Thursday, August 04, 2005

I wish I had gotten a lockbox

Bush, yesterday:
And by the way, it is a pay-as-you-go system. Some people think it's a trust fund. The trust fund concept means we take your money, we hold it and we give it back to you. No, this isn't the way it is. It is a pay-as-you-go -- you pay, we go ahead and spend. (Laughter.) You pay, we pay -- you pay your payroll taxes, and we go ahead and pay for the benefits. And with money left over, we fund federal programs...

So my first question to members of Congress is, how can you go back to your districts, when you look at the facts, and stand up in front of young workers and look them in the eye and say, man, the future is bright for you, knowing full well somebody is going to be paying payroll taxes into the system that's going broke?
Today in the WaPo:
Having skirted budget restraints and approved nearly $300 billion in new spending and tax breaks before leaving town, Republican lawmakers are now determined to claim full credit for the congressional spending. Far from shying away from their accomplishments, lawmakers are embracing the pork, including graffiti eradication in the Bronx, $277 million in road projects for Speaker J. Dennis Hastert (R-Ill.), and a $200,000 deer-avoidance system in New York...

When lawmakers return in the fall, they are almost certain to vote for more tax cuts. They also will vote on a huge new defense spending bill...

"If you look at fiscal conservatism these days, it's in a sorry state," said Rep. Jeff Flake (R-Ariz.), one of only eight House members to vote against the $286.5 billion transportation bill that was passed the day before the recess. "Republicans don't even pretend anymore."


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