I shake my head in utter disbelief as I read this story:
WASHINGTON (AP) — President Bush said Thursday that “now is the time to confront Social Security” to deal with a projected $3.7 trillion, 75-year shortfall and give younger workers the ability to invest some of their contributions. Bush also promised to send Congress “a tough budget” early next year to hold the line on federal spending. “You will see fiscal discipline exercised inside the Oval Office this coming budget cycle,” the president told a White House economic conference. Bush, who credited his tax-cutting policies with reviving the economy, said his strategy will be “to grow the economy with reasonable tax policy but to make sure the deficit is dealt with by being wise about how we spend money.” “It’s not going to be easy,” he said. “It turns out (congressional) appropriators take their title seriously.”
Bush is worried about some shortfall over the next 75 years even as he will add to the Federal debt over $3.7 trillion in just six years of “fiscal discipline”? And if he knew anything about the Federal budget, he’d realize that eliminating a General Fund deficit in excess of $600 billion without tax increases would require either massively slashing the DoD budget or simply eliminating wholesale many of the other government programs. Of course, he has NO plans to significantly reduce Federal spending anyway except for Social Security benefits.