BonzoAPD

http://www.clintonfoundation.org/120302-sp-dlc.htm


Here's the money quote from toward the end of the speech:

"When I left office, there was enough money to keep Social Security going till 2053, enough money to keep Medicare going tail 2027, through half the life of the baby boomers. I don't know what the latest numbers are going to show but they won't be good. If we don't modify the tax cut to have more tax cuts now but we reinstate fiscal responsibility over the long run, we're going to be in real trouble there. So, what's our option? If you don't like privatizing Social Security and I don't like it very much, but you want to do something to try to increase the rate of return, what are your options? Well one thing you could do is to give people one or two percent of the payroll tax, with the same options that Federal employees have with their retirement accounts; where you have three mutual funds that almost always perform as well or better than the market and a fourth option to buy government bonds, so you get the guaranteed social security return and a hundred percent safety just like you have with Social Security."

ISP James

maybe i read to fast but sounds to me like he is supporting some form of SS privatization :goodjob:

BonzoAPD

ding ding ding, what does James win

Epoch

Surprisingly enough, the same kind of privatization that both Benjamin and I have stated we would support. He sounded more sure than I, so I can't speak for him, but if I were to review a plan similar to what Clinton was reccomending here and I found it to be sufficient, I would probably support it.


What's amusing is that, as of yesterday, the administration is now backpedaling and no longer referring to it as a "crisis" (Now referring to it as a problem), and they are admitting that their plan will cost trillions of dollars...

ISP James

it is nice to see that there is some sort of bipartisan agreement on an issue like this, at least the acknowledgement that we cant leave SS alone as it is wont be from one side only

Tobra

Frigging politicians. It was a crisis when Clinton was in office, then it is okay, then we have to do something or are in real trouble. Bush says nothing, then it is a crisis, now it is a problem. It is a problem, and it is not like it will get smaller if we sit and probe our asses with our thumbs. If only they would worry more about doing there jobs than keeping them...

Epoch

I agree strongly that something must be done, but we have a good 10 years or so to fully plan out something that wont fail. There is an issue to be dealt with, but it isn't a end of the world crisis that must be solved without thinking it through.

BonzoAPD

I think 10 years may be too long. I do believe it needs to be thought out before enacted but if we wait 10 years the changes made may not be able to save the program

Tobra

Yeah, and with a money crisis, time is important, lest we forget that time is money

ISP James

even if it isnt urgent enough to warrant an instant remedy, we should be reviewing the options and if we do find one that is satisfactory, if not better, why not impliment now? if we dont, we keep working at it but "there is always tomorrow" isnt the attitude that we should approach this issue with.