Bush says: Social Security Trust Fund is Fiction

This post was written by marc on April 5, 2005
Posted Under: Letters to the Editor

Letter to the Editor

Bush atated today that the Social Security Trust Fund was a fiction, saying that it’s just an IOU. That’s because he took all the money and gave it away to his billionaire friends in the form of tax cuts for the rich. Under Clinton we had a surplus and we were paying off the borrowing left by the previous Bush and Reagan administrations. What is Bush’s solution – more borrowing. This time he wants to borrow money and gamble it in the stock market.

I remember the good old days when Republicans wanted a balanced budget amendment and at least gave lip service to fiscal responsibility. Bush’s statement that the Trust Fund is fiction means that he borrowed the money and he’s not paying it back. Bush claims that the Democrats don’t have any ideas on how to fix Social Security – but that’s not true. The Democrat’s plan was fiscal responsibility, pay back the trust fund, and run surpluses. And I think it’s a better plan that borrow and spend and gamble in the stock market.

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