I could not make this up. I will let you read for yourself the comments made by our President. It was in response to a question following a speech in Tampa, Florida on February 4, 2005. A woman in the audience asked:
Q: I don't really understand. How is the new [Social Security] plan going to fix that problem?
PRESIDENT BUSH: Because the -- all which is on the table begins to address the big cost drivers. For example, how benefits are calculated, for example, is on the table. Whether or not benefits rise based upon wage increases or price increases. There's a series of parts of the formula that are being considered. And when you couple that, those different cost drivers, affecting those -- changing those with personal accounts, the idea is to get what has been promised more likely to be -- or closer delivered to that has been promised. Does that make any sense to you? It's kind of muddled.
Look, there's a series of things that cause the -- like, for example, benefits are calculated based upon the increase of wages, as opposed to the increase of prices. Some have suggested that we calculate -- the benefits will rise based upon inflation, as opposed to wage increases.
There is a reform that would help solve the red if that were put into effect. In other words,
how fast benefits grow, how fast the promised benefits grow, if those -- if that growth is affected,it will help on the red.
I am proud to say that I once read 50 pages of James Joyce's Ulysses so I can understand just about anything written in the English language. But I have no clue what he is saying. Which wouldn't be so bad if he wasn't the leader of the free world! Lord have mercy!