March 16, 2005 Press conference
On Social Security & private accounts:
|It’s important for the American people to understand that I believe the Social Security system has worked well, that Franklin Roosevelt did a positive thing when he created the Social Security system,…|
I have not laid out a plan yet-- intentionally
Personal accounts do not solve the issue [Social Security solvency]. I repeat: Personal accounts do not permanently fix the solution.
The one [poll] I read the other day said people like the idea of personal accounts.
You know, one thing about Social Security-- sorry to blow on here, but now that you asked-- a lot of people in America think there is a trust. Your money goes in, the government holds it, and then the government gives your money back when you retire.
That’s just not the way it works. And it’s important for the American citizens to understand it’s a pay-as-you-go system.
And right now, we’re paying for a lot of programs other than Social Security with the payroll tax coming in, thereby leaving a pile of IOUs…In other words, somebody’s contribution in the system just goes away.
|rendition-- of transferring individuals out of U.S. custody to countries where human rights groups and your own State Department say torture is common for people in custody|
In the post-9/11 world, the United States must make sure we protect our people and our friends from attack. That was the charge we have been given.
And one way to do so is to arrest people and send them back to their country of origin with the promise that they won’t be tortured.
|You can understand why: It’s [Iran] a non-transparent regime run by a handful of people… I believe Iran should adopt democracy. That’s what I believe.|
On Paul W:
|And Paul is committed to development. He’s a compassionate, decent man who will do a fine job in the World Bank.|
On Tom D:
|I have confidence in Tom DeLay’s leadership and I have confidence in Tom DeLay.|
On baseball & steroids:
|But I’m wise enough not to second- guess the intentions of the United States Congress.|
It’s a bad signal [use of steroids in Texas high schools]. It’s not right.
On the Death Penalty:
|No, I still support the death penalty and I think it’s a deterrent to crime. But I want to make sure, obviously, that those subject to the death penalty are truly guilty.|
General, fun stuff:
|I like the idea of people running for office. It’s a positive effect when you run for office, you know. Maybe someone will run for office and say, Vote for me, I look forward to blowing up America. I don’t know. I don’t know if that’ll be their platform or not. But it’s-- I don’t think so. I think people generally run for office say, Vote for me; I’m looking forward to fixing your potholes or making sure you got bread on the table.|
And so Karen’s [Hughes] going to-- one, I want to thank her for coming back from Austin. It’s very hard, if you’re a Texan, to abandon Austin for anywhere else-- or Texas for anywhere else.
There is a Justice Department opinion that says these pieces [video news releases] are within the law so long as they’re based upon facts, not advocacy.
I like to get out of Washington. I like to discuss big issues.
he is full of truths
Hey Clark - did you get my apology about your dad & the union debate? I didn’t mean to piss you off. You usually have a very thick skin (due to living way up in MN).
What’s your point? These quotes don’t seem to say anything outrageous…
I agree - nothing outrageous. It’s more in the way that he says them, which is lost in simple text. He is, however, misleading us (some might say lying) about the SS Trust:
|The securities held by the trust funds are future financial claims against the government. Securities in the Social Security trust fund accounts, along with other Social Security revenues, give the Treasury the authority to write checks. Just as a positive balance in a checking account means an individual can draw on that account, a balance in the Social Security trust funds means that checks can be written on the Social Security account.|
I think it’s more what he doesn’t say, although I think there are some gems here. We’ve gotten used to him not saying very much but here he’s actually quite chatty.
The SS “trust fund” was made part of the general budget years ago. Unless I missed something, his quote is simply pointing that out.
Something else to condiser… Privatizing SS accounts would pull all of that money out of the General fund. Maybe not such a good idea?
What are you talking about? There is a real trust fund but the "extra" money taken in from the payroll tax is going into the General Fund. Bush is misleading us when he says what he said above. Bush doesn't want to honor the IOUs in the fund which is why he's saying what he is. After 2018 (or whatever date you believe), the money that is not taken in from the payroll tax, will be taken out of the Trust Fund (though IOUs) until 2048 (or whatever date you believe).
Why do you think Gore talked about a lock box around SS? He was talking about the Trust Fund.
Pulling SS out of the General Fund is probably a great way to fix it. That will never happen because if the losses the General Fund will take. Privatization should be looked at as a separate issue. What this points out is there are serious problems with the General Fund as well, and they may be more serious in the long run. If SS needs to be used to bail out shortfalls in the GF then that’s were the fixes need to start. There’s a BIG can of worms in the GF.
|Quote (Mr Soul @ Mar. 18 2005,15:01)|
|Hey Clark - did you get my apology about your dad & the union debate? I didn't mean to piss you off. You usually have a very thick skin (due to living way up in MN).|
yeah man. All good. I appreciate it.
|Quote (Mr Soul @ Mar. 18 2005,16:10)|
|The SS "trust fund" was made part of the general budget years ago.|
What are you talking about? There is a real trust fund but the "extra" money taken in from the payroll tax is going into the General Fund.
IF that's the case then it IS NOT a "Trust Fund". It cannot be defined as a Trust Fund if they are doling money out of it into the general fund. I'll stick to my guns and say again, the government should keep their paws out of the SS fund. So I guess I can agree with Al Gore on something! (Whoa....that's scary....)
PS RE: the original thread topic. I like the way Dub communicates. Just because he speaks in plain, simple (true ...sometimes goofy sounding) terms does not indicate a lack of intelligence or passion for the American people.
|Quote (Mr Soul @ Mar. 18 2005,16:10)|
|What are you talking about? There is a real trust fund but the "extra" money taken in from the payroll tax is going into the General Fund.|
What is this "extra" money that you speak of?
It's been common knowledge for as long as I can remember that somewhere along the line Congress couldn't resist the allure of all that SS money sitting there out of their control and incorporated it into the General Fund. There is no "lock box."
Let's see if we can all get on the same page.
The system is taking in more money than it pays out in benefits right now - that's the "extra" money. This money goes into the SS Trust Fund. It is true that the money for SS is going into the General Fund (not good), but IOUs are being created (that's how the fund works). Around 2018, the system will be paying out more than it takes in from taxes, at which time, the US governement will have to start honoring the IOUs. Around 2048, the system will go into the red and will only be able to pay 80% of benefits. This is what we need to fix.
Bush has admitted that his private accounts will NOT, I repeat, will not solve the SS solvency problem. And Bush is lying or misleading you & I about the fund, there are IOUs there, but he doesn't want to honor them because it will make the deficit even higher than it already is.
You're right there is no lock box and that's because Al Gore wasn't elected as President.
|Quote (Mr Soul @ Mar. 19 2005,14:03)|
|It is true that the money for SS is going into the General Fund (not good),|
Yep. That's exactly what I said. It goes into the general fund and there is no magic "lock-box" that holds our money for us until we retire.
It's gotta hurt to agree with me. Just breath slowly, it'll be OK.
*** I’m pulling the plug on this part of the discussion ***
He's sure full of something, but around these parts we don't call it truth.