If you read enough numbers, you never know what you’ll find. Take
President Bush and private Social Security accounts.
Last year, even though Bush talked endlessly about the supposed joys of
private accounts, he never proposed a specific plan to Congress and never
put privatization costs in the budget. But this year, with no fanfare
whatsoever, Bush stuck a big Social Security privatization plan in the
federal budget proposal, which he sent to Congress on Monday.
His plan would let people set up private accounts starting in 2010 and
would divert more than $700 billion of Social Security tax revenues to pay
for them over the first seven years.
If this comes as a surprise to you, have no fear. You’re not alone. Bush
didn’t pitch private Social Security accounts in his State of the Union
Message last week.
John has more on this. Just remember – last year when he was campaigning for
this, support was at only 30%.