Bush: "Massive numbers of baby boomers like me will soon begin to retire"

[Bush_Eats_Beef]

...a teaser headline for those of you who hoped that "Baby Boomer Bush" would be retiring in January 2005...

:evilgrin:



http://www.whitehouse.gov/news/releases/2005/02/20050226.html

I'll be visiting New Jersey and Indiana next week, and I plan to keep traveling across the country to talk about Social Security. I will continue to reassure those of you born before 1950 that your Social Security benefits will not change in any way: You will receive your checks, and that is a fact.

I will also make clear to younger workers that Social Security is heading toward bankruptcy. Massive numbers of baby boomers, like me, will soon begin to retire. People are living longer and benefits are scheduled to increase dramatically, and fewer workers will be paying into the system to support each retiree. For you younger workers, the current system has made promises that it cannot keep -- and that is also a fact. Every year we wait to address this problem will make any eventual solution more painful and drastic, and we will saddle our children and grandchildren with an ever-greater burden. We need to act now to fix Social Security permanently.

As we fix Social Security, we must also make it a better deal for younger workers. I have proposed allowing you to set aside part of your payroll taxes in personal retirement accounts. These accounts would be voluntary; the money would go into a conservative mix of bond and stock funds that would have the opportunity to earn a higher rate of return than anything the current system could provide. And that money would provide a nest egg to supplement your traditional Social Security check or to pass on to your children. Best of all, it would replace the empty promises of the current system with real assets of ownership.

I have said repeatedly that all options are on the table for strengthening Social Security, with the exception of raising the payroll tax rate. I'm willing to listen to any good idea. And I will work in good faith with members of Congress from both parties on this issue. Some in Washington want to deny that Social Security has a problem, but the American people know better and you have the power to determine the outcome of this debate.

[Longgrain]

1. Wasn't he due for retirement just over a month ago? N/T

[Career Prole]

2. Was there a demon spawn boom?

That'd explain the preponderance of sh*theads.

[w13rd0]

3. Raise the cap...

...problem solved. If all options are "on the table", why does Bush spend so much time trying to push "solutions" that destroy the institution, rather than the measures proscribed in the original plan (raise income taxes on top brackets after 2018 or whatever the hell date is the magic date). So either raise the income taxes on the top brackets, or raise the cap to 150-200 thousand...

[Botany]

4. Massive numbers of baby boomers, like me, will soon begin to retire.

The man is fucking clueless.

George you were a born lucky idiot........
You do not have to worry about retirement.

I do hope the truth on you comes out and you have to worry about jail time for
any number of the deeds you have done to the world.

:grr:

[Canuckistanian]

5. His retirement was secure the day he was born

This ponzi scheme will ensure that he can eat caviar every day in the old folks home.

[kentuck]

6. And he thinks we will all be alive in 2047?

breaking the system?