In 2000, McCain touted a Social Security privatization scheme, not unlike the proposal Bush made in 2005. Eight years later, his campaign decided to go in a different direction. At least, that was the idea.
Sen. McCain’s 2008 presidential campaign Web site takes a different view, proposing “supplementing” the existing full Social Security system with personally managed accounts. Such accounts wouldn’t substitute for guaranteed payments, and they wouldn’t be financed by diverting a portion of Social Security payroll taxes.
Asked about the apparent change in position in the interview, Sen. McCain said he hadn’t made one. “I’m totally in favor of personal savings accounts,” he says. When reminded that his Web site says something different, he says he will change the Web site. (As of Sunday night, he hadn’t.) “As part of Social Security reform, I believe that private savings accounts are a part of it — along the lines that President Bush proposed.”
Oh my. It’s one thing for McCain to flip-flop from his position from 2000; that was eight years ago. But for the candidate to reject his own campaign’s policy position — after a year of campaigning — is just remarkable.
And for McCain to embrace Bush’s biggest domestic policy debacle is even harder to understand. Does the senator not remember the public’s reaction in 2005?
No Trackbacks To “McCain embraces Bush’s failed Social Security plan“
The quickest way to fix social security is to nationalize the debt. Our currency is worthless anyways so we have nothing to lose.
mccain is a sad joke. I’m not saying he can’t win cause the republiks are capable of anything….anything! But what a pathetic washed up politician.
He doesn’t even know who he is anymore.
Hulk @ 2:
Oh, yes he does. He’s #1 in the line of heirs to king george’s throne.
(Note: No capital letters)
But he added that the most potent economic stimulus would be to assure Americans that taxes won’t go up in the future and to “call for a meaningful — and I mean meaningful — approach to simplifying the tax code so that it’s fairer and flatter.”
What this really means is he won’t reverse the the Bush tax cuts to the rich.
Mr. McCain’s chief economic aide, Douglas Holtz-Eakin, a former head of the Congressional Budget Office, says economic circumstances forced changes concerning Social Security policy. Vast budget surpluses projected in 2000 evaporated with a recession, the Bush tax cuts and the cost of responding to Sept. 11.
He means the illegal invasion of Iraq based on lies and propaganda about Iraq/Al Qaeda connections and phony WMD info designed to scare the hell out of the American people. I do find it interesting that they admit the Bush tax cuts (to the rich!) helped devastate the surpluses and create a huge deficit.
This will go on for the foreseeable future, and the media will let him get away with it, further marginalizing themselves in the process.
I am looking forward to a day when these millionaire anchors suddenly find their ratings plummeting and themselves out of a job — and with NO DISCERNABLE SKILLS in the job market. These people are fucking useless.
McChange
I, too, am in favor of private savings accounts. Which is why I have one. And a retirement account, and a college plan for the kids. None of which required privatizing Social Security. If St. McCain is so in favor of savings, then why is he a Republican, the shop till you drop party?
My mother is the same age as McCain, and she can’t remember whether she turned off the stove.
See the results of the Bush-McCain Social Security Plan here:
http://www.youtube.com/watch?v=xVrAv2D1H0I
He plods through his speeches lugubriously, reminds me of that hound dog cartoon “Droopy”.
mcstain doesn’t have any actual policy or plans of his own so he just adopts whatever shrub’s owners tell him to. He couldn’t possibly be more of a political butt puppet. The only thing he’s missing is a hand up his ass. It’s there. You just can’t see it.
The fact that McCain is once again flip-flipping on an issue is pretty much a given. What gets me about his supposed plan(s) is, even if what they say about Social Security is true (I.E. its filled with I.O.U.’s to use Bush’s own words) these plans like the one McCain proposes will have little to no effect in the short term. Its simply to late for many baby boomers to start a private account because they have already beginning to retire. Even if they began today what could those private accounts for baby boomers produce? A thousand or if they push hard enough and the account is well managed maybe ten thousand dollars before they begin tapping into it?
These private accounts will work for younger generations but there to is pitfalls. For one, who is going to manage them and at what cost? If they are self managed then who is going to educate the participants? I mean, not everyone knows which bonds are best or how to trade in and out of a stock for example. They will probably need an entire Government agency just to field the questions, file the forms, get the accounts started on mass, etc. The costs overall will be staggering in my opinion.
Alabama Blue Dot @ 7:
Call them what they are: “Borrow and Spend Conservatives”
Here’s your T.V. Ad:
Hey, America.
Think about it.
12, maybe 16 years of Bush…
Is that what you really want?
background music: no no no no no no no no no no no no no more
Jay Severin Has a Small Pen1s @ 9:
HAHA … That was pretty funny. Thanks, goes well with tequila.
Interesting strategy — adopting the policies of highly unpopular president. The Dems should send McCain a thank-you note.
So he thinks running as Bush, third term, is a winning strategy?
Alabama Blue Dot @ 7:
I am like you. I took my own initiative and started my own private savings accounts and or brokerage accounts years ago and all of which I personally direct. I select and buy my own bonds, mutual funds, stocks, and the like and I learned how to do it myself.
I can only imagine the nightmare that will be produced if this private accounts idea comes to pass. I mean, what are they going to do? Assign every tax payer that pays into Social Security a account and PIN number and then just say: Here ya go *plop*! You figure it out! That simply is not going to work. They make the private accounts idea sound so simple but it come become very complicated very fast.
I didn’t realize McCain was the green candidate. He recycles. Everything. Poor ol’ senile bastard probably still thinks gas is a buck a gallon.
Shhhhhh shhhhhhhhhhh shhhhhhhhhhhhh dammit!!!
What’s the point of bringing this stuff up now? So Huckabee can take the nomination (we know that isn’t happening and would likely be a worse result than McCain)?
Seriously, hold this stuff. Let the media treat McCain like the golden boy and bring this stuff up when it’s too late - after the nomination. It’s effect will be greater than now which is nominal at best.
I heard Anderson Cooper go to commercial last night with something like “are the media too easy on Obama, we’ll answer that when we return?”. I could never NEVER fathom that question coming in regards to a Republican - especially McCain.
So, let them have their way (as they are wont to do anyway) and smile away at the McCain nomination and then destroy his pathetic ass in the general election. There’s no chance otherwise.
But I still predict he’ll be the next President. Until Democrats grow a serious pair (metaphorically speaking, of course) and actually fight back (dirty if need be - there’s no high road in endgame) maybe there’ll be some actual progress in this farce of a joke called American politics.
Joe O. @ 18:
Especially looking at the Stock-Market today. My portfolio is down by so much I have changed it from my homepage. It was just too much of a depressing thing to start off each day this past year and seeing the huge losses I have suffered. I can’t imagine my life now at 71 with just my investments, I’d be looking for tall building..
Jay Severin Has a Small Pen1s @ 13:
On of the big problems with repub governance is they never plan for failures so the consequences of their actions (which in their minds should be glorious) tend to have HUGE negative repercussions. For evidence I point to the last 7 years of American history.
Filthy Harry @ 22:
Sorry, forgot to say why I was linking to the comment above me. The point is that the ‘borrow and spend’ might work if their plans ever worked out. But when you borrow, and then your plan doesn’t work out, you’re screwed. Kinda like the American homeowner is finding out now as the result of another failed repub plan.
This old crazy crater head fraud has obviously promised the Bush administration a third term. McCain has zero principles and will say or do anything to win….just like Hillary.
Bangkok Bob @ 15:
Priceless.
I don’t think McCrazy can remember what he ate for dinner last night let alone what his “policies” were a year ago!
Left&Left @ 24:
No matter what they do or say, they’ll never win without
cheatingDiebold.Bangkok Bob @ 21:
I agree. Everyday my portfolio at the end of the day looks like it went 15 rounds with a heavy weight fighter and lost. Nothing but red. On a positive note though, my commodities (I.E. gold and silver ETFs and funds) are breaking 52 week highs so that off sets some of my losses. To think that only a couple of years ago my uncles that are big shot stock brokers for some high up firms like Morgan Stanley were laughing at me when I told them I was buying into gold and silver ETFs and funds. They said: “You don’t know what your doing! Those choices won’t make you any money. We are the professionals and you should take our advice instead.” Thus far, looks like I am having the last laugh. Har har. Needless to say, those uncles that are stock brokers are all die hard Bush supporters as well.
Libertina @ 8:
Exactly. As someone was saying yesterday, did you ever call your Grampa at 3 o’clock in the morning in an emergency and spend five minutes trying to make him understand who you are?
Repugs and the MSM give the senile old fart a pass cause we all have a senior citizen around. Mostly standing in the kitchen asking that important question,”What did I come in here for?”
CheneyIsADick @ 27:
Keep your eye on voting irregularities today. It will be obvious. Anybody getting the impression that the money people would like nothing better than McCain OR Hillary? They sound alike. They both attack Obama. They both have “respect” for each other. And according to Hillary, they are the only two “experienced” candidates. Any intelligent loyal Dem party member that votes for her after that little speech, should be barred from voting in the federal election. I don’t recall ever hearing a party member pointing out that their opposition party candidate was more qualified than the guy running against for party leader. Exactly what party does Hillary belong to again?
One more time. The Clintons do not care about the party or the people. The Clintons care about the Clintons.
McPuppet (one old dirty sock)
McCrepit’s Thesaurus:
1. (adj.) Withered, wasted away, or worn out, as by age, illness, or hard use:
• wizened
• shriveled
• shriveled up
• atrophied
• gnarled
• shrunken
• washed-out
• wrinkled
• fresh
2. (adj.) In a state of disrepair or decay:
• dilapidated
• broken-down (colloquial)
• crumbly
• deteriorated
• disintegrated
• ramshackle
• rotten
• shabby
• shot (US)
• tumbledown
• decayed
• rundown
3. (adj.) Shabby; squalid:
• dingy
• crummy
• flea-bitten
• lousy
• miserable
• poor
• poverty-stricken
• ramshackle
• seamy
• seedy
• slummy
• wretched
• sleazy
4. (adj.) Fallen into a state of disrepair; broken-down:
• inoperative
• dilapidated
• run-down
• deteriorated
• in bad shape
• worn out
Hmmm, who would benefit from these privatized accounts?
Retirees? Unlikely, given the general inability of most ‘Mericans to even balance their checkbooks. Or save. Or choose a home loan that won’t result in foreclosure. Or, ad nauseam…
Let’s see then, would Wall Street benefit? Why, yes, yes they would. A fresh batch of capital to transfer from the poor to the rich.
As if there was any doubt, and there wasn’t, it’s patently clear that McCain is a wholly owned (or is that pwned) subsidiary of BushCo.
The latest Canadian federal budget is based on this same claptrap. Similar to RRSP’s except it’s a savings account that is a tax write off of up to 5000/year. You can withdraw the money at any time without penalty, etc, etc, etc,…….pure BS just like the RRSP scam. There will be a tax the living shit out of them loophole in there somewhere just like RRSP’s.
Getting paid to read C&L’s is one thing but, the Bible! How dare he.
I still see nothing about Hillary’s extended campaign commercial on teh Daily Show last night? Why is that?
SassySandy @ 32:
True.
And McCain cares about whatever is the last thing he can remember.
He’s Bush without the alcohol blackout.
let’s understand something people…..Social Security was never been meant to be a retirement fund….it was meant to be a social safety net to help the elderly keep out of poverty…….if you want retirement you have 401Ks and IRAs….now whether or nor you conttribute or can afford to contribute is another matter……Social Security can be easily “fixed” but no one wants to do as John Edwards, Hillary and Obama have proposed…raise the maximum taxable wage base on wage earners above $200,000 per annum…..this supposed to be a democracy…….we are supposed to be a “WE” nation, or so it says in our Declaration of Independence…..but for the last 25 years we have been a “ME” country…..
[Deleted. Off topic-Sitemonitor]
Bangkok Bob @ 10:
Hey! That’s an insult to Droopy. Droopy was pretty sharp… slow, but sharp. That and he always got the hot-looking babe at the end.
Joe O. @ 18:
We are talking about general population that accrued massive credit card debt, lacked the inability to see through the fine print of an adjustable mortgage rate policy, and laugh at Larry the Cable Guy jokes. We’re supposed to think that the masses can handle their own Social Security? They’ll just buy bigger TVs and four-wheelers.