Author Topic: One of this sites noted pesonalities speaks on SOTU  (Read 708 times)

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TM7

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One of this sites noted pesonalities speaks on SOTU
« on: February 04, 2005, 01:04:55 AM »
Well, here it is right from the horse's mouth:

2005
I want to come back to the comments I made regarding last night's SOTU address. I had a good night’s sleep so I’m clearer in my thinking now.

All I can say about president Bush and his political skills as a 30 year veteran of politics myself is Bush is good. Very good. As I said yesterday, the Democratic party stands no chance in preventing the partial privatization of Social Security.

Why? As I said before, I want to use this diary as a communication tool to educate the new cadre of the Democratic party. With my 30 years of experience in politics, I feel that is my obligation. I believe in educating young, dedicated people, who will one day become the new leaders of the Democratic party. If you are one of these committed active Democrats make notes. As I walk you through the SS issue, you will see politics at work. You need to understand the machine behind Bush’s victory in this SS debate.

Let's say there is a Social Security crisis. Let’s say Social Security has a funding problem. More money comes out than goes in. A normal person would say either increase the flow going in, or make a cut in the flow coming out.

President Bush’s solution is taking tax money funding SS and putting that into private accounts. Just think about it. How is partially cutting the flow of money going into SS a solution to the problem?

The problem and the solution don’t match. The reason for this is simple. President Bush isn’t really trying to save SS as his prime objective. What he wants to do is take money going to the government to fund SS and put it in people’s pockets in the form of private retirement funds. In other words, the president is actively pursuing his vision of an ownership society.

President Bush knows one thing. Americans, at least the baby boom generation and generation X don’t save money out of their own free will. That’s why he wants to force them to save and invest by making it a legal requirement.

Using the solvency or insolvency of SS is just a tool to force-create his ownership society. Not just that, it’s also the only large scale government program he could use to divert money from.

The partial privatization of Social Security doesn’t solve the funding question as I said before. Actually as it limits the tax money going in it worsens the funding problem of the program. How will he solve this funding issue?

Although I’m not in Washington, my ears are attuned to the political grapevine like radars. I know exactly what’s going on behind closed doors.

As I said, partial privatization has nothing to do with solving the funding question of SS.

Again as I said: Let’s say SS has a funding problem. More money comes out than goes in. A normal person would say either increase the flow going in, or make a cut in the flow coming out.

Bush has made it clear he does not want to increase taxes to fund the long term solvency of SS. In other words the only solution he allows is reducing the flow of money coming out of the SS fund, in other words Bush wants to cut the benefits people will get.

He proposes several ways to cut benefits, but what I hear is the most talked about compromise is increasing the retirement age by one or two years at which SS pays out the benefits. Americans, who still want to retire at age 65 can use their private retirement funds.

Is Bush’s proposal a bad idea only benefiting Wall Street brokers, who will receive big fees investing this retirement money?

It’s not a bad idea in itself. A steady flow of money will go into the stock market, big trustworthy companies will get funded by a steady stream of cheap investments, which they can use to expand their business. This will grow the economy and create jobs for Americans. This steady flow of money will also free up money tied up in big corporations and could be invested in small innovative new companies.

The risk I see is people putting their retirement money in Enron/ Worldcom like companies and losing their money. At least their private retirement fund money. The other problem I see is people unable to work, because of a handicap for instance? What about their private retirement fund? What will happen to stay at home moms, who get divorced?

The biggest problem might be what to do with the shortfall in money going in and coming out of the SS fund until the new program balances this. The government has to borrow billions of dollars to fill the gab between the current system and the new system. Can our economy take that? Who will pay for the borrowing is simple, the tax payer. But is a tax hike to pay for this possible?

Just to illustrate the amount of money we are talking about, look at these figures.

Workers pay 6.2 percent of their taxable wages to finance SS right now. Their employers also pay 6.2 percent per employee. In president Bush’s plan people under 55 could place as much as 4 percentage points of the 6.2 percent they themselves pay into personal accounts.

In other words SS in the future will only receive 2.2 percent of the taxable wages workers pay plus the 6.2 percent the employers pay.

We are talking about a lot of money that needs to be borrowed by the government.

As I said yesterday just after the State of the Union address, I now believe the president will get his way when it comes to reforming SS. The reason why I believe this is simple. Politics is about trust. After the successful elections in Iraq and yesterday's dramatic scenes in the Senate, when the Iraqi lady hugged the mother of a fallen soldier, I'm sure Americans trust the president not just with their safety, but also with their retirement money.

I'm disappointed in my party. They didn't even put up a fight. The president just rolled over their objections like the Democratic party didn't exist. I hope in Howard Dean's capable hands as chairman, the party will come back to life again. A democracy with no opposition is no democracy. And it is Bush, who succeeded in relegating our party to irrelevance. Never again doubt

by Bill Clinton, day after SOTU address


......................................TM7

Offline Brett

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Re: One of this sites noted pesonalities speaks on SOTU
« Reply #1 on: February 04, 2005, 02:48:05 AM »
Quote from: TM7
Well, here it is right from the horse's mouth:


by Bill Clinton, day after SOTU address


......................................TM7


From the horses other end is more appropriate.   Seems to me I recall Willie was thumping the "SS Crisis" drum himself when he was in office. Gee how soon they forget.
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Offline jh45gun

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One of this sites noted pesonalities speaks
« Reply #2 on: February 04, 2005, 05:21:44 AM »
I remember taking class in Vocational school where the instructor put up the figures of what a nest egg you could have if you started to save even a small amount of your earnings and never touching it until retirement. The amount was staggering enough even with out SS a person could live comfortably and if frugal live off the interest well. Much more than you would get out of SS. Of course this just ticks the Democrats off because they did not force the issue and It makes me mad that I did not hear this when I was 16 and starting to earn money. By the time I heard about it it was too late. Yea Every one says they are going to save but things come up and the money is gone. If you had to open a account and your money went into it before you ever got it in a paycheck and you could not touch it it is a very doable idea. One that folks would be better off than they are now with SS. The only other thing I see the need for is that when you retire this money would be doled out in monthly allotments so you could not spend it all at once or if say you ran into high bills say like medical bills they could not touch it or hold it against you just like SS Jim
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Offline Brett

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One of this sites noted pesonalities speaks
« Reply #3 on: February 04, 2005, 07:09:01 AM »
_____----********O********----______

THE PATRIOT PERSPECTIVE

Top of the fold -- The Demo Duo's recycled rhetoric...

President George W. Bush addressed the nation Wednesday, devoting much of his State of the Union comments to progress on the Iraqi warfront with Jihadistan and, on the domestic front, to Social Security reform. The President's remarks on those and other topics were forceful and, as has become the custom, were followed by an amusing rebuttal from the Left. Not to be outdone, this column will herewith continue its own custom of rebutting the rebutters -- sort of like shooting fish in a barrel.

Visibly shaken by the President's performance, the tag-team of Sen. Harry Reid and Rep. San Fran Nan Pelosi managed to find an open mike from which to regurgitate one of John Kerry's campaign stump speeches -- all of which, you will recall, were the same.

Reid was up first, and, after regaling us with a story about a little boy who wanted to grow up to be just like him, the Senator from Searchlight asserted that "the president's economic policies have left Americans and American companies struggling." The Demo assumption here is that the President controls the economy. Of course, the best any president can do is just what the Bush administration has done: get out of the way of the free market. Here, fiscal conservatives (and constitutional constructionists) understand that government's proper function is to allow the Invisible Hand to move, and to minimize interference with the economic forces that are key to the preservation and extension of liberty and democracy.

For the record, economists conclude with unanimity that our most recent recession started in the last year of the Clinton regime and was exacerbated by the 9/11 attacks. Here we hasten to add that this recession wasn't necessarily Bill Clinton's fault, though culpability for those horrendous attacks is another story.

For its part, the American economy has recovered quite nicely, having added well over two million non-farm payroll jobs in the past 19 months. In addition, home ownership and corporate profits are both at all-time highs, and the unemployment rate fell to 5.2% from 5.4% in January, the lowest since September, 2001 -- but you wouldn't know it from listening to Harry Reid. "We need to invest in our nation's future with a Marshall Plan for America ... to build the next economy," said Reid. To be sure, when a Leftist says "invest," he means "tax," and his suggestion that government should build the "next economy" is Orwellian at best, and Marxist at worst.

The myth of outsourcing just doesn't seem to want to go away. All in all, outsourcing -- sending jobs to India and China -- is good for the economy, as reflected in our low unemployment rate and consistent GDP growth in manufacturing and other sectors. Outsourcing removes lower-paying jobs and facilitates the growth of new industries, raising wages and keeping employment rates relatively stable. As such, outsourcing is merely another dimension of free trade, which keeps the markets working efficiently.

"Unless we give all Americans the skills they need to succeed, countries like India and China will take good-paying jobs that should be ours," added Reid. Perhaps he should look into school vouchers -- so "all Americans" can get the quality of education Reid's children received.

On the subject of partisanship, Reid noted, "When we believe the President is on the right track, we won't let partisan interests get in the way of what's good for the country." In other words, as long as the President's policies comport with the hallucinations of Sociocrats like Reid, they won't object.

Naturally, Reid reserved his biggest partisan punch for President Bush's plan for Social Security reform. "It's more like Social Security roulette," he said. You can read all about it in next week's column, but for now, understand that Democrats object to privatization of Social Security for two principal reasons -- neither of which relates to "retirement security" and both of which relate to Demo job security.

First, for generations Congress has spent every dime taxed, ostensibly, to finance the non-existent Social Security "trust fund" (though there are IOUs sitting in a file cabinet somewhere). Privatization would leave some of that tax in the hands of Americans, meaning they could invest it in their own future rather than Reid and company "investing" it in boondoggles to benefit their fat-cat campaign donors and constituencies. Democrats need "their share" of your income like most of us need oxygen. Without it, their special-interest extortion rackets suffocate.

Second, allowing investments in the free market would leave Demos at the mercy of conservatives, who would hold them accountable for any attempt to legislate new taxes or regulations which would stifle private sector returns -- the returns that millions of Americans depend upon.

Finally, as noted above, not only did Reid's children and grandchildren get far superior educational opportunities than those he advocates for your children, but he and his congressional colleagues get far superior retirement plans, too. Indeed, Harry can opt out of paying Social Security taxes in order to participate in -- you guessed it -- a privatized retirement plan -- a plan far more privatized than that proposed by President Bush.

If you managed to keep your eyelids peeled during Reid's soporific little speech, you must have had them sewn open. Which brings us to San Fran Nan Pelosi -- the woman who never blinks. (So much for digression.)

Predictably, Pelosi repeated the same stale whistle-stop arguments about the warfront in Iraq: "We all know that the United States cannot stay in Iraq indefinitely and continue to be viewed as an occupying force." (Last time we checked, only Ted Kennedy, Michael Moore and those democracy-fearing Jihadi terrorists were calling the U.S. an "occupying force." You're in good company, Nan.) We are liberators, not occupiers.

"Iraq still faces a violent and persistent insurgency," Pelosi said, "and is now a magnet for international terrorists." As noted in this column last week, and by President Bush this week, that is precisely our strategic objective -- keeping the warfront on their turf and not ours.

"We have never heard a clear plan from this administration for ending our presence in Iraq," growled the Lioness of Haight-Ashbury. Yet however unpleasant it may be -- and it is unpleasant -- our country's commitment to the War on Terrorism is a prolonged one. It's a commitment driven by objectives, not day-planners; a commitment whose exit strategy is as follows: We will exit Iraq as soon as our strategic objectives have been met.

On a related subject, Pelosi claimed, "For three years, the President has failed to put together a comprehensive plan to protect America from terrorism." This, of course, would explain the dozens of terrorist attacks we Americans have endured here at home since 9/11.

Memo to Ms. Pelosi: It is our belief that Homeland Security realignment, intelligence reform, and the Bush doctrine of pre-emption -- as demonstrated in Afghanistan and Iraq, and in ongoing covert and overt counter-terrorism operations around the globe -- constitute something on the order of a "comprehensive plan."

In the end, given their mind-numbing efforts to rebut all that is good and right with America, Reid and Pelosi serve to remind us of Ronald Reagan's quip, "The trouble with our liberal friends is not that they're ignorant; it's just that they know so much that isn't so."

He was a generous man!
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Offline BamBams

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Re: One of this sites noted pesonalities speaks on SOTU
« Reply #4 on: February 04, 2005, 09:14:48 AM »
Quote from: TM7

The risk I see is people putting their retirement money in Enron/ Worldcom like companies and losing their money. At least their private retirement fund money. The other problem I see is people unable to work, because of a handicap for instance? What about their private retirement fund? What will happen to stay at home moms, who get divorced?


And what, exactly, is wrong with an individual having a TRULY vested interest in our economy - as well as in preserving a marriage?  One cannot have their cake and eat it also.

SSB always has been just another government redistribution of wealth.  I hope it dies totally.  People need to learn how to take care of themselves again. Families need to learn how to care for their sick, young, and elderly again.  Social Security is really just Socialist Security - and this country didn't, and still doesn't need it.  It's just another way to be on welfare.
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Offline FWiedner

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Re: One of this sites noted pesonalities speaks on SOTU
« Reply #5 on: February 04, 2005, 09:52:33 AM »
Quote from: BamBams
Quote from: TM7

The risk I see is people putting their retirement money in Enron/ Worldcom like companies and losing their money. At least their private retirement fund money. The other problem I see is people unable to work, because of a handicap for instance? What about their private retirement fund? What will happen to stay at home moms, who get divorced?


And what, exactly, is wrong with an individual having a TRULY vested interest in our economy - as well as in preserving a marriage?  One cannot have their cake and eat it also.

SSB always has been just another government redistribution of wealth.  I hope it dies totally.  People need to learn how to take care of themselves again. Families need to learn how to care for their sick, young, and elderly again.  Social Security is really just Socialist Security - and this country didn't, and still doesn't need it.  It's just another way to be on welfare.


I agree totally, but Unca Sugar has been squeezing me for SSI change since the day I got my first paycheck.

SSI can go to blazes, and I still want my money back.
They may talk of a "New Order" in the  world, but what they have in mind is only a revival of the oldest and worst tyranny.   No liberty, no religion, no hope.   It is an unholy alliance of power and pelf to dominate and to enslave the human race.

Offline SAWgunner

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« Reply #6 on: February 04, 2005, 09:55:41 AM »
I love GW's view on politics, it has a Theodore Roosevelt flavor to it.  By that I mean, talk softly and carry a big stick...don't take crap off of anyone.  I have nothing but raves for GW's cleaning up of the Clinton smooth talking years (what would have Bill done with Afghanistan?  Scary to think about).  On the other hand, today's society dosen't take kindly to taking an active role in fixing a problem (such as the view that the war on terrorism dosen't invovle Iraq...bleh!).  If we are talking politics, that means swaying over your enemies also.  If GW could figure out a way to shove morals and solutions to our problems down the liberal's throat and convince them it is not only good for them, but tastes good too....Gentlemen, that would be a political genius.


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Offline Leftoverdj

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« Reply #7 on: February 04, 2005, 10:07:38 AM »
As usual, I disagree with everybody. Putting money into the stock market does absolutely nothing to finance production except when newly issued stock is offered. What it does is inflate the price of existing stock without any increase in underlying value. Bush is cynically creating a bubble that is doomed to burst and the economists in his administration are bound to know it.

This is on top of the artificial stimulus he is creating by spending a billion borrowed dollars a week on his doomed Iraq adventure. There is no conceivable that the US can benefit to the amount of what has already been wasted. We older folks remember exactly what happened when the bill came due on Viet Nam. Although widely blamed on Carter, the hard times of the 70s were the direct and inevitable results of the what had been squandered by Johnson and Nixon.

It is worth pointing out again that the USSR collapsed because the resources needed to maintain its infrastucture had been poured down the rathole of Afghanistan. That folly was, in no small part, promoted by Reagan who had the foresight to see that relatively small disbursements to proxies could place a crushing burden on the Soviets.

Bush has rushed headlong into exactly the same trap that destroyed the USSR and has fools cheering him. Future generations will curse his name, just as our parents cursed Hoover, and for better cause.
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Offline SAWgunner

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« Reply #8 on: February 04, 2005, 10:17:03 AM »
Bush has rushed headlong into this out of ncessity for the most part.  A two front war has not been waged by the US since WWII, and it will be costly.  I personally think that the Iraq war was driven by alterior motives, but the good has overcome the negative.  We need to take into consideration that without Bush, future Presidents would not have as strong of a National Debt/Budget issue to push.  You are correct in that Bush has created a magical garden for future budget reform candidates.  I think that GW could have militarily planned this a little more precisely, but what's done is done....we need to stop searching for scapegoats.  I ultimately feel that the Iraqi democracy will fail, as stated in snother forum, but we gave it to them.  We are not God and cannot ultimately decide what people do with freedom, but we tried to give it to them at all costs...Such an act is called Valor.


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Offline BamBams

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« Reply #9 on: February 04, 2005, 10:25:03 AM »
Money Schmoney!  IF one's rights are in jeapordy, the deficit wouldn't even matter - oops....they are in jeapordy.  Frankly, I couldn't care less how much a war costs in terms of money.  I'm more concerned about loss of life, and whether or not it's going to make the world a safer place.  If that takes every dime we have, it's still worth it!  Freedom costs blood.  Always has, and always will.  I think it's sooooo petty to concern ourselves with the price tag in $$$.
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Offline SAWgunner

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« Reply #10 on: February 04, 2005, 10:31:18 AM »
Ja, Bitte, Bam Bams.  People quickly forget that money is money.  Let me tell you, I would rather fund the Iraq war than Kerry's Wildlife *ahem-PETA* fund.  The money is going to get spent on something else anyway.  Gentlemen, and Ladies, I have been witness to wayyyy too many budget "discussions" in my life.  They go something like this...."We really, really need money for this project that the General's nephew has headed...Please, PLEASE, PLLLEEEAAASSSEEE!!!!"....Senator, "Okay, you say that this has no practicality....Okay, which unit do I write that check to?"

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Offline jh45gun

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« Reply #11 on: February 04, 2005, 10:46:35 AM »
If you put it in a savings account that you could not touch and a percentage of every check went into that by the employer so you had no control over it until you reached retirement age which you could do earlier than the proposed 67 now say 62 like it used to be you would be supprised at the money you would have saved with interest. Jim
Said I never had much use for one, never said I didn't know how to use it.