« Plumber’s Crack As The Hot New Fashion Trend [Say Anything] | Main | Teddy Calling The Shots [Say Anything] »
January 28, 2005

Bush Chooses Structure For Private Accounts [Say Anything]

The Bush administration has settled on a proposal for how to structure the investment side of the private Social Security accounts he's been advocating.

WASHINGTON - President Bush's advisers have settled on a proposal for structuring the personal accounts they hope to create in Social Security, while on Capitol Hill Senate Democrats were launching an effort to defeat the plan altogether.

Under a plan recommended to Bush, the private accounts would resemble many company-sponsored retirement plans, with just a handful of investment options.

By default, workers would be enrolled in a "life cycle" account, in which investments become more conservative as investors age, if they do not choose one of the other options, according to two officials speaking on condition of anonymity.

Sounds reasonable enough to me.

Of course, the Democrats are girding themselves for battle over the plan.

On Friday, Senate Democrats were to hold a session aimed at showcasing the problems with Bush's overall plan to let workers divert a portion of their Social Security taxes into individual accounts that could be invested in the stock market. Among those testifying before the panel were a pair of workers from the Social Security Administration complaining that the employees are being used for political purposes to sell the Bush plan to the public.

"The president is certainly going to use his megaphone to convince people this is a crisis, and he's dead wrong on that," said Sen. Byron Dorgan, D-N.D., chairman of the Democratic Policy Committee, which works to promote party policies on the Senate floor and is sponsoring Friday's session. "We have to make the case that he's wrong."

Ugh. There's my Senator spouting the DNC's "There is no crisis" nonsense. Which begs the question, "Why do we have to wait for a crisis in order to fix a problem we know exists now?" This stance the Democrats are taking on this issue is nothing short of appalling.

What's behind it is the fact that the Dems don't want Social Security fixed during a Republican administration. If this weren't true they'd be introducing some alternative legislation in congress right now. But they're not. Instead they're trying to stonewall the issue for purely partisan reasons. Instead of an opposition party, this is what we're getting:

Baghdad Bob

[Cross-posted at Say Anything]

digg this
posted by Ace at 09:42 AM

| Access Comments

Recent Comments
Mikey NTH -Boo Hoo? You Do! Pity Party Supplies at The Outrage Outlet!: "Off, freaky-deaky playwright sock! ..."

🐧: "[i]Shooting at 20 feet is perfect. Most encounters ..."

Crassius Curio: "The parable of the vineyard is probably a bit bett ..."

AlaBAMA : "617 Shooting at 20 feet is perfect. Most encounter ..."

Jewells45: "Great advice Mookie!! ..."

Diogenes : "Ammo man came thru with some 380 ACP by Maxxtech. ..."

Reactor Axe Man: "Doctrinaire Catholics should be going to confessio ..."

🐧: "[i]I want to get good.. really good at this shit.[ ..."

Mookie: "But with clear eyepro. Posted by: hogmartin at ..."

Jewells45: "[i]Shooting at 20 feet is perfect. Most encounters ..."

ghost of hallelujah: " Has Tank conceded the VP slot yet or she still cl ..."

http://deveshcreations.com/: "Whatever is your hot game, you stand a great chanc ..."

Recent Entries

Polls! Polls! Polls!
Frequently Asked Questions
The (Almost) Complete Paul Anka Integrity Kick
Top Top Tens
Greatest Hitjobs

The Ace of Spades HQ Sex-for-Money Skankathon
A D&D Guide to the Democratic Candidates
Margaret Cho: Just Not Funny
More Margaret Cho Abuse
Margaret Cho: Still Not Funny
Iraqi Prisoner Claims He Was Raped... By Woman
Wonkette Announces "Morning Zoo" Format
John Kerry's "Plan" Causes Surrender of Moqtada al-Sadr's Militia
World Muslim Leaders Apologize for Nick Berg's Beheading
Michael Moore Goes on Lunchtime Manhattan Death-Spree
Milestone: Oliver Willis Posts 400th "Fake News Article" Referencing Britney Spears
Liberal Economists Rue a "New Decade of Greed"
Artificial Insouciance: Maureen Dowd's Word Processor Revolts Against Her Numbing Imbecility
Intelligence Officials Eye Blogs for Tips
They Done Found Us Out, Cletus: Intrepid Internet Detective Figures Out Our Master Plan
Shock: Josh Marshall Almost Mentions Sarin Discovery in Iraq
Leather-Clad Biker Freaks Terrorize Australian Town
When Clinton Was President, Torture Was Cool
What Wonkette Means When She Explains What Tina Brown Means
Wonkette's Stand-Up Act
Wankette HQ Gay-Rumors Du Jour
Here's What's Bugging Me: Goose and Slider
My Own Micah Wright Style Confession of Dishonesty
Outraged "Conservatives" React to the FMA
An On-Line Impression of Dennis Miller Having Sex with a Kodiak Bear
The Story the Rightwing Media Refuses to Report!
Our Lunch with David "Glengarry Glen Ross" Mamet
The House of Love: Paul Krugman
A Michael Moore Mystery (TM)
The Dowd-O-Matic!
Liberal Consistency and Other Myths
Kepler's Laws of Liberal Media Bias
John Kerry-- The Splunge! Candidate
"Divisive" Politics & "Attacks on Patriotism" (very long)
The Donkey ("The Raven" parody)
Powered by
Movable Type 2.64