By Chuck Ring (GadaboutBlogalot ©2009 – 2010)
Quote Freely From The Article – Leave The Pseudonym Alone
FactCheck.org (FCO) claims to have found another Social Security whopper presented by Obama. This one brings with it an accusation that a tale told by POTUS accusing the Republicans of a plan to privatize Social Security is mostly bunkum. Although, FCO stops short of calling the President the great prevaricator, here are three points they make at the front of their article:
Few if any Republicans now in Congress have ever pushed for total “privatization” of Social Security. What President Bush proposed in 2005 was to allow workers under the age of 55 to invest a portion of their Social Security taxes in private accounts. Most of their taxes would have continued to go into traditional Social Security.
Bush’s proposal to create private accounts had so little Republican support in 2005 — when the GOP controlled both the House and Senate — that it was never introduced as formal legislation. We’ve seen no evidence to suggest the idea is any more popular among Republicans now.
Only one Republican “leader” is currently pushing publicly for Bush-style private accounts, as part of an overall budget plan. He is Rep. Paul Ryan of Wisconsin, the senior GOP member of the House Budget Committee. His plan currently has only 13 cosponsors, none of them in the GOP House leadership.
The article continues to say Obama even pushed the truth when he said, in effect, that the Republican’s plan would throw citizens’ investment to the wolves of Wall Street. This is another FAIL in the truth column for our leader according to FCO:
That’s not true of the private accounts Bush proposed. Those would have been invested in strictly regulated, broadly based mutual funds, much like the funds in which millions of federal workers invest their own retirement fund.
It looks as though Mr. Obama starts with a tall-tale (I’m being overly kind) and quickly sinks to more elephant “tails” if we take it from the beginning and continue to their analysis. What the analysis actually does is to spread bull butter over much, if not most, of Obama stories and during the process of churning the substance, they manage to acquit George W. Bush‘s plan for privatization. And that acquittal after all those years of progressives’ bashing of Bush’s ideas on Social Security.
So here we are with FCO and just in front of their analysis. Don’t take my word, read the analysis contained within the complete article. Here’s their link to a report on an earlier whopper by the same man … on the same subject. Just click here.
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