Bushii's accomplishments

[bendog]

This is a post by someone else on another board from around 2001, not long after Bushii took office and before 9-11. These past few years have been long, and the entire GOP seems to suffer from long term memory deficit, as well a fiscal insanity.


Unless steps are taken to protect its long-term solvency, experts say the nation's retirement income system will be exhausted by 2032.

Clinton's proposal is to put 62 percent of the government's budget surpluses into Social Security's cash reserves.

The plan would set aside $2.7 trillion dollars in projected budget surpluses over the next 15 years and includes using Social Security funds in the stock market for the first time.

Federal Reserve Chairman Alan Greenspan criticized the plan, saying the government could damage the economy by investing huge sums of money in the stock market.

[Bronco_Beerslug]

Greenspan is a republican crony for sure but is apparently senile too.


"There is really no strong evidence to suggest any positive aspects of moving Social Security funds into equities," Greenspan, the chief architect of the government's last major revisions to Social Security 16 years ago, told members of the House Ways and Means Committee.

Greenspan offered enthusiastic praise for Clinton's idea of devoting much of projected federal budget surpluses to Social Security but disparaged the prospect of investing some of those funds in the stock market

Congressional Republicans and conservative policy analysts echoed Greenspan's criticism. "If the government owned all the equities, we wouldn't really be much different than the old Soviet Union," said Kevin Hassett, resident scholar at the American Enterprise Institute.

Greenspan Wary of Market Role in Social Security Rescue
By Amy Goldstein and Steven Mufson
Washington Post Staff Writers
Thursday, January 21, 1999; Page A1

President Clinton's surprise proposal to link the fate of Social Security more closely to the stock market began to stir doubts yesterday about how his initiative would affect the U.S. economy and prompted potent criticism from Federal Reserve Chairman Alan Greenspan.
http://tinyurl.com/4yn3m

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Feb. 17, 2005 – Federal Reserve Chairman Alan Greenspan said yesterday he approves the idea of private investment accounts, but added, “…you have to do it in a cautious, gradual way.” This remark came in a question and answer period with the Senate Banking Committee after he made the semi-annual presentation on the economy.
http://tinyurl.com/dfqqe

[bendog]

I think Forbes is smirking even more these days. God knows Gore is.

[L.A. BRONCOS FAN]

Yep.

http://www.bartcop.com/prez-crooked-men.gif

[L.A. BRONCOS FAN]

Greenspan is a republican crony for sure but is apparently senile too.

http://www.bartcop.com/who-chair-fed.jpg