Daily Kos :: Bush States Treasury May Default

Bush States Treasury May Default
by gwhayduke

Tue Apr 5th, 2005 at 20:35:17 CDT

From AP, via Yahoo:

"A lot of people in America think there is a trust -- that we take your money in payroll taxes and then we hold it for you and then when you retire, we give it back to you," Bush said in a speech at the University of West Virginia at Parkersburg.

"But that's not the way it works," Bush said. "There is no trust 'fund' -- just IOUs that I saw firsthand," Bush said.


"Imagine," Bush said in his speech. "The retirement security for future generations is sitting in a filing cabinet. It's time to strengthen and modernize Social Security for future generations with growing assets that you can control that you call your own -- assets that the government can't take away."

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So Mr. Bush has decided that he's going to risk causing a global financial panic in an effort to scare the living shit out of those who don't know any better, by alleging that there's at least a good possibility the United States government may default on its Treasury obligations.

I sit here stunned, really just speechless, that a sitting President would, for any reason whatsoever, even begin to hint in the most oblique and tangential manner possible that my Uncle Sam might default on any of his financial obligations.

It's one of the President's jobs to use his bully pulpit, if and when necessary, to do just the opposite, to talk up the financial health of the country, to calm troubled markets, to reassure the international financial community ... and this guy's out on the stump, doing his damndest to cheat the poor and middle class out of the one thing that will keep them, in their retirement, from having to push their shopping carts under overpasses in order to stay out of the rain while they eat their Alpo, and doing so by deliberately impugning the financial integrity of the United States government.

I mean, I really don't have the words to express my shock upon reading this.

Daily Kos :: Bush States Treasury May Default


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