A Certain Sense

President Bush-war explains how his privatized accounts will "save" Social Security:

"Because the -- all which is on the table begins to address the big cost drivers. For example, how benefits are calculate, for example, is on the table; whether or not benefits rise based upon wage increases or price increases. There's a series of parts of the formula that are being considered. And when you couple that, those different cost drivers, affecting those -- changing those with personal accounts, the idea is to get what has been promised more likely to be -- or closer delivered to what has been promised. "Does that make any sense to you? It's kind of muddled. Look, there's a series of things that cause the -- like, for example, benefits are calculated based upon the increase of wages, as opposed to the increase of prices. Some have suggested that we calculate -- the benefits will rise based upon inflation, as opposed to wage increases. There is a reform that would help solve the red if that were put into effect. In other words, how fast benefits grow, how fast the promised benefits grow, if those -- if that growth is affected, it will help on the red."

There, I hope that clears things up for you. In case you wonndered if you can still have IRA's under his plan, he has a very clear answer:

"You can through an IRA, for example. I can't answer that as -- what he's saying is, is that if he has a personal account, can he contribute more beyond that which is being contributed through a part of his payroll taxes. I would think so, yes, but I'm not sure. I do know, however, that you can complement a personal retirement account through the Social Security system with an IRA, which helps to achieve the same objective, basically setting up a personal account. Thank you."

Now, if you were worried that Wall Street would be gouging us through administrative fees for servicing these privatized accounts, here's Bush-war's comforting, succinct answer to that "fallacy":

"We don't want the federal government making stocks and bond decisions. (Applause.) They'll be private -- private sector, people who get paid to do this. And the fees, by the way, will be -- we'll make sure that you don't get gouged. I mean, obviously, what we want is people's money going into their personal account, not going into big fee structures. And so there will be a -- it will be regulated to that extent. In other words, there will a certain sense of regulation, you can only invest in certain kinds of stocks and bonds to be -- and the funds will be managed by people whose job it is to manage them, outside of the government."

There. I hope you're ashamed for thinking that our peace-loving, compassionate Administration has anything but your best interests in mind. Anyone who insists that Bush-war is a f*cking moron who kowtows strictly to the Neocon religious right and corporate America is obviously delusional and spends way too much time searching for the truth.