms in the House and Senate. Sen. Max Baucus (news, bio, voting record), D-Mont., called it "a smaller version of a bad idea. That bad...
  • Republicans Offer Social Security Bill Without Bush-Style Private Investment Accounts

    06/22/2005 12:30:57 AM PDT · by Crackingham · 18 replies · 621+ views
    AP ^ | 6/22/05 | David Espo
    With the acquiescence of their leaders, key House Republicans are drafting Social Security legislation stripped of President Bush's proposed personal accounts financed with payroll taxes and lacking provisions aimed at assuring long-term solvency. Instead, according to officials familiar with the details, the measure showcases a promise, designed to reassure seniors, that Social Security surplus funds will be held inviolate, available only to create individual accounts that differ sharply from Bush's approach. Under current law, any Social Security payroll tax money not used to finance monthly benefits is in effect lent by Social Security to the Treasury, which uses it to...
  • Dems: Private Accounts Would Hurt Farmers

    06/18/2005 12:49:55 PM PDT · by FairOpinion · 39 replies · 819+ views
    AP/Yahoo News ^ | June 18, 2005 | EMERY P. DALESIO
    RALEIGH, N.C. - President Bush's proposal to allow taxpayers to invest part of their Social Security taxes would have an amplified, negative effect on farm families who depend on the government program in retirement, Rep. Bob Etheridge (news, bio, voting record), D-N.C., said Saturday. "Farm families have tight budgets, and most don't have access to employer retirement accounts such as 401(k) plans. In fact, three out of four farmers fund their own retirement. They depend on Social Security when the crop yield is low or the weather is bad," Etheridge, a member of the House Agriculture Committee and a part-time...
  • Senators Consider Boosting Retirement Age

    06/15/2005 5:34:09 AM PDT · by Momaw Nadon · 90 replies · 1,378+ views
    AP via Yahoo! ^ | Wednesday, June 15, 2005 | DAVID ESPO
    WASHINGTON - Work till you're 69 before getting full Social Security benefits? That's one possibility — for Americans who retire two decades or more into the future — as Republicans on a key Senate committee review suggestions for improving the program's solvency. No decisions have been made yet, and it could be fall before the politically volatile Social Security issue reaches the floor of either the House or Senate, if then. At the same time, an increase in the retirement age is one of the suggestions that Sen. Charles Grassley (news, bio, voting record), chairman of the Senate Finance Committee,...
  • Bush Denounces Democrats as Focusing on Obstruction

    06/14/2005 9:57:35 PM PDT · by FairOpinion · 7 replies · 605+ views
    NYT ^ | June 15, 2005 | RICHARD W. STEVENSON
    President Bush spent Tuesday replenishing his party's coffers and, in the face of resistance to his Social Security plan and much of the rest of his second-term agenda, struck an aggressive new tone by accusing Democrats of standing for nothing but obstructionism. "I'm going to continue to call upon the United States Congress, members of both political parties, to stand up, to do what's right for a young generation of Americans coming up, to fix this Social Security system once and for all," Mr. Bush told a gathering of the Future Farmers of America on the campus of Pennsylvania State...
  • GOP Senators May Make 69 Retirement Age (eligibility for Social Security)

    06/14/2005 4:50:36 PM PDT · by QQQQQ · 105 replies · 2,034+ views
    Washington Post ^ | June 14, 2005 | DAVID ESPO
    <p>Key Senate Republicans are considering gradually raising the Social Security retirement age as high as 69 over several years as they struggle to jump-start legislation that President Bush has placed atop his second-term agenda, officials said Tuesday.</p> <p>Raising the retirement age is unpopular, according to some surveys.</p>
  • In Overhaul of Social Security, Age Is the Elephant in the Room

    06/11/2005 10:57:55 AM PDT · by FairOpinion · 42 replies · 817+ views
    NYT ^ | June 11, 2005 | ROBIN TONER and DAVID E. ROSENBAUM
    Americans turning 65 this year can expect to live, on average, until they are 83, four and a half years longer than the typical 65-year-old could expect in 1940. And government actuaries predict that American life spans will just keep growing. This demographic trend - by 2040, the average 65-year-old will live to about 85 - has major financial implications for Social Security and major political implications for the lawmakers now trying to overhaul the system. Policy experts across the political spectrum, who agree on little else, have told Congress in recent weeks that any effort to improve Social Security's...
  • Lawmakers Inch Along in Tackling Social Security (Hatch: Personal Accounts Are Unlikely)

    06/09/2005 11:03:44 PM PDT · by nj26 · 5 replies · 324+ views
    NY Times ^ | 6/10/05 | DAVID E. ROSENBAUM
    Meeting in private for the 11th time this year on Social Security, Republican senators on the Finance Committee struggled on Thursday over ways to make the retirement system solvent, and the committee chairman said afterward that he hoped to forge a consensus among senators in his party next week on topics like raising the retirement age and cutting benefits. The chairman, Senator Charles E. Grassley, Republican of Iowa, said he wanted to wrap up work on the issue of solvency before turning to a harder matter - President Bush's proposal to allow workers to divert part of their Social Security...
  • GOP Leaders Weigh Raising Soc. Sec. Age

    06/09/2005 8:49:55 PM PDT · by CrawDaddyCA · 71 replies · 1,744+ views
    AP via Yahoo News ^ | June 9, 2005 | DAVID ESPO
    WASHINGTON - Key Senate Republicans privately reviewed suggestions Thursday for raising the Social Security retirement age while limiting future benefits for upper-wage earners, officials said, as they sought momentum for legislation atop President Bush's second-term domestic agenda. At the same time, the prospects for swift Senate action on the controversial measure appeared to dim during the day, the result of internal GOP disagreement as well as implacable Democratic opposition to Bush's call for personal accounts under Social Security. "I don't look for it until later on in the fall," said Sen. Trent Lott, R-Miss. Lott made his comments after he...
  • New Cato Poll (by Zogby) Shows Majority (of Likely Voters) Support Personal Accounts

    06/01/2005 9:29:49 PM PDT · by FairOpinion · 10 replies · 384+ views
    Cato Institute ^ | May 31, 2005 | Cato Institute
    Washington -- A majority of likely voters (52-40%) favor proposals to allow younger workers the choice to invest a portion of their Social Security taxes in personal accounts, according to a new poll conducted by Zogby International for the Cato Institute. Younger voters support the chance to invest by an enormous majority (66-23% among voters under 30). The poll also found that Americans believe that opponents of President Bush's Social Security reform proposals have an obligation to put forward an alternative plan to solve the financial crisis that is about to engulf the current system. By an overwhelming 70-22% margin,...
  • Classless warfare (SUPERB editorial on the Dems distortions)

    05/11/2005 10:52:11 PM PDT · by FairOpinion · 3 replies · 585+ views ^ | May 12, 2005 | Herman Cain
    The rhetoric of class warfare is as old as dirt. Even Pharaoh kept the slaves fighting among themselves to extend their captivity. But there is nothing classy about stirring people’s jealousy and envy, making people feel as if the world owes them something, or bashing people who take risks to create jobs and help drive our economy. It is classless exploitation to appeal to a person’s weakness of understanding instead of their strength of character. Not surprisingly, Democratic Party leaders were quick to attack President Bush’s most recent proposal to help restructure Social Security by labeling it a “benefit cut...
  • AFP Names Sen. John F. Kerry "Investor of the Week" (Urges allowing Personal Accounts for ALL)

    04/30/2005 10:59:36 PM PDT · by FairOpinion · 21 replies · 711+ views
    Americans For Prosperity (AFP) ^ | April 26, 2005 | News Release
    AFP Names Sen. John F. Kerry "Investor of the Week" Urges Lawmaker to Allow All Americans to Build Retirement Nest Eggs With Personal Accounts WASHINGTON -- As the U.S. Senate Finance Committee met today for a hearing about Social Security reform, the free-market grassroots group Americans for Prosperity named one of the committee's members, Sen. John F. Kerry, its inaugural "Investor of the Week" for his outstanding personal investment record and secure retirement future. The group also urged Sen. Kerry to back legislation creating personal accounts in Social Security, which would allow all Americans to build larger retirement nest eggs...
  • Social Security vs. Personal Accounts Calculator

    04/30/2005 4:39:05 AM PDT · by NavVet · 16 replies · 778+ views
    Heritage Foundation ^ | Heritage Foundation
    This calculator is intended to be an educational tool to help citizens better understand public policy issues associated with Social Security......
  • AARP Has Its Own Private Accounts

    04/29/2005 5:21:51 AM PDT · by NavVet · 60 replies · 1,294+ views
    NewsMax ^ | 4/28/05
    While AARP is busy bashing President Bush's plan for personal retirement accounts as unsafe, the organization is raking in millions of dollars from its own private stock and bond accounts.
  • A 'Progressive' Solution

    04/29/2005 7:56:25 AM PDT · by RKV · 3 replies · 253+ views
    Opinion Journal (WSJ) ^ | April 29, 2005 | ROBERT C. POZEN
    Ever since President Bush first floated the idea of personal retirement accounts as part of Social Security reform, fiscal hawks have been going berserk: "This will only increase future government borrowing when the federal deficit is already sky high!," they say. Well, they're wrong. There is a way to have personal retirement accounts, or PRAs, and actually decrease the government debt. If PRAs of modest size are combined with something called the "progressive indexing" of benefits, the government borrowing needed to finance Social Security would be dramatically reduced. What is progressive indexing and how does it work?
  • Biased Accounts - Networks Guarantee Liberal View of Social Security

    04/28/2005 12:15:22 PM PDT · by runnerdog · 2 replies · 418+ views
    Free Market Project ^ | April 27, 2005 | Amy Menefee
    Social Security has been the most debated domestic issue of George W. Bush’s second term. Baby boomers begin retiring as early as 2008, and the nation’s retirement system faces an income shortfall beginning as early as 2017, according to the Social Security Administration. President Bush has called for personal accounts that would restructure the system to combat this looming problem. Social Security coverage on the five major networks has been overwhelmingly against personal accounts – by a margin of 2 to 1. Four of the five gave more air time to the liberal position than to explaining economic realities.
  • Bush to Announce Social Security Plans

    04/28/2005 10:31:13 AM PDT · by West Coast Conservative · 24 replies · 572+ views - AP ^ | April 28, 2005 | JENNIFER LOVEN
    President Bush is ready to begin talking with Congress and the public about specific steps he supports to ensure the future of Social Security and will announce his ideas during a prime-time news conference Thursday. Bush was also using the formal question-and-answer session with reporters - his first in the evening in over a year - to talk about skyrocketing gas prices. The White House asked television networks to broadcast the news conference, scheduled for 8:30 p.m. EDT in the East Room of the White House. The focus of the president's planned 10- to 12-minute opening statement was to be...
  • Dems smell win, hold firm: no (personal / private) accounts (Social Security)

    04/27/2005 4:43:40 AM PDT · by FairOpinion · 52 replies · 926+ views
    Chicago Tribune ^ | April 27, 2005 | LYNN SWEET
    There they were, some 120 Democrats, House and Senate members, at a rally Tuesday to protest President Bush's plan for retirement investment accounts they say will jeopardize the long-term health of Social Security. Emboldened by polls showing that Bush's 60-day campaign for these accounts -- to be created with a small amount of money diverted from Social Security payroll taxes -- may have actually eroded backing for his plan, the Democrats have a sense that they may have prevailed. The Democrats are and have been displaying an iron wall of unity when it comes to opposing retirement investment accounts. Social...
  • GOP goes it alone on private accounts (Social security)

    04/27/2005 4:30:33 AM PDT · by FairOpinion · 5 replies · 303+ views
    SFC ^ | April 27, 2005 | Carolyn Lochhead
    Key Senate Finance Committee Republicans vowed Tuesday to forge ahead without Democrats on President Bush's idea to include private investment accounts in Social Security. Finance Committee Chairman Chuck Grassley, R-Iowa, outlined a process over the next two to three months that will force the high-powered Republicans on his panel to accept benefit cuts and tax increases necessary to make the giant retirement program permanently solvent, while including the private accounts that Bush and most of his party want but Democrats steadfastly oppose. Grassley admitted that even if he pushed a bill out of his committee on a party-line vote --...
  • Senator to Try New Strategy on Accounts for Retirees

    04/21/2005 10:46:14 PM PDT · by FairOpinion · 7 replies · 669+ views
    NYT ^ | April 22, 2005 | ROBIN TONER and RICHARD W. STEVENSON
    WASHINGTON, April 21 - The Senate Finance Committee chairman, Charles E. Grassley, said Thursday that he would try to produce a Social Security bill with the support of Republicans alone, in an effort to jump-start a legislative effort now stymied by solid Democratic opposition. Mr. Grassley, whose committee will play the lead role on Social Security, acknowledged that it was a risky strategy and that he would need to attract some Democratic support once the bill reached the full Senate, if not sooner. But he said, with some frustration, that he had been unable to get the Democrats on his...
  • Iraq War (Coalition) Vets & Family -- First-Hand Stories Wanted

    04/15/2005 8:58:01 PM PDT · by wayne_shrugged · 1 replies · 205+ views
    Self | 04/15/05 | wayne_shrugged
    I'm putting together personal stories from US & Coalition vets about their personal stories and observations about Iraq and Afghanistan. I want to put together enough to create a book or publication. Please contact me via personal FReep mail. Thanks. Wayne_Shrugged
  • SOCIAL SECURITY > HR 4851 The Social Personal Savings Guarantee and Prosperity Act

    03/15/2005 4:05:28 PM PST · by AWestCoaster · 15 replies · 332+ views
    Website ^ | Congressman Paul Ryan (R) Wisconsin
    Discussed on CNBC with Congressman Ryan. This bill is highly rated by the Chief Actuary of Social Security with his opinion shown in the link. This bill empowers workers with the freedom to choose a large personal account option for Social Security, with no benefit cuts or tax increases. Summary of the Bill: · Workers will be able to shift to their personal accounts 10 percentage points of the current 12.4% Social Security payroll tax on the first $10,000 of wages each year, and 5 percentage points on all taxable wages above that. This creates a progressive structure with an...
  • Tactical shift weighed for Social Security. Senate GOP may drop portion of Bush plan

    04/09/2005 8:34:40 AM PDT · by FairOpinion · 52 replies · 772+ views
    Boston Globe ^ | April 9, 2005 | David Espo
    Senate Republicans are considering temporarily sidetracking President Bush's plan for personal investment accounts under Social Security, hoping Democrats will then join compromise talks on legislation to restore the program's solvency. Several GOP officials said Republican leaders discussed the possibility privately this week, recognizing that unified Democratic opposition to the accounts has stalled efforts to advance Bush's top domestic priority. At the same time, these officials said GOP leaders were wary of leaving the impression that they intend to abandon the president's proposal to allow younger workers to invest a portion of their payroll taxes independently. Any shift in tactics has...
  • Why Liberals (and Democrats) should support Social Security reform

    04/03/2005 7:43:09 AM PDT · by Rossputin · 6 replies · 431+ views ^ | Ross Kaminsky
    Why Liberals (and Democrats) Should Support Social Security Reform There are compelling reasons for liberals and Democrats to support serious reform of the system, but they are often mixed in with technical discussion which does not appeal to people whose policy choices are not primarily based on efficiency or economics. So, for anyone who opposes reform (or anyone who speaks to someone who does) here is a discussion of some of the important arguments in as plain language as I can muster which might make cause liberals and Democrats to consider the many benefits of reforming the Social Security System....

    03/23/2005 2:24:17 PM PST · by lward99 · 8 replies · 769+ views ^ | 3/23/2005 |
    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...
  • McCain Trumpets Bush Social Security Plan

    03/22/2005 10:36:26 AM PST · by Indy Pendance · 1 replies · 182+ views
    AP ^ | 3-22-05 | JENNIFER LOVEN
    ALBUQUERQUE, N.M. (AP) -- President Bush and Sen. John McCain put on another showing Tuesday of their good-cop, bad-cop routine on Social Security, trying to prod Democrats into cooperating with rather than opposing the president's drive to create private accounts within the system. Bush emphasized the positive, continuing to assure current and near-retirees their benefits would not change under his plan and promising that credit would be duly shared if Washington politicians can come together to fix Social Security's long-term fiscal ills. "Bring your ideas forward, please," the president told a mostly darkened auditorium here. "If we're going to solve...
  • McCain Trumpets Bush Social Security Plan

    03/21/2005 11:59:29 PM PST · by West Coast Conservative · 10 replies · 593+ views
    AP ^ | March 22, 2005 | JENNIFER LOVEN
    There's another showing Tuesday of the good-cop, bad-cop routine featuring President Bush and Sen. John McCain, Bush's one-time presidential rival who has become a big booster of the president's Social Security plan. The Arizona Republican accompanied Bush on Monday to the senator's home state and Colorado to try to help sell the public and Congress on the president's proposal for a major Social Security overhaul. Bush again focused on calming seniors' fears that his plan would mean their checks would stop coming or be cut and tried to convince them that adding private accounts to Social Security would be in...
  • Misconceptions Hurt Social Security Reform in Polls

    03/16/2005 5:51:35 AM PST · by jimbergin · 9 replies · 315+ views
    Misconceptions Hurt Social Security Reform in Polls Survey of 2,000 Adults March 10-13, 2005 Does Bush Plan Require Younger Workers to Set Up Personal Accounts? Yes 25% No 47% March 15, 2005--Two major misconceptions about Social Security Reform are costing Personal Retirement Accounts a net 32 percentage points in public opinion polls. Among those over 65, the impact is even greater. Surveys conducted by Rasmussen Reports in 2005 show that between 36% and 48% of senior citizens believe their own retirement benefits will be cut by President Bush's approach to Social Security. This concern exists despite the fact that...
  • Just 28% Favor Leaving Social Security Unchanged

    03/15/2005 11:55:40 PM PST · by West Coast Conservative · 17 replies · 638+ views
    Rasmussen Reports ^ | March 14, 2005
    Veteran Democratic operatives James Carville and Stan Greenberg have publicly wondered why President Bush and the Republican Party have not "crashed and burned" due to the Social Security debate. A Rasmussen Reports survey helps answer that question and suggests that Democrats may be in a weaker position strategically than a top-line look at the polls would indicate. Some Congressional Democrats have suggested that no change of any kind should be made in the nation's Social Security program. Just 28% of Americans favor that approach. That's ten-points below the level of initial support for President Bush's call for personal retirement accounts....
  • National Review: President Bush Giving Up On Personal Accounts? (Mine)

    03/09/2005 6:41:52 PM PST · by Zack Nguyen · 24 replies · 683+ views
    National Review - Beltway Buzz ^ | March 8, 2005 | Eric Pfeiffer
    A GOP source close to the Social Security debate tells me, “the battle for personal accounts is over.” “Even though the president will keep pushing it and no one is coming out to say it publicly, most Republicans are already resigned to believe that privatization won’t happen.” “The president is going to take the compromise of add-on accounts, reduced benefits and a payroll tax cap increase and claim victory. Fiscal conservatives and party hard-liners are not going to be happy with this bill at all.” The source believes there is still “some hope” that the House will pass a bill...
  • Personal Accounts Tank in Polls, GOP Says (social security reform)

    03/08/2005 8:39:25 PM PST · by FairOpinion · 114 replies · 2,001+ views
    Yahoo News/AP ^ | March 8, 2005 | DAVID ESPO
    WASHINGTON - The heart of President Bush (news - web sites)'s plan for Social Security (news - web sites), allowing younger workers to create personal accounts in exchange for a lower guaranteed government benefit, is among the least popular elements with the public, Republican pollsters told House GOP leaders Tuesday. The pollsters also stressed the political stakes involved in pursuing Bush's plan to overhaul the Depression-era program, according to a memo circulated at a session in the Capitol. Older voters consider a candidate's views on Social Security to be "as important, or in some cases, more important than issues like...
  • WP: Social Security Stance Risky, Democrats Told

    03/08/2005 1:53:11 AM PST · by West Coast Conservative · 16 replies · 949+ views
    Washington Post ^ | Tuesday, March 8, 2005 | Dan Balz
    The opening round of the Social Security debate has played out just the way Democrats had hoped, with President Bush on the defensive, Republicans in Congress divided and Democrats united in their opposition to the centerpiece of Bush's plan, voluntary personal accounts. But at a time when many Democrats are congratulating one another, others are beginning to worry that their strategy of rigid opposition has not begun to pay any political dividends and that Bush could yet outflank them before this fight is over. The party's situation was posed most provocatively by two veteran Democratic strategists, Stan Greenberg and James...