Cheney Says U.S. Must Act Now on Pensions System

[SillyGoose]

http://story.news.yahoo.com/news?tmpl=story&cid=584&e=3&u=/nm/20050113/pl_nm/retirement_cheney_dc

<snip>
WASHINGTON (Reuters) - Vice President Dick Cheney conceded on Thursday that President Bush's plan to change Social Security would be costly but putting off action on the retirement funds system would cost even more.

The estimated $1 trillion to $2 trillion in transition costs for Bush's plan to add private accounts to Social Security have created wariness on Wall Street and in Congress.

Bush has said little about the transition costs and the White House has signaled it will likely rely on government borrowing -- a prospect that unnerves investors already worried about high budget deficits.

Bush's sales pitch for his plan suffered a setback last week when a leaked White House memo suggested the White House may favor curbing the rate of increase for Social Security benefits. Many Republicans fear the unpopularity of such a move would cost them dearly in congressional elections in 2006.
<snip>

don't these people know when to quit borrowing money? They are scaring the crap out of me with this wanton reckless spending.

[DRoseDARs]

1. Because the only warning we'll get will be in the form of mushroom clouds.

:eyes:

[No Exit]

2. Hey Dick--

Your personal fortune could put a huge dent in any insolvency Social Security allegedly has.

Just a suggestion.

[havocmom]

3. Friggin corporate vampires HATE the idea that there is money sitting

where they can't get their mitts on it. Makes them insane with lust. Probably the ONLY thing that makes them lust, come to think of it.

Hey, maybe it would be a good idea to slip some Viagra into their Wheaties? Maybe if they got a boner once in awhile they would put some balance into their, ah, pursuits?

[kodi]

4. focusing on SS cuts and ignoring the Medicare crisis is criminal

.

[DELUSIONAL]

5. During the late 80s and early 90s remember all the companies

being bought, sold and traded?

In some cases divisions of companies were sold to other mega companies -- and the pension funds in many cases just disappeared.

For example -- Take G.E., for example, they sold off a division to another defense contractor and this division was sold twice more. The huge pension fund disappeared somewhere during one of those transfers.

There is a huge potential of massive scandals -- with all the mergers and selling off of smaller companies -- what happens to the pension funds? Some of these funds have major bucks because many of the employees have been with the company for years and have contributed to the pension fund during their long employment.

United Airlines -- is another example -- what happened to the employee contributions to the pension funds?

I've read some of this problem -- but not as much reporting as it deserves.

My theory is that the friends of bush and cheney (and their friends who are funding the gross display of crass stupidity in the upcoming coronation) have been looting the pension funds -- just like they looted the savings and Loans. They see money sitting in accounts and try to steal it -- while diverting everyone's attention with Janet Jackson's *it.

[bpilgrim]

6. Quick, before we get NIXON'd!

http://images.globalfreepress.com

peace

[Lostnote03]

7. Just curious???

.........The IOUs' owed to SS funds are to be re payed in roughly 7yrs I believe....The long term aspects of out-sourcing jobs does not promise a very bright future for that to occur along of course with many other factors(deficit)....My question, is this part of the sabotage technique, knowing that the funds are not there to repay when the bonds are called in which would extend the solvency.....are they redirecting the funds(more borrowed money) to their buddies now so as to ensure the collapse (technically)w/i 7yrs....I am not knowledgeable of these matters so please don't take me too seriously.....lol...Best Wishes

[PurityOfEssence]

8. The Grinch who fucking stole EVERYTHING

How DARE you not starve in my presence! The gravy train's over; only the rich get taken care of.

If we can't take back the House in '06, we don't deserve to continue as a party.

[jrthin]

9. Oh, they're executing

the Iraq strategy on Social Security issues. Next they'll have Condi come out and describe the financial mushroom cloud that will occur if we don't handle Social Security issues, now. Then they'll send out Powell (forgot, he's no longer there, but heck, he'll still be servile) with drawings, and you know the rest of the story. Been there, done that.

[fearnobush]

10. Soon we will see a SS color coded warning system.

Black for solvent
Orange for hey, lets steal it
Red for, It's ours (GOP) - now pay us bitch, we stole it fair and square.


<>

[Moderator]

11. Duplicate

http://www.democraticunderground.com/discuss/duboard.php?az=show_topic&forum=102&topic_id=1148753