Monday, February 07, 2005

I heard he flunked gym, too.

Atrios makes a great catch with this excerpt from the President explaining his Social Security program in Florida (all emphasis added)
Because the -- all which is on the table begins to address the big cost drivers. For example, how benefits are calculate, 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 what 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.

Okay, better? I'll keep working on it

So, he doesn’t know anything about economics. Or history:
We've seen a remarkable, remarkable series of events when you think about it. In a very brief period of time, Afghanistan became a democracy, people were able to vote for a President of that country -- they tell me,for the first time in 5,000 years. Millions of people showed up at the polls. The first voter was a woman who was not allowed to participate in democracy during the Taliban. (Applause.) And that's important for our children and grandchildren. The fact that Afghanistan is free sets a powerful example in a part of the world that is in need for powerful examples of a free society.

Or what century it is:

So, to give you an example, in 2027, the system will be $200 billion short. In other words, they collect X amount of payroll taxes, but because baby boomers like me are living longer and have been promised greater benefits, we're $200 billion short that year -- that year. And the next year is bigger than $200 billion. In 3037 [sic}, it's like $300 billion. And finally in -- 2037, it's $300 billion. In 2042, it's bust. Those are the facts.

Or language:
Jennifer. Jennifer has got the hardest job in America. She's a single mom.
MS. LALANI: Well, thank you. (Applause.) Thank you.
THE PRESIDENT: All right, Jennifer, what do you do?
MS LALANI: What do I do? Besides raising my two lovely children, which again -- like you said, it is the hardest job, the most challenging job, but the job I really truly lve -- I'm actually a pharmacist. And I currently work for a major chain. And what I do is I manage 30 of their stores.
THE PRESIDENT: So you're a manager?
MS. LALANI: Yes, so being a mom was a great training ground for a corporate job. (Laughter.) It taught me about multi-tasking.
THE PRESIDENT: Very good. Nice long word, multi-tasking. Very good. (Laughter.) Inject a little intellectual strength here in this conversation.
MS. LALANI: Yes, there you go. Corporate talk.
THE PRESIDENT: That's right. It is. All right, tell me what your concerns are on the Social Security plan.

Or irony:
Q Hi, I'm a high school student. I'm just wondering is there anything I can to prepare for this new Social Security reform when I grow up?
THE PRESIDENT: Yes, it is. That's a good question. You know, one of the issues is financial literacy, is to pay attention to what it means, how stocks and bonds work, compounding rate of interest. That's a very good question. A lot of people, when you say, the interest grows at a certain -- over time at a certain rate, people are not really sure what we're talking about.

Was there an affirmative action program for buffoons at Yale?


Post a Comment

<< Home