I have seen the first Bush regime ad against Social Security this morning and as is their practice, it is a monument to half truths.
They are careful to explain that while there were many workers per recipient to support the program at its inception, calamity of calamities, there will only be two workers per retiree when the baby boomers all retire. While this is all true, they also seem to omit a number of facts regarding the solvency of the system.
The system was adjusted, twice, in the last 25 years to ensure the viablity by increasing the payroll taxes so that a larger surplus would be building toward the time when the boomers began retiring. I will not get into specifics because Josh Marshall over at Talking Points Memo and others have pretty much proven the case against the Lyin' King's attempt to fulfill the biggest and most ardent republican wish of the past 70 years. Suffice it to say that in addition to the CBO, reputable economists have noted that the system is solvent through 2042 and beyond. Beginning in 2018, however, the "Trust Fund" will begin to be used to help pay benefits. Of course, the Lyin' King and his gang of fascists would like nothing more than to have you forget about that. You have heard the arguments about how the Trust Fund isn't really an asset because it holds "Special" Treasury Bonds, etc.
Think about this, if those "Special" bonds, backed by, "The full faith and credit of the United States" are deemed worthless, what does that say to every treasury bond backed by the same promise? How will that affect those people, companies and nations who purchase them and in the doing, finance our burgeoning debt? Will it be likely to inhibit them from buying again, after all if the US is willing to default on its obligation to its own citizens, why would they hesitate to do the same for outlanders? Take this to the bank, the Lyin' King financed his tax cuts to the wealthy using the Social Security Trust Fund, as well as other government funds, proving yet again that for republicans, when it comes to trust and concern for the people, they have neither. Never have, never will. Some things just don't change with time.
Consider this, if you will, conservatives were the loyalists during our War Of Independence. They were "patriots" alright, but their patriotism was to God and King George. Hmmm, as I said, some things seem not to have changed much but one thing is perfectly clear, conservatives and their philosophy were wrong for America in 1776 and they sure as hell are wrong for it now.
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