To support this site, please make your purchases through my Amazon link.
Saturday, November 27, 2004
Republicans ready to permanently bankrupt America
If this weren't so predictable I'd be outraged. The Times' Richard Stevenson writes up the GOP's blind embrace of deficits in Sunday's paper:
The White House and Republicans in Congress are all but certain to embrace large-scale government borrowing to help finance President Bush's plan to create personal investment accounts in Social Security, according to administration officials, members of Congress and independent analysts.A trillion here, a trillion there... it's not like anyone ever has to repay the debt. Oops! I do--that is to say my generation and the following generations will have to pay for the trillions Bush and his cronies in the Congress have added to the national debt, and I can tell you right now I'm none to happy about it. Judging by Bush's awful showing among those under 30, I'm not alone in my anger, either. If there's any way the Democrats can get back into power, these five words may hold the key:
The White House says it has made no decisions about how to pay for establishing the accounts, and among Republicans on Capitol Hill there are divergent opinions about how much borrowing would be prudent at a time when the government is running large budget deficits. Many Democrats say that the costs associated with setting up personal accounts just make Social Security's financial problems worse, and that the United States can scarcely afford to add to its rapidly growing national debt.
But proponents of Mr. Bush's effort to make investment accounts the centerpiece of an overhaul of the retirement system said there were no realistic alternatives to some increases in borrowing, a requirement the White House is beginning to acknowledge.
Government accountability and fiscal responsibility
To support this site, please make your DVD, music, book and electronics purchases through my Amazon link.