From the American Progress Action Fund:
"On Monday, the White House said for the first time that President Bush's plan to privatize social security would be "financed in part by new government borrowing that could top $1 trillion." That money will make it difficult for President Bush to honor his campaign pledge to cut the deficit in half. The White House had "once hoped that budget surpluses, projected in 2000 at $5.6 trillion over 10 years, would fund the transition period," but under the Bush administration, "those surpluses have vanished." Last week, White House economic adviser N. Gregory Mankiw admitted President Bush's plan would also "include major cuts in guaranteed benefits for future retirees." Mankiw "flatly rejected raising taxes" as a way to improve benefits for the elderly."
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I still think that we should only give the flu vaccine to children and people under 60. That way many of the seniors will hopefully get sick and die off leaving us with less of a Social Security/Medicaid/Medicare problem. "Screw the Old" is like this administration's anthem anyway.