Quote:
Originally posted by Gattigap
There are two legitimate issues out there: the eventual insolvency (decades out) of a guaranteed entitlement, and the country's low retirement savings rate. Bush wants to "solve" the second problem by drawing funds from and eliminating the entitlement, at least in part, and perhaps altogether. His proclimations about "saving" SocSec are, as far as I can tell, nonsense.
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They're not nonsense, because he also has reforms that would help solvency, independent of privatization, no? E.g., reducing the growth rate of benefits. The problem is that as a political matter, one has to buy off the people who get screwed by reductions in out-year benefits with a different approach that allows them to keep those benefit levels, but only by taking a gamble on the markets.
That said, my biggest problem is this: I don't want to pay twice. Once to give people money to invest for their retirement. A second time when they fuck it up and we still have to give them something in retirement.
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