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February 27, 2005

Phasing Out Social Security

Joshua Micah Marshall reports:

Talking Points Memo: by Joshua Micah Marshall: February 27, 2005 - March 05, 2005 Archives: Longview (Texas) News-Journal, Feb. 26th: 'Former U.S. House Majority Leader Dick Armey said Friday that Social Security should be phased out rather than saved.' So there it is. Not only does Armey think Social Security should be 'phased out', he believes, as he is quoted as saying in the article, that the eventual effect of the Bush plan will be phase-out. (Read the whole article, which gives the context, but the exact quote in which he used this phase is when he says that: 'I think if you leave people free to choose, it will be phased out by competition.' This of course is another way of saying that if you let people pull their payroll taxes out of Social Security it will eventually cripple the program.)

Now, in case folks need a precise flow-chart of how to work this, Dick Armey is the head of FreedomWorks. And FreedomWorks is one of the three or four major groups funding and organizing the push for President Bush's privatization plan.

So the head of one of the main groups funded the PR blitz for President Bush's privatization plan says Social Security should be 'phased out' and that the eventual effect of the Bush plan will be phase out...

Posted by DeLong at February 27, 2005 01:42 PM