Sunday, February 06, 2005

Cheney Says Many Trillions to be Borrowed for Bush Plan

Excerpts from a Reuters story this evening, via MSNBC....

"Cheney eyes new borrowing for private accounts.... Vice president says ‘trillions more’ will be needed in future years"
Reuters Updated: 7:06 p.m. ET Feb. 6, 2005

"WASHINGTON - Vice President Dick Cheney Sunday acknowledged trillions of dollars in future borrowing may be needed to cover the cost of private retirement accounts under President Bush’s plan to retool the Social Security system.....

Asked about estimates that trillions of dollars in additional borrowing would be needed in subsequent decades, Cheney said: 'That’s right. Trillions more after that.' ...."

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