<snip>
Bush's Lies on Social Security
Could Cost Americans Trillions
by Paul Gallagher
Starting with a Dec. 6 meeting with Congressmen, President George W. Bush began a drive to privatize and loot some or all of the $125 trillion which American workers are scheduled to contribute to Social Security over the next 75 years, proving himself a liar in his repeated campaign promises that he would "not touch the benefits of America's retirees." Reports from the meeting show that the unfortunate President insists on pushing all or most of those payroll contributions into private individual retirement accounts, destined to fill up Wall Street sinkholes, just like the recent years' disappearing 401k private retirement pensions which Americans now ruefully call their "201ks."
Cheney and Bush plan to make the announced Dec. 15-16 "White House economic summit" into a stealing summit, by ignoring the dollar's collapse, and focussing instead on Social Security privatization and new tax cuts for corporations and the wealthy.
Compounding his campaign lies that he would not loot Social Security benefits, Bush now peddles an even bigger falsehood: that Social Security is bankrupt. Press spokesman Scott McClellan, at the Dec. 6 White House briefing, repeatedly told the press a completely irresponsible whopper, that the Social Security fund will be $10 trillion in deficit at some indefinite future epoch "if we do nothing." There is not the most remote basis for this "straw man" claim—an asteroid will hit the Earth first—except that if it's believed, anything Bush does to wreck Social Security looks good by comparison.
<more at link>
http://www.larouchepub.com/other/2004/site_packages/ss_privatization/3149bush_lies_ss.html