Monday, December 06, 2004

Bush: More debts to fund social security

The White House said today for the first time that President Bush's plan to add personal retirement accounts to Social Security would be financed in part by new government borrowing that could top $ 1.000.000.000.000. Or: 1 trillion. The federal budget deficit hit a record of $412 billion in the 2004 fiscal year that ended Sept. 30, and the Congressional Budget Office has projected $2.3 trillion in accumulated deficits over the next decade. Sounds promising, doesn't it?

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