Baboon-a-palooza: Mega-Lying In Ohio

From Holden:

Chimpy took his Social Security demolition derby to Ohio today, where he once again denied that Treasury Bonds are backed by the full faith and credit of the United States of America

It’s a pay-as-you-go system, by the way. That means, when the money goes in, it comes right out. It’s not a trust.

[And later.. ]

By the way, I went to West Virginia the other day and saw the asset base of the so-called Social Security trust: You know what, it was about four or five file cabinets full of paper. (Laughter.) It was the IOU left behind from one hand of government to the other hand of government.

Yes, we all know what the faith-based president expected to see in West Virginia.

But today’s event was Baboon-a-palooza with a twist. For one thing, the Bush assministration is no longer pretending that everyone is welcome to the “conversation”. Today’s event was by invitation only, with tickets distributed by the local Chamber of Commerce instead of members of Congress.

And there was no “conversation” with local yokels, either. Today the Chimpster sat at a table with members of the Ohio Public Employees Retirement System to highlight a program that he’s trying to pass off as similar to the “plan” he has not quite gotten around to proposing.

There’s one problem with that: the Ohio Public Employees Retirement System (PERS) differs from the president’s yet-to-be-proposed plan in one important detail.

“There’s no risk in the PERS plan, and the president’s plan exposes people to risk of loss in the market,” said U.S. Rep. Dennis Kucinich.

[snip]

Even when the system lost money because of its investments in Enron, the traditional plan delivered its pension benefits, said board member Barbara Thomas.

“You have a built-in guarantee,” said Thomas, who is also an East Cleveland councilwoman.

Ooops! It just wouldn’t do for the president to mention that the system lost money because of its investments in Enron and his still-to-be-offered plan would not guarantee benefits.

That’s lyin’, Chimpy-style.