I remembered W has another thing right--partial privatization of Social Security. It has to be done. SS will be insolvent before 2050--no more money. The only realistic steps we can take without partial privatization are (1) raise payroll taxes yet again (and again and again and again), (2) cut benefits, (3) raise the retirement age, (4) let old people go destitute, (5) means testing--screwing people out of the thousands of dollars they were forced to pay into it, (6) a mixture of some or all the latter. None of these options seem pleasant--politically or otherwise.
But, of course, none of the people in office will have to worry about it. They will let it be someone else's problem. Not just mediocrity this time, but cynical below-average mediocrity rules here amongst the D's.
It is impossible for SS to keep up with inflation--just is. The limited amount they don't pay out in benefits gets put into Treasury notes specifically designed to just keep your head above inflation waters. So what's wrong with partial privatization? Too hard. This is the D's biggest failure to date and only continues--a huge problem somehow fixed by putting their heads in the ground and hoping it goes away. Stellar. Just frickin Stellar.
Saturday, June 30, 2007
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