Snow Says Bush Social Security Fix Won't Lift Rates (Snow/Cato/GOP lie )

and of course our media buries the truth - if they report it - in the middle of an article under a he said/she said approach.

http://www.bloomberg.com/news/economy/politics.html

Snow Says Bush Social Security Fix Won't Lift Rates (Update1)
Dec. 15 (Bloomberg) -- President George W. Bush will be able to fund the introduction of private Social Security accounts without pushing up interest rates, U.S. Treasury Secretary John Snow said. <snip>

``The financial markets, the capital markets, the bond market, Wall Street will applaud the action,'' he said. ``They will understand that reduces the long-term obligations of the United States and we will be able to finance any necessary transition costs.''<snip> (a lie - only a cut in benefits cuts long term obligations - and Snow has a system not in trouble, needs no cut - but he is indeed planning to cut benefits - but keep the excess revenue through 2018 for the financing of the tax cut for the rich - and force interest payments so large that they will end other social service spending. But one must appreciate the CATO Michael Tanner lying and say the Actuaries are wrong about there is already a safe current system, saying "Failing to enact private accounts will only pass on an intolerable legacy of debt and higher taxes to our children and grandchildren," when he knows the accounts by themselves accomplish nothing as to better funding of Social Security)
)

Lee Price, research director of the Washington-based Economic Policy Institute, said the funding of private accounts will increase borrowing costs by aggravating Bush's effort to halve the federal budget deficit. The outstanding public debt has climbed 35 percent since he took office in January 2001 <snip>

Henry Aaron, an economist at the Brookings Institution in Washington, agreed and said Bush's proposal would also diminish national savings and push up the current account deficit from a record $166.2 billion reached in the second quarter.

``If one wanted to set the most perverse possible agenda, one that would exacerbate the U.S. budget deficit, increase our current account deficit, reduce savings still more, President Bush's agenda would be ideal,'' Aaron said. <snip> (at some point the central bank governors and foreign finance ministers will stop having confidence in U.S. markets and unload our debt like the they dropped Argentine debt - but Bush pretends it will never happen)

I said CLAP, GODDAMNIT!!!

or some sort of white powder that is causing delusions

if the stock market crashes when it's time for you to retire?
Will the taxpayers have to pay again to keep the oldsters off the street?
Another hidden cost in the price of privatization.

When you say "the taxpayers" you imply "all the taxpayers."

Only the lower class will be supporting these people. The money will come from some orwellian-sounding program that draws everything from them and exempts the rich.