Items in alt.politics

Subject:Re: Kiss your retirement buh bye.
Date:Thu, 14 Oct 2004 21:14:04 -0700
From:Capt. Crunch <capt@hotmail.com>
Newsgroups:alt.politics.misc,alt.politics.bush,alt.politics.liberalism,alt.fan.rush-limbaugh,alt.politics
You want the truth?  Truth & Justice <nowhere@nohow.com> can't handle
the truth. The Moron  wrote:

>Bush raids federal pension fund:
>
>Friday October 15, 2004
>
>US President George Bush's administration announced emergency measures
>to skirt a $7.38-trillion debt limit.
>
>Treasury Secretary John Snow said he would steal from pension money to
>keep the government running.
>
>In a letter to Senate majority leader Bill Frist on Thursday, Snow said
>he was immediately suspending payments to a federal employees'
>retirement scheme, the Government Securities Investment Fund (G-Fund).
>
>He said that he was hoping that the missing money could be repaid at
>some unspecified time in the future.
>
>The admission of fiscal mismanagement by the administration comes less
>than three weeks before Bush faces Democratic challenger Senator John
>Kerry in the November 2, presidential election.
>
>"George Bush continues to make history for all the wrong reasons: He's
>the first president to go without creating a new job since the Great
>Depression and now he's run up more debt in [a] shorter period of time
>than all the presidents combined in the 200 years from Washington
>through Reagan," said Kerry campaign spokesman Phil Singer.
>
>This is the third time he's broken his promise not to raise the debt
>ceiling.
>
>House Democratic leader Nancy Pelosi described Snow's manoeuvre as "a
>shameful admission" that the administration's economic policies had
>failed the American people.

Because the Social Security trust fund started with 0 real assets, and
has been pilfered by politicians with special interest projects and
pork-barrel politics, it is due to have less income than payouts in
2015. Which means that either people's payouts will have to be
reduced, the fund's reserve interest will have to be tapped, or those
currently paying into it will have to pay more (which means more
taxes).
+
Social Security has been pilfered by Congress for a long time before
the GW Bush administration.

Pelosi hasn't any room to talk.  

Feb.2003
Nancy Pelosi of San Francisco has pushed through $1 million in federal
funds for a think tank started by her longtime adviser and campaign
treasurer, former Lt. Gov. Leo T. McCarthy, sparking concerns that she
is rewarding a supporter with taxpayer money.

The $1 million appropriation for the Center for Public Service and the
Common Good at the University of San Francisco was among thousands of
items buried in the 3,000-page, $397.4 billion omnibus appropriations
bill that Congress passed last week after just a few hours of debate.

Pelosi's office confirmed Thursday that the San Francisco Democrat,
who was elected House minority leader in November, obtained the $1
million for the USF center, without requiring McCarthy and USF to go
through the normal application process for such grants.

Until she became minority leader, Pelosi was a senior member of the
House Appropriations Committee, the panel that annually adds thousands
of "unrequested funding earmarks" at the request of individual
senators and House members for projects back home.

-
Meet Kerry's Kids: Little Johnny Edwards, Mikey Moore, Georgie Soros