Tuesday, January 18, 2005

The fake crisis

I adore Rolling Stone magazine for their coverage of music and entertainment as a whole. Though over the past year or two I have come to respect and trust their political coverage, too.

The article in this issue pertains to Bush's plans to dismantle and privatize social security and, in the process, borrow $3 trillion to shore up the program while those who were without the option of private funds wile away their golden years as the last senior citizens in America to live without being in poverty.

Sure, the idea of being in total control of your retirement investments is a novel on but the fact that the economy is projected to grow more slowly at the rate of 1.8% in the near future for quite some time means that invested monies will not gain nearly as much as the government has projected. Factor in portfolio management fees of 1% and the margin of gain becomes noticeably smaller. The question then becomes how to repay the $3 trillion in borrowed funds. Increase taxes, of course. But not for the rich, remember Bush wants to make his tax relief to the rich a permanent thing which will cost the U.S taxpayers (middle & lower class citizens) another $1 trillion. Now the total lies at $4 trillion.

Imagine the damage that will have been done if these two items get plowed through the republican majority. In his next Warren Harding-esque act of dismantling any resemblance of government care of its citizens (citizens who, coincidentally, pay the wages of those who are slashing their very own aid programs) Bush may aim to dismantle Medicare and Medicaid. Just what America needs, millions more uninsured poor and middle class who are imediately at the mercy of corporate insurance companies who are in the business of driving up costs for increased profits while insuring and protecting fewer and fewer each year who desperately need medical care.

If either of these pieces of legislation receive even the slightest bit of consideration, America would surely be in a crisis. Remember, the same people who contributed millions and millions to Bush's campaign efforts (insurance executives and investment brokers) stand to profit immensely from these hot-button issues.

It's time to stand up, America. Let your senators and representavies know that you are against these issues. Let them know how they vote will reflect how you vote when it comes time for their re-election. After all, a vote for someone supporting these issues is a vote for your own poverty.

No comments: