The Indiana Democratic Party is trying to make Mark Souder pay for that nonsense back in 2005 about privatizing social security. Ah, those heady days of yesteryear when George W. Bush was claiming a “mandate” based on his squeaker of a win in Ohio, and he was ready to spend some political capital.
Bush, and his well-wishers such as Souder, began forging ahead on Social Security privatization. Then, they discovered that calling it “privatization” was politically toxic; so they started referring to privatization as “allowing for personal accounts.” Slapping a new coat of paint on the lemon didn’t do much to get folks excited about the plan, and it eventually died. The gist of the plan was to send a lot of Social Security money to Wall Street. As it turns out, I guess one way or another we’re sending money to Wall Street.
Imagine the situation seniors would be in right now if they’d actually pushed that through.
Good for the Indiana Democratic Party making sure those chickens come home to roost for Sodrel.
As a soon to be retiree I thank God and the AARP that the Social Security privitzation was a non-starter….this time. Be vigilant though. Now that the speculators have run through the dotcoms, energy, food, healthcare, housing and mortgages Social Security is about the only big pot remaining to raid.
To borrow a line from Lewis Black – oh yes, let’s make our own investments. Give me the money and I’ll invest in something safe… let’s see now, what’s that company with Bear in the name?
Um, didn’t Baron Hill favor privatization too?
I don’t know. If he did, he was an idiot and perhaps Sodrel can knock him around for it.
What Social Security money? Doesn’t all the money collected go into the general fund and get spent?
I mean, it’s not like the feds are buying mutual funds with it…