I have started a new blog that deals primarily with political issues that affect our democracy. Please join me at ARE WE STILL A DEMOCRACY.

Monday, February 07, 2005

Bush Explains Social Security (Warning! This is not a joke)

President Discusses Strengthening Social Security in Florida
Tampa Convention Center
Tampa, Florida

4:07 P.M. EST
...THE PRESIDENT: Because the -- all which is on the table begins to address the big cost drivers. For example, how benefits are calculate, for example, is on the table; whether or not benefits rise based upon wage increases or price increases. There's a series of parts of the formula that are being considered. And when you couple that, those different cost drivers, affecting those -- changing those with personal accounts, the idea is to get what has been promised more likely to be -- or closer delivered to what has been promised.

Does that make any sense to you? It's kind of muddled. Look, there's a series of things that cause the -- like, for example, benefits are calculated based upon the increase of wages, as opposed to the increase of prices. Some have suggested that we calculate -- the benefits will rise based upon inflation, as opposed to wage increases. There is a reform that would help solve the red if that were put into effect. In other words, how fast benefits grow, how fast the promised benefits grow, if those -- if that growth is affected, it will help on the red.


The Nightmare Continues.
Link

0 Comments:

Post a Comment

<< Home


Name: d.
Home: Atascadero, CA
Currently Reading:
See my complete profile

Powered by Blogger