Thursday, February 10, 2005

Privatizing Social Security

I was doing some cleanup to my various websites and fixing some of the RSS feeds (all very technical) when I came across this gem from the South End. As most people know I'm not on campus that often (being a graduate student and working F/T and all) so I hardly ever read The South End, but now I'm reading it on-line.

Nevertheless, the writer of this story just doesn't have any of the facts straight. Allow me to correct some of his inaccuracies: Social Security will no longer exist if something isn't done (the warning comes from both sides of the aisle as well as independents); the stock market can be quite volatile at times, however, there are safe places to invest your money, including mutual funds, government bonds, and so on; nobody said there wasn't risk involved, life is a risk; I fail to see how social security is the Democratic Party's greatest achievement; when we pay into social security we are paying in for ourselves not other people (at least that was the plan); Al Gore couldn't find a nickel in the U.S. Mint let alone a lock box, as senator he approved for funds to be removed just as everyone else did; one Republican? that's it?; no one said it was foolproof; finally, maybe he should actually read the proposal and history of social security.

CNN (gasp) has a good sum up of Bush's plan so far.

Facts, not muckracking... now that's good journalism.


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