Thursday, April 07, 2005

 

Pelosi and DeFazio, fighting back

Sorry for my absense... Hopefully I can be a bit more attentive in the future.

But I saw a couple examples of some good Democratic fight that I wanted to highlight. First, Nancy Pelosi had a few choice words for our President:
So where does he borrow? He borrows from the Chinese. He borrows from the Japanese. He borrows from the trust fund. And what he is saying now to the American worker: "We will honor our debt to the Chinese and the Japanese, but we are treating you differently. We are not honoring our debt to you." These are funds that workers and their employers put in the account to have a trust fund to cover any shortfall that would be there to cover their retirement benefits. And this President is openly declaring that he has no intention of paying the trust fund back what he has taken from it.
And Congressman DeFazio had some of his own:
But the President did say today something extraordinary, in Parkersburg, West Virginia, and suggested something unconscionable. The President said, ``There is no trust fund.'' And then he went on to suggest that our Nation might not honor its debt to Social Security. This is what the President said does not exist.
[...]
Are we going to repay the Chinese but not the Social Security Trust Fund? Are we going to repay President Bush, he happens to have some U.S. Treasury Bonds in his personal portfolio, but not the Social Security Trust Fund? Are we going to repay other wealthy investors around the world and in the U.S., but not the Social Security Trust Fund? We are going to selectively default on our debt.

Suggesting something like that, if the bond markets believed the President, the dollar would drop to near zero tomorrow, and there would be an economic catastrophe, but they do not believe him. They know this is just politics and rhetoric on his part. There is no intention of the Government of the United States defaulting on its debt.
Bush's statements seem to be more and more indicative that the Republican plan for Social Security is about phasing it out, not saving it. Here's hoping that Pelosi and DeFazio aren't the only one's who'll blast them for that.

# posted by Dylan @ 12:54 AM
Comments:
Bush's comments are in fact, treasonous.

In the Constitution, it states that it is treason to doubt the public debt of the US.
# posted by Anonymous Anonymous : 6:18 PM
 
"In the Constitution, it states that it is treason to doubt the public debt of the US."

Article? Section?
# posted by Anonymous Anonymous : 8:56 AM
 
The 14th Amendment clearly states: “The validity of the public debt of the United States, authorized by law . . . shall not be questioned.”

from John Conyers' blog- http://www.conyersblog.us/archives/00000051.htm
# posted by Anonymous Anonymous : 3:15 PM
 
This comment has been removed by a blog administrator.
# posted by Blogger kevenvision : 12:20 AM
 
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