Knightskye
09-27-2009, 06:04 PM
http://newsbusters.org/blogs/noel-sheppard/2009/09/27/social-security-deficit-next-year-ap-unconcerned
Bush made a speech to Congress and talked about the looming danger of Social Security going bankrupt.
PRESIDENT GEORGE W. BUSH: We must also confront the larger challenge of mandatory spending, or entitlements.
This year, the first of about 78 million baby boomers turns 60, including two of my dad's favorite people: me and President Clinton.
(LAUGHTER)
(APPLAUSE)
This milestone is more than a personal crisis.
(LAUGHTER)
It is a national challenge.
The retirement of the baby boom generation will put unprecedented strains on the federal government. By 2030, spending for Social Security, Medicare and Medicaid alone will be almost 60 percent of the entire federal budget. And that will present future Congresses with impossible choices: staggering tax increases, immense deficits or deep cuts in every category of spending.
Congress did not act last year on my proposal to save Social Security...
(APPLAUSE)
... yet the rising cost of entitlements is a problem that is not going away.
If you go to the article and scroll down the page, they have a picture of the audience, with then-Senator Obama standing up and applauding.
Maybe he just disagreed with the proposal.
Bush made a speech to Congress and talked about the looming danger of Social Security going bankrupt.
PRESIDENT GEORGE W. BUSH: We must also confront the larger challenge of mandatory spending, or entitlements.
This year, the first of about 78 million baby boomers turns 60, including two of my dad's favorite people: me and President Clinton.
(LAUGHTER)
(APPLAUSE)
This milestone is more than a personal crisis.
(LAUGHTER)
It is a national challenge.
The retirement of the baby boom generation will put unprecedented strains on the federal government. By 2030, spending for Social Security, Medicare and Medicaid alone will be almost 60 percent of the entire federal budget. And that will present future Congresses with impossible choices: staggering tax increases, immense deficits or deep cuts in every category of spending.
Congress did not act last year on my proposal to save Social Security...
(APPLAUSE)
... yet the rising cost of entitlements is a problem that is not going away.
If you go to the article and scroll down the page, they have a picture of the audience, with then-Senator Obama standing up and applauding.
Maybe he just disagreed with the proposal.