Bush Hawks Financier Pozen's Plan as Social Security Compromise

[NVMojo]

Great, another turncoat Dem ...

March 23 (Bloomberg) -- President George W. Bush has a new favorite Democrat: Robert Pozen, a Boston investment executive whose plan for shoring up Social Security may provide a small opening in the political impasse on the issue.

Bush has cited Pozen's plan for bolstering Social Security's finances three times in the past week as a solution to Social Security's anticipated $3.7 trillion funding shortfall over the next 75 years. The plan also has drawn praise from some opponents of Bush's proposal to create private accounts, such as AARP, the nation's largest senior-citizens' lobby. AARP said that while Pozen's proposal may not be a solution, it marks progress in the deadlocked debate.

Pozen, 58, is chairman of MFS Investment Management, a fund manager with about $145 billion in assets, and served on Bush's 2001 Social Security commission. He supports creating private accounts and has proposed a plan he calls progressive indexing that imposes benefit cuts on the wealthy while maintaining the current structure for the poor. The plan, he says, would forestall Social Security's insolvency without raising taxes or decreasing benefits for the most needy.

``These things are kind of moving away from some of the harshness of the president's initial proposal,'' said John Rother, AARP's policy director. ``It's unfreezing the debate from a very polarized situation to kind of an effort to run a few ideas up the flagpole.''

Democrats in Washington, almost without exception, have lined up against Bush's proposal to allow workers under the age of 55 to divert up to one-third of their 12.4 percent Social Security payroll tax to accounts that would be invested in stocks and bonds.

more....

http://www.bloomberg.com/apps/news?pid=10000103&sid=a8B_OJiCCI4Q&refer=us

[punpirate]

1. Doesn't matter--the more the Bushies...

... bring up ideas from people with a vested interest in the investment business, the more his plan will backfire. People will come to see them as hyenas.

[NVMojo]

2. yep, even if they are puppet Democrat investors ....

[autorank]

3. Excellent post. The Quislings are at it again.

I wonder if being labeled a "Democrat" is some time of marketing gimmic this guy uses. I hope to "the one whom none is greater than" that we don't even think about breaking ranks on this one.

[NVMojo]

4. I was thinking the same thing, this is a puppet to hold up to convince

the rest of us that it is ok to come over to the other side....

[autorank]

5. Yes, I'm sure Mr. Pozen got a tastey bit of biz * style.

I look forward to the day we'll be able to just shout down a guy like this as a fraud. Dean's not quite there yet but I'm hoping.

[NVMojo]

6. ...I'm hoping too ...they say the pendulum always swings ...the other

direction ...eventually...

[lovuian]

7. This is smoke and Mirrors!!!

they will make it look like Pozens idea but then switch to Bush's

Its a bait and switch deal obviously!!!

[NVMojo]

8. they are desperate!!!

Bush is losing this one so far so Rove will come up with next to anything for him to win... makes me wonder if this guy is even a registered Democrat. With these crooks, someone needs to check....

[cthrumatrix]

9. he is a registered Dem.... but that doesn't mean his idea is correct

I have yet to see a serious write-up on what it is

[Bridget Burke]

10. We've never seen a serious write-up of Bush's "plan" either....

Faith-Based Finance!

[NVMojo]

11. They want to take this nation back to Pre-New Deal and that means

they are fake based Christians!!!