Small Business Reading Room

Thursday, February 03, 2005

President Tackles Social Security, Alone?

The response to the Presidents' plan to fix Social Security, some of the Democratic members of Congress actually booed. I have not heard such a thing in a long time, if ever.

I hope the President does not have to tackle this difficult issue alone. As this writer was quoted on CNN American Morning this morning:

The Democrats have proven they can be rude and obstructionist.

Now let's see if they can get on board and make some positive contribution to the overhaul of Social Security. Don't they understand? We need them to be part of this or it will be written entirely by one side of the social spectrum.

The President is showing true courage on this. We should support him, even those who don't trust him.

We need the Democrats to watch over the process.


As always, there's more on Social Security today in the news. Check out the views of Bill Gross, manager of the world's largest bond fund:

Here's some of his intersting ideas:

"Production can only come from employed workers and so the basic solution is to produce more workers, either through immigration or postponed retirement for the existing work force,"

"By reducing budget deficits now, and especially that portion of the deficit owed to foreign governments, we would be able to keep more of our domestic production within our borders and therefore available to senior citizens."

I say why not go further, and leglisate true fiscal responsibility. In other words, let's only spend the money we have.

Is it easy? Of course not.
Is it necessary? Absolutely.

I wonder when my "elected" representatives will start to consider doing that...

By Blogger Russell, at 2:20 PM  

Biggest Bond Fund in the world?

I wonder if he is biased?

By Blogger Larry, at 5:08 PM  

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