Social Security Reform Explained
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Thread: Social Security Reform Explained

  1. #1
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    Social Security Reform Explained

    http://www.whitehouse.gov/news/relea...050204-13.html

    Q -- really understand how is it the new plan is going to fix that problem?

    THE PRESIDENT: Because the -- all which is on the table begins to address the big cost drivers. For example, how benefits are calculate, for example, is on the table; whether or not benefits rise based upon wage increases or price increases. There's a series of parts of the formula that are being considered. And when you couple that, those different cost drivers, affecting those -- changing those with personal accounts, the idea is to get what has been promised more likely to be -- or closer delivered to what has been promised.

    Does that make any sense to you? It's kind of muddled. Look, there's a series of things that cause the -- like, for example, benefits are calculated based upon the increase of wages, as opposed to the increase of prices. Some have suggested that we calculate -- the benefits will rise based upon inflation, as opposed to wage increases. There is a reform that would help solve the red if that were put into effect. In other words, how fast benefits grow, how fast the promised benefits grow, if those -- if that growth is affected, it will help on the red.

    Okay, better? I'll keep working on it. (Laughter.)

    Yes, sir.

    Q How do you like these hard questions?
    So, that's alright then. Any questions?
    David Aldridge,
    "The Oracle Sponge"

    Senior Manager, Business Intelligence Development
    XM Satellite Radio
    Washington, DC

    Oracle ACE

  2. #2
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    So, that's alright then. Any questions?


    Yeah.....like.....um.....gnarly dude! Did either of his teeny bopper daughters write that? Not you slimdave.

    Had it been coherent I might have been able to ask a REALLY important question, but.....since it wasn't I'll reiterate.

    Yeah.....like.....um.....gnarly dude!
    Rick

    Sigh.....those were the days my friend, I thought they'd never end.
    I too remember when this place was coo.


  3. #3
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    I'm guessing by 2009, Bush will have this whole president thing figured out.

    Private accounts will not keep Social Security going, Bush wants to cut benefits. So there will be people just under 55 today that will get a lot less benefits than someone just over 55 today? How fair is that?
    this space intentionally left blank

  4. #4
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    How fair is that?


    For starters, social security IS a welfare program.

    Instead of concerning one's self with whether or not privatizing, or leaving as is is fair, right or whatever, look at those who will not have to depend on social security and consider how they can do that.
    Rick

    Sigh.....those were the days my friend, I thought they'd never end.
    I too remember when this place was coo.


  5. #5
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    Originally posted by gandolf989
    So there will be people just under 55 today that will get a lot less benefits than someone just over 55 today? How fair is that?
    All government social security schemes are pyramid schemes - they would be illegal in the private sector. In a pyramid scheme the early investors come off best.

  6. #6
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    Originally posted by Alchemy
    For starters, social security IS a welfare program.
    Amen brother.

    These projected short falls will suddenly disappear when 1/3 of all taxpayers are paying AMT in 2009.
    Jeff Hunter
    marist89@yahoo.com
    http://marist89.blogspot.com/
    Get Firefox!
    "I pledge to stop eating sharks fin soup and will not do so under any circumstances."

  7. #7
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    MY GOD this is a disgrace, how could I have ever voted for that man.
    We need to get a democrat in their the next time!!
    I remember when this place was cool.

  8. #8
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    Just trying to give dave a heart attack, how'd I do?
    I remember when this place was cool.

  9. #9
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    Like I said in November, at least we're assured of some great comedic material for the next four years

    Anyhoo I wonder who's pulling GWB's strings on this policy? Evidently this isn't his own idea, 'cos he can't even get close to explaining it even in layman's terms, so whose idea is it?
    David Aldridge,
    "The Oracle Sponge"

    Senior Manager, Business Intelligence Development
    XM Satellite Radio
    Washington, DC

    Oracle ACE

  10. #10
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    Made you look.
    I remember when this place was cool.

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