Word: memos
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...Republicans believe they can change how Americans see every question from free trade to capital gains--tax cuts. "If we succeed in reforming Social Security, it will rank as one of the most significant conservative governing achievements ever," Bush's strategic-initiatives director Peter Wehner wrote in a private memo to Republican allies two weeks ago. "The scope and scale of this endeavor are hard to overestimate...
What about Bush's proposed individual accounts? On their own, they do nothing to solve Social Security's funding problems. Even the White House admits as much. Personal retirement accounts, "for all their virtues, are insufficient to that task," Wehner wrote in his memo. There's also an inconvenient fact that Bush rarely mentions: if workers start investing payroll taxes in individual accounts, the government will need another source to cover benefits for retirees--as much as $2 trillion by some estimates. The options are grim: borrowing heavily, cutting benefits or both. While Bush has not spelled...
Goldin, who herself prepared a memo Summers cited in his speech Friday, said the president “had mountains of research” on the subject, although he spoke extemporaneously...
...troops in Iraq. Those part-time forces represent 40% of the current U.S. troop strength in Iraq and will grow to 50% in coming months. There were about 160,000 National Guard and Army reservists on active duty last week, including 60,000 inside Iraq. In a Dec. 20 memo published in the Baltimore Sun last week, Lieut. General James Helmly, chief of the Army Reserve, warned that the wars in Iraq and Afghanistan have put in "grave danger" his force's ability to fulfill other Pentagon missions or help grapple with domestic emergencies. "I do not wish to sound...
...from deployment because they have hit the 24-month ceiling--or offered them a $1,000 monthly tax-free bonus to waive the rule. That money upsets Helmly. "We must consider the point at which we confuse 'volunteer to become an American soldier' with 'mercenary,'" he wrote in his memo. In light of the force crunch, the Army is weighing a change that could compel repeated deployments, of up to 24 months each, for some part-time soldiers...