http://www.talkingpointsmemo.com/archives/week_2005_01_30.php#004638(February 02, 2005 -- 04:35 PM EDT)
If we're not mistaken, tonight's State of the Union address (aka, the kick-off of the
Bamboozlepalooza Tour) should knock the Fainthearted Faction and the Conscience Caucus into utter turmoil. And pretty much every member of Congress is going to be asked by some reporter somewhere what they think of President Bush's Social Security phase-out plan.
And let's be clear, that's what this is.
The idea of phasing out only part of Social Security is just a con. The plan here is to get rid of Social Security entirely and replace it with a government system of private investment accounts in which everyone can sink or swim as well as they can manage.If you don't make enough during your working life to save much, you're out of luck. If your investments go bad or you die young, you and your kids are out of luck too. On the margins there may well be a new system of elder welfare for those who can prove they would die or be without any means of support absent a government hand-out. But gone entirely will be the current Social Security system in which every American who pays into the system over their lifetime has a guaranteed bedrock of retirement security which can't be taken away ever, not as a matter of a handout or disgrace or pity, but as a matter of right to a modicum of comfort and dignity in retirement after a lifetime of work.
If you doubt that the plan is to get rid of Social Security entirely you are simply naive. Look at the structure of all the phase-out proposals. They don't really envision a hybrid system for the longterm. They are all designed to siphon money out of the system, weaken it, trigger the crisis President Bush now falsely claims exists and create an accelerating pressure to complete the process of phase-out.