Welcome!


Welcome to the Save Social Security blog. This blog was established to document exactly where each representative and senator in the 109th Congress stands on Social Security "privatization", a.k.a. Social Security abolition.

UPDATE: Josh Marshall has come up with a better system than this, so I've decided to shut this one down. Thanks to everyone who helped. I've been amazed at the level of support I've gotten, and the volume of e-mails, but I can no longer keep the site going alone. Thanks for your support.

How you can help


[+] (click the plus to expand)




Monday, December 20, 2004

Bush May Be Borrowing Trouble with Social Security Plan

Ron Brownstein of the LA Times has a nice analysis of the risks of the Bush Social Security plan. Brownstein writes that even Wall Street is skeptical:

The plan Bush is expected to endorse would close that long-term funding gap by significantly reducing the growth in guaranteed benefits for future retirees, relying on the returns from the individual accounts to compensate for part of the loss.

In essence, the administration is betting that the markets will stomach even large amounts of explicit new debt for a Social Security plan that reduces the so-called implicit debt of unfunded future obligations.

The administration says it is finding plenty of Wall Street support for that logic. But some financial traders consider it more wish than forecast. They believe the markets will weigh the reality of massive new federal borrowing more than the promise of long-term savings — especially if the plan defers any benefit reductions far into the future, as seems possible.

"In an ideal world, the market would say, 'Good, they're doing something to fix Social Security,' " says Ethan Harris, chief U.S. economist for the investment firm Lehman Brothers. "But I think the market will focus almost exclusively on the increased deficit."

If Harris is right, that would mean higher interest rates — and bigger bills for mortgages and consumer loans.


41 Comments:

Anonymous Anonymous said...

A suggestion: Instead of using 'for privatization' think about using 'for the destruction of Social Security.' That is what the result will be. In reality they are against SS and identifying them as for something is misleading.

Gail Davis

December 20, 2004 at 1:59 PM  
Blogger Phoenix Woman said...

Thanks for doing this blog and database. As I found out from the Dean campaign, "If it is to be, then it is up to me." We have the power to save ourselves and our future!

December 21, 2004 at 11:12 AM  
Blogger Phoenix Woman said...

Oh, and if anyone's afraid to oppose the "popular" Bush -- guess what? He's not at all popular. Only the circle-the-wagons effect from 9/11 saved his butt.

December 21, 2004 at 11:14 AM  
Anonymous Anonymous said...

The real destruction of Social Security will come when the baby boomers retire. That's when more benefits will be paid out than taken in by all the young people paying in.

Don't you people get it?

Your SS money has already been spent! If you were allowed to keep that money in the first place, at least you could have blown the money on a big party or something! Either way the end result is the same: Your money is gone.

December 21, 2004 at 3:40 PM  
Blogger Steve said...

Glad to see you are getting in the game early. I will bew checking in to help save the program and keep the Bush from destroying the program...

December 22, 2004 at 4:05 PM  
Blogger Steve said...

I also agree with Gail's idea. Don't use the language the right wing media uses. its part of their talking points....more Bush control.

December 22, 2004 at 4:06 PM  
Anonymous Anonymous said...

I have looked at various government sites,i.e. Social Security and the CBO site, and haven't been able to figure out where our mortality rates come in. I'm 53 and what I mean is starting in 10 years or so the number of us starts going up but there is no leveling off in 30 years when I suspect most of us will be dead. Instead the number of people collecting keeps on going up and it just doesnt't make sense. Can some one help with this?

December 27, 2004 at 2:54 PM  
Blogger Steve said...

http://nytimes.com/2004/12/30/politics/30retire.html?hp&ex=1104469200&en=7f13c2147ea3ffff&ei=5094&partner=homepage

AARP joins the fight

December 30, 2004 at 12:52 PM  
Blogger jenniebee said...

Wow - Save Social Security came up as the Featured Blog on Be Bothered, and I just had to click through. Be Bothered is running a whole series on Social Security (you can find today's here). Please, trackback to it so that more people can find the great work you're doing here!

Thanks

February 5, 2005 at 10:30 AM  
Anonymous Leo, New York City said...

I think Social Security is a doomed system. It was designed when people did not even live to see the benefits. Today, when people live longer and the number of people eligible for Social Security increases by the day, the system will be a constant drag on the economy and our people, because one would need to constantly raise taxes or decrease payments to keep pace with the incrteasing number of retirees. I am acttually amazed how negatively people view this privatization plan that Bush is putting forward. According to this plan, people would have an option - not a requirement - but an option to put some of THEIR money into some form of investment account (can be stocks, but can also be gov. bonds or money market funds). That way government won't be able to spend that money on something else and the person would be able to pass that money to future generations. I guess people are so afraid of anything new, or just like taxing solutions (i.e., raise the income limit or taxes). I don't get - why would you now want to have a choice whether you want to invest the money yourself or let the government invest it. I, personally, would love to be able to invest the whole 6% myself. It's amazing how popular the idea of entitlement is. "Bush is destroying the system" - how can reasonable people subscribe to this nonsense??? Imagine you and your employer could invest 12% of your salary in something else. Imagine you could decide where to put 12% of your salary. Say, you would invest it 50% in stocks and 50% in government bonds (both, low-cost index funds). Do you really believe that you would have less saved up after 20-35 years of working and saving that Social Security provides today? Wake up - governement spent most of the surplus in the last decades because you not government should control your money. I would just leave SS system as is, allow benefits to decrease over time and provide more incentives for people to save themselves. And private accounts is a pretty good idea too.

May 26, 2005 at 11:30 AM  
Anonymous Anonymous said...

Hey nice info you posted.
I just browsing through some blogs and came across yours!

Excellent blog, good to see someone actually uses em for quality posts.

Your site kept me on for a few minutes unlike the rest :)

Keep up the good work!

Thanks!.

October 19, 2005 at 5:54 AM  
Anonymous Anonymous said...

Nice savings loan site... You should check out this : **free coupon** site.

October 20, 2005 at 3:04 PM  
Anonymous Anonymous said...

This is a good post. I have a site about remax real estate please look at it if you can.

October 25, 2005 at 12:22 AM  
Blogger banner ads said...

There is alot of Blogs, I never guessed I'd find some usefull information.

Thanks.
I'll be back later to see if anymore good updates are available.

October 25, 2005 at 5:55 PM  
Blogger cheap car insurance said...

Hey You have a good blog here Keep up the good work

I have a blog too it is about cheap car insurance

Thanks for the usable information.

Keep up the great work.

October 28, 2005 at 11:54 AM  
Blogger Car Insurance uk said...

Great content Keep it up

October 28, 2005 at 11:55 AM  
Blogger Car Insurance said...

I'll have to come back later, I'll as you to my favorites

October 28, 2005 at 11:55 AM  
Blogger 性爱 said...

I am totally nude come see me. Take a bit for all pics and movies to load.

Why do I do this I like to make men blow their jiz in their pants.

Visit me.性爱

October 30, 2005 at 9:07 AM  
Anonymous Anonymous said...

I really enjoyed reading your Blog about phone area code. I also have a Blog/Website about phone area code come check it out!! Have a great day!

November 3, 2005 at 2:36 AM  
Blogger Goodman441 said...

Hey! I found a great new site for loans and credit card information, Please visit it when you can, You will be glad you did!! Go here now! http://www.loanofficial.com

November 3, 2005 at 12:08 PM  
Blogger The Blah Brain said...

Hey would you like to trade links with me? [I place your link on my site, you place mine on yours] I have over 20,000 hits a month on my blog - www.theblahbrain.com just post a comment if you're interested and I'll gladly put your link in my blogroll on the sidebar! Thanks, Paul

November 6, 2005 at 5:31 AM  
Blogger Car Insurance Center said...

Hi Thanks for your interesting blog. I also have a blog/site, covering auto insurance quote related stuff. Feel free to visit my auto insurance quote site.

December 20, 2005 at 8:34 PM  
Blogger Car Loans Home said...

Hey, you have a great blog here! I'm definitely going to bookmark you!

I have a car interest loan rate
site/blog. It pretty much covers car interest loan rate
related stuff.

Come and check it out if you get time :-)

December 30, 2005 at 8:39 PM  
Blogger Car Loan Home said...

Hi thanks for your blog, I liked it! I also have a blog/site about atlanta car loans
that covers atlanta car loans
related stuff. Please feel free to visit.

January 31, 2006 at 6:30 AM  
Blogger James Baker said...

I just came across your blog and wanted to
drop you, Blogger, a note telling you how impressed I was with
the information you have posted here.
If you have a moment, please visit my site:
u s savings bonds
It covers u s savings bonds related contents.
I send you warm regards and wish you continued success.

February 11, 2006 at 3:01 PM  
Blogger James Baker said...

I just came across your blog and wanted to
drop you, Blogger, a note telling you how impressed I was with
the information you have posted here.
If you have a moment, please visit my site:
credit center
It covers credit center related contents.
I send you warm regards and wish you continued success.

April 6, 2006 at 8:12 AM  
Blogger James Baker said...

I was searching blogs,and I found your site.Please,
accept my congratulations for your excellent work!
If you have a moment, please visit my site:
credit center
It pretty much covers credit center related issues.
Have a good day!

April 6, 2006 at 12:55 PM  
Blogger James Baker said...

Congratulations Friend for your excellent blog on credit center!Keep up the good work!
If you have a moment, please visit my site:
credit center
I send you my warm regards and wish you continued success.
Have a nice day! :-)

April 7, 2006 at 10:16 AM  
Blogger Joe Berenguer said...

I was just searching blogs,and I found your site, Friend! I like it!
Please accept my compliments and wishes for your happiness and success.
If you have a moment, please take a look at my site:
credit center
It pretty much covers credit center related issues.
All the best!

April 7, 2006 at 5:57 PM  
Blogger Paul Adams said...

Hi, Fellow!I like your blog!
I just came across your blog and wanted to
drop you a note telling you how impressed I was with
the information you have posted here.
I have a insurance center
site. It pretty much covers insurance center related subjects.
Come and check it out if you get time :-)
Best regards!

May 20, 2006 at 12:55 PM  
Blogger James Baker said...

Hey Fellow, you have a great blog here! I have a web
site & blog about insurance center.
Yours is top-notch!
If you have a moment, please visit my site
insurance center
I wish you all the best!

May 20, 2006 at 8:45 PM  
Blogger Online Degree Adviser said...

Greetings, I was reading some blogs and came across your blog. I'm quite impressed , with how it has a good feel. This is one to watch.

Regards,

car insurance deals

June 1, 2006 at 5:04 AM  
Blogger Joe Berenguer said...

Hi Blogger! I like your blog! Keep up the
good work, you are providing a great resource on the Internet here!
If you have a moment, please take a look at my site:
insurance center
It pretty much covers insurance center related issues.
Best regards!

June 20, 2006 at 2:38 AM  
Blogger Paul Adams said...

Hey Fellow, you have a great blog here! I have a web
site & blog about insurance center.
Yours is top-notch!
If you have a moment, please visit my site
insurance center
I wish you all the best!

June 20, 2006 at 8:58 AM  
Blogger Paul Adams said...

I just came across your blog and wanted to
drop you a note telling you, Friend, how impressed I was with it.
I give you my best wishes for your future endeavors.
If you have a moment, please visit my site:
insurance center
It covers insurance center related contents.
All the best!

June 20, 2006 at 5:12 PM  
Blogger James Baker said...

Hey Fellow, you have a great blog here! I have a web
site & blog about insurance center.
Yours is top-notch!
If you have a moment, please visit my site
insurance center
I wish you all the best!

June 22, 2006 at 2:15 AM  
Blogger Joe Berenguer said...

Hi, Fellow!I like your blog!
I just came across your blog and wanted to
drop you a note telling you how impressed I was with
the information you have posted here.
I have a insurance center
site. It pretty much covers insurance center related subjects.
Come and check it out if you get time :-)
Best regards!

June 22, 2006 at 2:17 AM  
Anonymous auto insurance prices said...

Hi there Blogger, a real useful blog.Keep with the good work.
If you have a moment, please visit my auto insurance prices site.
I send you warm regards and wishes of continued success.

June 30, 2006 at 1:38 PM  
Anonymous automobile association insurance said...

This is an excellent blog. Keep it going.You are providing
a great resource on the Internet here!
If you have a moment, please take a look at my automobile association insurance site.
Have a great week!

July 10, 2006 at 6:19 AM  
Anonymous atlanta second mortgage said...

Hi Blogger, I found your blog quite informative.
I just came across your blog and wanted to
drop you a note telling you how impressed I was with it.
I give you my best wishes for your future endeavors.
If you have a moment, please visit my atlanta second mortgage site.
Have a great week!

July 14, 2006 at 6:06 PM  
Anonymous average cost home insurance owner said...

Hi there Blogger, a real useful blog.Keep with the good work.
If you have a moment, please visit my average cost home insurance owner site.
I send you warm regards and wishes of continued success.

July 21, 2006 at 2:46 AM  

Post a Comment

<< Home