Demagogue Starts With Dem
President demagogues on Social Security in his weekly radio address.
On the 75th anniversary of the signing of the Social Security law, President Obama pledged Saturday to protect it from some Republicans who he said want to privatize the retirement account system and "place bets with Social Security on Wall Street."
That, the president said in his weekly radio and Internet address, would be a reckless move as the nation's economy struggles to recover from a recession, noting that President Franklin D. Roosevelt signed the Social Security measure into law in the depths of the Depression.
The president does need to do something to try an scare seniors back into the Democratic fold after all the reckless spending, government expansion, and the takeover of large chunks of the private economy. Congressman Pat Toomey breaks it down in the Republican response.
You remember the scary privatization proposal from President Bush, which would have allowed individuals to mess around with tiny amounts of their SS dollars?
Up to four percent of taxable wages, up to a maximum of $1000, could be diverted from FICA and voluntarily placed by workers into private accounts for investment.
Not so scary. Tell that to the demagogues who refuse to have a serious debate.