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Sunday, December 12, 2004
A Republican speaks out on Social Security
We all know Lindsey Graham is a deficit hawk, but it's nevertheless great to hear him actually sticking to his beliefs in attacking this administration. Reuters' David Morgan has the story:
A Republican congressional proponent of Social Security reform warned President Bush on Sunday not to rely on a sharp increase in government borrowing to overhaul the federal retirement program.Although the Republican coalition strongly relies on the religious right, it also depends on fiscal conservatives as well. If Bush purposefully bankrupts this country with a ridiculous program, look for people like Graham to stand up and fight.
U.S. Sen. Lindsey Graham of South Carolina said reliance on borrowing to finance an estimated $1 trillion to $2 trillion in transition costs would be irresponsible and could undermine Bush's tax- and deficit-cutting goals.
"What I'm asking of the president, when it comes to the transition costs, be flexible," said Graham, who has proposed a temporary rise in payroll tax contributions to finance Social Security's shift to partial privatization.
"I think it's irresponsible to borrow the whole trillion dollars," he told "Fox News Sunday."
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