Friday :: Mar 17, 2006

GOP Incumbent Senators: $1 Trillion For Iraq, But Not For Social Security

by Steve

Why would eight GOP senators up for reelection this year be willing to take $1 trillion from Social Security, while having no problem giving that amount for the Iraq war? As Dave Weigel over at Daily Kos noted yesterday, Senator Jim DeMint’s amendment to the budget bill would have directed the Social Security trust fund surpluses towards the establishment of private accounts. This piece of irresponsibility actually got 46 votes yesterday.

What’s the total cost of DeMint’s amendment? The amendment would drain at least $1.1 trillion from Social Security in just the first ten years, and would push up the system’s insolvency by at least three years. This doesn’t include what such transfers would do to the federal budget, when these trust fund surpluses would no longer be available to mask Bush’s true annual deficits and would have to be made up with large tax increases or large-scale budget cuts to domestic and defense programs.

There is now open discussion that the total costs of the Iraq war will exceed $1 trillion dollars, and the CBO estimates that we are spending $6 billion a month or $200 million a day on Iraq. That’s right: $6 billion a month, or $200 million a day. The GOP senators up for reelection this year have blindly voted to fund this war.

And who are they?

George Allen
Mike DeWine
John Ensign
Orrin Hatch
Kay Bailey Hutchison
John Kyl
Trent Lott
Rick Santorum

Let’s see these folks explain why Iraq is worth $1 trillion, but Social Security isn’t.

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Steve :: 4:44 PM :: Comments (23) :: TrackBack (0) :: Digg It!