Bush Retirement Accounts Plan Dead -- Top Democrat (Reid says no votes!)

[Lone_Star_Dem]

It's in LBN
http://www.democraticunderground.com/discuss/duboard.php?az=show_topic&forum=102&topic_id=1204832#1204865



Bush Retirement Accounts Plan Dead -- Top Democrat

7 minutes ago U.S. National - Reuters

By Donna Smith

WASHINGTON (Reuters) - The top Democrat in the Senate on Tuesday predicted that President Bush (news - web sites)'s plan to revamp social security by diverting taxes into private investment accounts would fail to pass Congress.

Senate Democratic Leader Harry Reid was speaking as Bush prepared to use his State of the Union address on Wednesday to argue for his proposals and then follow up with a five-state tour to campaign for the new investment accounts.

"President Bush should forget about privatizing Social Security (news - web sites)," the Nevada Democrat said. "It will not happen. The sooner he comes to that realization, the better off we are."

(snip)

Without Democratic support, the plan will fail to win the 60 votes needed to overcome procedural hurdles which can block any major piece of legislation in the 100-member Senate.

Reid said none of the 44 Democrats in the Senate would back a plan that diverts Social Security taxes into accounts that workers would invest in stocks and bonds. Opponents argue it would only add to Social Security's financial problems, force big cuts in benefits and add to ballooning budget deficits.


more:

http://news.yahoo.com/news?tmpl=story&u=/nm/20050202/us...


Enjoy... :)

[RobertSeattle]

1. Heard that on AAR news today - was music to my ears

Dead on arrival.

[Pam-Moby]

2. "It will not happen" The words I like to hear. n/t

[Bake]

3. I'll believe it when I see it.

Sorry to be skeptical, but the Dems haven't given me much reason to be optimistic. Except for Barbara Boxer, of course.

Bake

[Lone_Star_Dem]

6. Nothing to be sorry for

We've had a rough ride in the past. I said, "I hope they all get the memo", myself.

We need a united stand on this issue on so many different levels. I'm keeping my fingers crossed.

[splat]

4. Beware

Granny power was never in doubt.

So what's next, when he yields on something that never had a chance.

[pinto]

5. good time to make a statement and a good stand to take...

This Social Security bust plan is a train wreck.

Mr. Bush and his economic advisers know it. They are hiding the details for later Congressional spin, and Republican Congressmen will be "expected" to carry the water for this loser of a proposal.

(see - "I will not negotiate with myself" comments from recent Prez appearances)

There are more adjustments beyond the privatization - a term Bushbots are vehemently opposing - of Social Security in their plan.

The trillions in national debt privatization incurs can not be made up by any economic growth formulae. There will be a Social Security benefit reduction of some form in the February budget.

This train won't ride.


Thanks for the post.

[Triana]

7. hallalujia!!!

any democrat that votes for bu$hit's SS plan ought to be strung up by his/her toenails - naked - on FOX news.

[pacalo]

8. This is very good to hear.

It's a travesty that such a vital issue as social security is totally in the hands of our congresspeople. The People should have the power to vote on whether we want to keep social security or end up depending on the kindness of strangers in our old age.

This administration's ideas are straight from the Twilight Zone. To think that it wants to force us to gamble with our money by putting it into the fluctuating stock market is insane. And to put salt in the wound, it would require millions of dollars just to get the insanity started. When is the nitwit-in-charge going to stop spending our money like there's no tomorrow?

[Toucano]

9. The sooner he comes to that realization, the better off we are.

That's true of SO MANY things!

Good job Sen. Reid.