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Wednesday, June 22, 2005
The New Social Security Private Accounts Plan
Congressional Republicans have apparently taken a new tack in the debate over Social Security. In their new plan, as explained by the AP's David Espo, the GOPers don't deal at all with solvency and don't have private accounts. There is one catch, though. Their bill mandates individual accounts.
With the acquiescence of their leaders, key House Republicans are drafting Social Security legislation stripped of President Bush's proposed personal accounts financed with payroll taxes and lacking provisions aimed at assuring long-term solvency.Pardon me as I descend into symantics, but the definition of inviolate is "not violated or profaned; intact." If the Social Security surplus is "available only to create individual accounts" rather than saved to finance future benefits, then the surplus is by definition being violated (def: "to break or disregard"). Am I reading this article incorrectly? Maybe I'm confused...
Instead, according to officials familiar with the details, the measure showcases a promise, designed to reassure seniors, that Social Security surplus funds will be held inviolate, available only to create individual accounts that differ sharply from Bush's approach. [emphasis added]
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