Guru Contemplation - The Blog
Ok, so I listened to Prez. Bush tonight on the tube - what a miracle of modern technology. I am more than a little troubled by his two main points.
1. We don't have an energy strategy. Hmmm...Why is that? Shouldn't we be thinking about that? What the heck is being done to remediate that issue? ANWAR is the solution he is pointing at - I am not a geologist but I would imagine that ANWAR is a trickle compared to what we use in oil today. Ok, so if there isn't a solution and we are going to tap into a small spigot of oil, what about our other strategies? Is anyone looking into helping to conserve our fossil fuels? From what Bush said tonight - that is the farthest from his mind (oil and coal processes were at the top). We should be surprised about a leader who is tightly bound (not to mention his second in command) to the oil industry.
2. We need to fix Social Security - i.e. put private retirement accounts on-line w SS. Hold the boat...First, I understand that the government borrows overages from this fund to back bonds (what isn't sent to claimants). This kind of makes sense. Second, I understand that when folks buy bonds they are backing the government. In essence when you buy a bond you are backing SS. What I heard GW say was that folks could have a private account that would be backed by the bond process. SO if corporate stocks take a shit, then the government will replace the funds in the private account to ensure the person is still paid. Realizing they will not have the full benefit of the SS retirement, they will still in essence have a secure retirement because it is backed by the bonds. But wait...how will the government get the money to back the bonds? Secondly, we already have a privatized account system - two fair ones at that IRA and 401K. Not everyone gets into these and there are some limits, but for crying out loud - pick a direction. 401K have done so poorly (I lost 1/2 my value in the last 5 years) and IRA are so low to enter - why create the additional management burden of a new system - and who will pay for that burden? Probably loaned from the SS monies.
Look - fix the problem. If it means raising the tax - raise it. I think workers pay in some 20% and employers some 70%, with the remainder in other securities. Stop dropping so much money in military support and needless payments to other governments. Take a small portion of other expenditures and apply it appropriately. WTF happened to the surpluses from 6 years ago? Did we just piss them away? Why can't the government save the monies and squirrel them away for rainy day activities. Better yet, take a page from Joseph about what to do when bad times are looming ahead. Make people work for a year or two more, cut back the benefits slightly, take monies from other areas and prepare for the worst.
Bastards. I'll probably die on the job at 82 - trying to get enough money to buy cat food for my wife and I to eat at night.
Some nice links on the above topics...
http://www.dollarsandsense.org/1104orr.html
http://go.truemajority.org/c3oreo/
