Mike Castle Favored Putting Social Security Money in the Stock Market
I’m sure glad that didn’t work out.
As you may recall, back in the day Castle was pretty much down with any bullshit scheme Tom Delay and Chimpy cooked up. – including “privatizing” social security.
According to Congressman “go along to get along” we needed to rush social security funds into the open market because
“..the rapidly approaching disaster of a depleted Social Security system. Within the next ten years “baby boomers” will start retiring. It is estimated that, as a result of this, by 2013 Social Security will be making greater payments to retirees than it will take in from the workforce. By 2032 the Social Security Trust Fund will be completely exhausted. Congress could rewrite this forecast by establishing individual savings accounts, restoring Social Security to permanent actuarial solvency, improving work incentives and/or resolving internal administrative problems.”
What a nit wit.
I f there was one big Democratic “win” during the Bush years, it was turning back this bit of Republican idiocy.
Actually, there were probably enough Dems to have passed it if the Republicans had hung together. But was Republicans who looked into the abyss and said No.
Riiiight…… Those noble Republicans. Everything redounds to their goodness.
It had nothing to do with the Dem caucus having a spine one freaking time.
Anyway – Castle was all about the Main street partnership that wanted to screw up Soc Security. Good thing those good Republicans stepped in.
..uhhh, no, the GOP was not noble; just covering their asses before the 2006 election.
Let me help you with the Rethug lexicon….
…if they say they want to fix it, it actually means it’s on the docket to be destroyed.
Haven’t learned this shit yet?
Who are you lecturing, VC?
Bankruptcy “reform”
Tort “reform”
Tax code “reform”
When a Republican proposes a “reform,” cover your groin and put one hand on your wallet.
word.
my comment is just an observation using a ‘scientific’ method…wasn’t addressed to anyone in particular…