Friday Cat Blogging

Okay, so it isn't Friday, but this is my kitty. And getting this picture only took a couple of minutes! Sorry about the quality, but I'm dealing with a little webcam.

Happy New Year 2005

Ford Issues Non-Denial of Social Security Destruction

Talking Points Memo

According to Josh Marshall, Harold Ford has issued a new statement on the Social Security mess he finds himself in:

I do not support changing the Social Security system as has been proposed by President Bush, nor do I support Social Security proposals advanced by the CATO Institute. In fact, both of these proposals have the potential to harm current beneficiaries by paying for the transition costs by issuing debt. Piling on more red ink to the existing federal budget deficit and the national debt will do both long and short term harm to our economy. I do believe that the system needs to be reformed but I do not support changing the Social Security system as President Bush has proposed.
Wow, that was a turn-around!

Or was it? Ford tells us the reason that he doesn't support Bush's proposal or the CATO Institute's proposal: transition costs. Which is exactly his problem in the article quoted below. In this non-denial, he clearly states "I do believe that the system needs to be reformed," which means cut it to pieces, let Wall Street stay warm on the administrative fees, and damn the people who lose their shirts in the stock market.

It doesn't matter, Mr. Ford, that you don't support Bush's plan to kill Social Security. It doesn't matter that you don't support CATO's plan to kill Social Security. You still are working to eliminate the universal guarantee of benefits. You're still in favor of destroying it.

Shame on you.