IvyMike

Social Security privatization is back on, losers.

Remember the Social Security privatization plan that everybody and their mother (especially their mother) hated last year? And you thought it was gone and dead? Well, as it turns out social security privatization is ON. ("And there ain't a GOD-DAMN thing you can do about it!"):

Last year, even though Bush talked endlessly about the supposed joys of private accounts, he never proposed a specific plan to Congress and never put privatization costs in the budget. But this year, with no fanfare whatsoever, Bush stuck a big Social Security privatization plan in the federal budget proposal, which he sent to Congress on Monday.

His plan would let people set up private accounts starting in 2010 and would divert more than $700 billion of Social Security tax revenues to pay for them over the first seven years.

If this comes as a surprise to you, have no fear. You're not alone. Bush didn't pitch private Social Security accounts in his State of the Union Message last week.

Americans didn't want this plan. But lucky us, we're getting it anyway.

Tags: social security, politics, bush, corporate welfare

posted by IvyMike @ 2/08/2006 04:38:00 PM