From Volume 3, Issue Number 52 of EIR Online, Published Dec. 28, 2004

BUSH ECONOMIC SUMMIT TARGETS SOCIAL SECURITY
by William Jones

Dec. 20 (EIRNS)—The White House Economic Summit on Dec. 15-16, which had been announced as the President's effort to "get input" into a proposal for eliminating Social Security and introducing drastic austerity cuts, was basically Snake-Oil Salesman Bush's Travelling Road Show. Just like Dr. Feelgood, to convince the public his dope will cure what ails you, Bush had the crowd salted with shills to sing the praises of his snake-oil.

Such was the Economic Summit. Several panels of "experts" and business people were to discuss the items the President had targetted for elimination, the most important being Social Security. On each panel, a member of the Cabinet—at times, the President himself—was present to listen and ask questions.

But, lo and behold, the panels consisted solely of people who passionately support the President's program. Even those put on panels to lend a populist tint were seriously compromised politically. Take Sandy Jaques, portrayed as "a single mother from Iowa." Jaques pleaded that, if "private accounts" were introduced for Social Security, she could pass hers on to her daughter. After hearing her appeal, Bush declared: "One of my visions of personal acccounts is that Sandy will be able to pass her account on to Wynter as part of Wynter's capacity to retire as well."

In fact, Jaques is so concerned about the issue that she has set up a national organization, For Our Grandchildren, to push the Bush privatization plan nationwide. In addition, she has long been active in Citizens for a Sound Economy, a Republican anti-Social Security group, served as head of the Kemp for President campaign in Iowa, and was active in FreedomWorks, a conservative advocacy groups set up by Kemp and Dick Armey, the former House Majority Leader. Not your ordinary "single mom."

For "bipartisanship," the summit did have one Democrat on the panel, former Congressman Tim Penny, who had served in Congress as a member of the Democratic Farmer-Labor Party (the name of the party in Minnesota). But Penny's always been something of a queer bird, and always characterized himself as an "austerity Democrat." He never saw a penny he didn't want to pinch.

The whole affair was so phony that a snicker ran through the press corps when Treasury Secretary John Snow, all earnestness, asked the panelists if they really thought the Bush tax cuts should be made permanent. Naturally, the answer was affirmative for all.

Speaking at the conclusion of the summit, Snake-Oil Salesman Bush assured his listeners he would move forward as they had indicated with a draconian policy that would include transforming the Social Security system. This would involve cutting all non-defense items to bring down the deficit, eliminating many regulatory mechanisms now in place (after the FDA fumble on Vioxx?), restricting the rights of consumers to bring class-action lawsuits against corporations, revamping the Medicare and Medicaid programs, and eliminating the guarantee of a stable retirement that has been given Americans over the last 70 years by Social Security.

While assuring the elderly that they would not be deprived of Social Security, President Bush indicated that for younger workers, he would try to introduce private accounts for their retirement savings, with all the risk that that entails, so they would become part of his much-touted "ownership society." While artfully fuzzy about the details of his plan (aware that changing the Social Security structure has long been thought the "third rail" of American politics), Bush is intent on proceeding. He tried to make light of the political risks involved, saying, with a smirk on his lips, "I will also assure members of Congress that this is an issue on which I campaigned and I'm still standing." This, from a President who lied during the campaign, and denied that he was going to privatize Social Security!

There are signs of fight from Democrats, and the mobilization by the LaRouche movement, ready to hit Congress to expose the fascist nature of this "Chile Model" of Social Security privatization, will hold our legislators' toes to the fire.

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