In 2006, Congressional Democrats wildly cheered their obstruction of Social Security reform at President Bush's State of the Union Address...
That was 3 years ago.
Yesterday, U.S. Rep. Spencer Bachus predicted, “Social Security could face default within two years.”
Tuscaloosa News reported, via Drudge:“Social Security could face default within two years,” U.S. Rep. Spencer Bachus predicted here Tuesday. “The situation is much worse than people realize, especially because of the problems brought on by the recession, near depression."
“That’s not been on the board — people don’t seem to know that,” Bachus, the ranking member of the House Committee on Financial Services, said in a wide-ranging interview with the Tuscaloosa News Editorial Board. “What this recession has done to Social Security is pretty alarming."“We’ve known for 15 years that we were going to have to make adjustment to Social Security, but we still thought that was seven or eight years down the road,” he said. “But if things don’t improve very quickly, we’re going to be dealing with that problem before we know it.”
By the way, it is the Democrats who have controlled Congress since that speech. It is the Democrats who have led the biggest spending binge in the history of the world over the past few months. It is the Democrats who are still -- STILL -- refusing to cut spending in order to start doing something useful on these entitlement programs. Republicans have been trying to reform entitlement spending for several years now, but the Democrats have blocked every attempt.
Decades of irresponsible governing from both parties put us into a hole...but it is Obama and today's Democrat party who have dropped a nuclear drill bit into that hole and blown through to the other side of the planet. Only one side realized something needed to change, and it wasn't the Democrats. When the pain of this runaway spending really starts flowing...just remember who did what.
There's my two cents.
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