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SCHIEFFER: Let me just stay on Social Security with a new question for Senator Kerry, because, Senator Kerry, you have just said you will not cut benefits.
Alan Greenspan, the chairman of the Federal Reserve, says there's no way that Social Security can pay retirees what we have promised them unless we recalibrate.
What he's suggesting, we're going to cut benefits or we're going to have to raise the retirement age. We may have to take some other reform. But if you've just said, you've promised no changes, does that mean you're just going to leave this as a problem, another problem for our children to solve?
KERRY: Not at all. Absolutely not, Bob. This is the same thing we heard � remember, I appeared on Meet the Press with Tim Russert in 1990-something. We heard the same thing. We fixed it.
In fact, we put together a $5.6 trillion surplus in the '90s that was for the purpose of saving Social Security. If you take the tax cut that the president of the United States has given � President Bush gave to Americans in the top 1 percent of America � just that tax cut that went to the top 1 percent of America would have saved Social Security until the year 2075.
The president decided to give it to the wealthiest Americans in a tax cut. Now, Alan Greenspan, who I think has done a terrific job in monetary policy, supports the president's tax cut. I don't. I support it for the middle class, not that part of it that goes to people earning more than $200,000 a year.
And when I roll it back and we invest in the things that I have talked about to move our economy, we're going to grow sufficiently, it would begin to cut the deficit in half, and we get back to where we were at the end of the 1990s when we balanced the budget and paid down the debt of this country.
Now, we can do that.
Now, if later on after a period of time we find that Social Security is in trouble, we'll pull together the top experts of the country. We'll do exactly what we did it he 1990s. And we'll make whatever adjustment is necessary.
But the first and most important thing is to start creating jobs in America. The jobs the president is creating pay $9,000 less than the jobs that we're losing. And this is the first president in 72 years to preside over an economy in America that has lost jobs, 1.6 million jobs.
Eleven other presidents � six Democrats and five Republicans � had wars, had recessions, had great difficulties; none of them lost jobs the way this president has.
I have a plan to put America back to work. And if we're fiscally responsible and put America back to work, we're going to fix Social Security.
SCHIEFFER: Mr. President?
BUSH: He forgot to tell you he voted to tax Social Security benefits more than one time. I didn't hear any plan to fix Social Security. I heard more of the same.
He talks about middle-class tax cuts. That's exactly where the tax cuts went. Most of the tax cuts went to low- and middle-income Americans. And now the tax code is more fair. Twenty percent of the upper-income people pay about 80 percent of the taxes in America today because of how we structured the tax cuts. People listening out there know the benefits of the tax cuts we passed. If you have a child, you got tax relief. If you're married, you got tax relief. If you pay any tax at all, you got tax relief. All of which was opposed by my opponent.
And the tax relief was important to spur consumption and investment to get us out of this recession.
People need to remember: Six months prior to my arrival, the stock market started to go down. And it was one of the largest declines in our history. And then we had a recession and we got attacked, which cost us 1 million jobs.
But we acted. I led the Congress. We passed tax relief. And now this economy is growing. We added 1.9 million new jobs over the last 13 months.
Sure, there's more work to do. But the way to make sure our economy grows is not to raise taxes on small-business owners. It's not to increase the scope of the federal government. It's to make sure we have fiscal sanity and keep taxes low.
Originally posted by Otts
WHY?
economy
Excess regulation and government spending destroy jobs and increase unemployment. Every regulator we fire results in the creation of over 150 new jobs, enough to hire the ex-regulator, the unemployed, and the able-bodied poor.
Have you lost your job to downsizing or corporate mergers? Are you fearful that you might? If so, you won't want to vote for the Democrats or Republicans this November.
Establishment politicians think that larger, more elaborate government jobs programs are the solution to your problems. However, since these programs must be funded by taking money from the private sector, even more jobs are destroyed�more jobs than the government programs can ever create.
Establishment politicians don't have solutions that work in the real world because they aren't asking the tough question: "Why are jobs becoming scarce? Why do we have so much downsizing and so many corporate mergers?"
The answer is too much regulation and too much government spending. In the 1980s, the number of federal regulators fell from about 122,000 to barely 100,000. The private sector added 3,500,000 jobs as a consequence. The loss of each federal regulator resulted in the creation of more than 150 new jobs, enough to hire the ex-regulator, most of the unemployed, and some of the able-bodied poor. The nation prospered!
Health Care Scary
(poor doctors)
Health care and insurance costs will plummet if excess regulation is eliminated and malpractice awards are made only on the basis of real damages caused by real negligence. Lower costs, along with the savings from downsizing regulatory bureaucracy, will fund tax credits for those who establish Health Savings Accounts for themselves, their families, Medicare/Medicaid recipients, and the needy.
Health care costs are soaring. Health insurance premiums reflect these increases, making coverage unaffordable, for both individuals and businesses. If these trends continue, few people will have access to state-of-the-art health care.
Establishment politicians don't have a solution to the health care crisis. They simply propose a variety of cost-shifting measures which are doomed to fail. As the "baby boomers" age, their medical needs will dwarf the capacity of the next generation to pay for them. Health care rationing will be the inevitable result, as Canada, Britain, and other nations that have turned to tax-supported "universal care" are discovering. While these nations are turning toward market-based reforms to save themselves, our politicians seemed determined to repeat their mistakes.
Establishment politicians can't solve the health care crisis because they aren't asking the tough question: "Why are health care costs so high in the first place? What can be done to lower them without causing rationing or the loss of life-saving innovations? How can we make health care universally affordable?"
Costs are high because of the excessive regulation in virtually every aspect of health care. In the companion paper "How to Slash Pharmaceutical Prices Virtually Overnight," I explain how excess regulation has driven up the cost of new drugs. As a consequence, less than half of new pharmaceutical discoveries can be developed.
Fewer new drugs translate into higher health care costs. Even at the inflated prices that new drugs command, every dollar spent to buy them saves about $3 in hospitalizations and lost time. For example, people with ulcers used to pay $28,000 for surgery and were unable to work for weeks. The introduction of Tagametr allowed ulcer patients to stay on the job, while spending only $1,000-$3,000 on medication. One of the easiest ways to lower health care costs is to get rid of excess regulation of the pharmaceutical industry.
In addition, excess regulation drives up the cost of training physicians, who must then raise their fees accordingly. Just as the high cost of pharmaceutical regulation results in fewer medications, the high cost of gaining a medical license means fewer doctors, so patients must often wait weeks for an appointment. The regulations governing medical schools have resulted in homogenized training of physicians, which often neglects cost-saving approaches such as disease prevention, nutrition, and alternative therapies.
Government-mandated red tape increases the paperwork burden for physicians and their staff. Medicare and Medicaid come with an additional layer of busy work for over-extended physicians, with criminal penalties for clerical mistakes. More and more doctors are refusing to treat patients with government "insurance" to avoid the red tape, late payments, and poor compensation that have become a hallmark of these programs.
Courts today often impose malpractice penalties on physicians who have done nothing wrong so that patients can access the "deep pockets" of insurers. The result has been skyrocketing premiums for doctors, driving up prices and causing many practitioners to abandon high-risk specialties such as obstetrics.
If you elect me as your president, I will end excess regulation of pharmaceuticals, health care providers, and insurance companies. Physicians will be held liable for malpractice, but not for problems beyond their control. Health care costs will plummet.
Taxpayers will save as much as they are now spending on Medicare/Medicaid when they no longer have to fund this destructive bureaucracy. Tax credits can then be extended to any person or organization funding Health Savings Accounts for themselves or others. With such tax incentives to aid in charitable gifting, Medicare or Medicaid recipients can transition into their choice of private health insurance, allowing rapid privatization of these programs.
With such reforms, health care costs will be almost universally affordable. Generous tax credits, made possible by downsizing the regulatory bureaucracy, will spur charitable donors to take care of the medically needy.
Originally posted by BlackJackal
Say what you want to about Bush but there has not been another attack on American soil since 9/11 and I feel safer with him in office.
When I said earlier I was serious I was not kidding. I don't want my kids to die so I will do what I must to protect them, whether I want to or not. If that means moving to another country so be it.
Originally posted by slank
John F. Kerry also closed with some real inspiration. Talked about the future like he believed in it.
Originally posted by Rain King
Moving out of the country just because your candidate isn't elected is the equivelant of quitting a basketball game because you aren't winning. It is childish to even suggest.
Originally posted by Rain King
Which is quite sad, because Bush SHOULD be reelected. His chances are much slimmer after these debates.