socail security

socail security - Bush's Plan to Loot Social Security By...

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Bush's Plan to Loot Social Security By Norman D. Livergood The crimes of the Bush junta never cease to amaze us. They couldn't get a Social Security privatization bill through Congress in 2005--but they let nothing insignificant like laws and regulations stop them. George W. Bush is telling us that Social Security is in trouble NOW. And you can believe everything he tells you--right? The Bush junta and Wall Streeters are peddling the Big Lie that Social Security is inevitably going bust. It is not! The Social Security System (SSS) runs at a surplus of $100-$120 billion annually and will continue to do so throughout the twenty-first century! THIS IS WHY THE BUSH JUNTA WANTS TO LOOT SOCIAL SECURITY--IT'S WHERE THE BIG MONEY IS! This trust fund system is one of the few programs set up by the federal government that works. In 1999, SSS received $383 billion in checks, $436 billion in taxes, and an additional $49 billion in interest. Instead of red ink, Social Security made almost $102 billion in profit, to add to the more than $652 billion it had in surplus from previous years. Dubya is now LOOTING this Social Security surplus by spending the money on weaponry manufactured by his defense industry cronies! As usual, Bush II is LYING to try to wreck the entire Social Security System. He's telling the American public that the Social Security fund is NOT a separate fund in trust to the 32 million older Americans whose lives depend on it. Former Federal Reserve Chairman, Alan Greenspan, lied by saying that the Social Security system is "financially threatened." Greenspan was endorsing the privatization scams which would require workers to put their Social Security retirement payments into the stock market. This is the same treacherous stock market in which witless investors lost between $700 million and $1 trillion on December 6, 1996, the DAY AFTER Greenspan had admitted that the stock market is in trouble because of what he called "irrational exuberance." In other words, Greenspan himself intimated that the stock market might be in for a new speculative disaster on the order of the Great Crashes of 1929, 1987, 1998, and 2000--but American workers should put their money in this Big Casino so Wall Street can loot their billions in retirement funds. Every day the feeding frenzy accelerates, with columnists and other sycophants falling into step, warning us that the Social Security System is facing disaster. Fortunately, some leaders have the courage to speak the truth. Robert M. Ball, former Commissioner of Social Security from 1962-1973 and a member of the Advisory Council on Social Security, has said "there is no financial crisis in Social Security." As Ball explained, the system is today accruing substantial surpluses."
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The sky is not falling. The fact is that the Social Security System is doing fine and faces only the danger that the public might believe the big lies that the Federal Reserve, Republican Congresspersons, the Bush junta, and Wall Street are mounting against it. Dubya's former panel was chaired by Senator Daniel Patrick Moynihan (D:NY) and AOL
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socail security - Bush's Plan to Loot Social Security By...

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