September 24, 2007


This made sense until the very last word ...

The Bush administration said Monday the only way to permanently fix Social Security is through some combination of benefit cuts and tax increases.
That was one of the key findings in a new paper on Social Security released by the Treasury Department in an effort to achieve common ground on the politically explosive issue.

"Social Security can be made permanently solvent only by reducing the present value of scheduled benefits and/or increasing the present value of scheduled tax increases," the paper said. The Treasury paper said that while other changes to the giant benefit program might be desirable "only these changes can restore solvency permanently."

Meanwhile, Senator Obama has half a solution ...

Sen. Barack Obama, D-Ill., is considering a major tax hike on the rich to shore up the nation's Social Security system.

I'll begin to take Democratic proposals to fix Social Security seriously when they choose to address the spending problem as well, rather than just raising taxes.

Posted by Charles Austin at September 24, 2007 01:41 PM