April 20, 2005

Social Security Privatization Bamboozle Tour in South Carolina

President Bush in South Carolina during this “town hall” meetings.
I don't know if you've ever heard of Dutch Fork High School in Irmo. I met a very innovative teacher who assigned her students this assignment: Why don't you write letters to the editor about their impressions of Social Security? Here's what one of her students wrote: "By the time my generation gets to the age to draw Social Security, there will be no money left for us to draw on." This is a young high school student writing that. This isn't a professor in economics. This is a high school student. He said, "I don't know about other people, but I don't like the sound of that." People are beginning to get the message that there is a problem in Social Security.
Matthew Yglesias over at Tapped ....
This has got to be one of the most clever ways to get around the truth that I've ever heard. The President doesn't quite say that at some point in the future there will be no money left to draw on, but he sure as hell makes it sound like there won't be. Needless to say, as loyal readers know, it's not possible for Social Security to go "broke," "bust," "bankrupt," or otherwise "run out of money." It's structured as a pay-as-you-go system, and until the payroll tax is repealed money will keep coming in every year until the end of time.
President Bush is using a high school student homework paper to lie about Social Security, this man has no shame.


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