Thursday, June 30, 2005
I knew they were stupid...
...but I couldn't have possibly imagined that House GOP leaders were so stupid as to push through a vote on creating private accounts under Social Security, without addressing the program's fiscal solvency:
[House Republican] leaders acknowledged that the measure they are considering would make the deficit worse, and do nothing to deal with the president's rationale for bringing up the issue in the first place: projections that the system will run out of money for scheduled benefits when the baby boomers retire.[shakes head]...no, Speaker Hastert, you need to address the solvency first, THEN you can play with your toy. Nordy, have a field day, I'm not defending these assclowns.
House Speaker J. Dennis Hastert (R-Ill.) said he sees the measure "as a first step -- we need to solve this first step."
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This is what I was getting at. EVERY plan that has involved private accounts only worsens the solvency of the program.
Watch it, Nordy; I didn't say that private accounts were bad, just that they are the wrong solution by themselves.
Are they a bad idea altogether? I argue no, and here's why:
-No one is forced to create a personal account.
-It's not like employees should really trust that the same government that just allowed United to fuck over its employees will truly "guarantee" benefits.
-Private accounts are, indeed, yours; they can't be taken away.
But, you are right, they do hurt the program's solvency. But can we improve solvency and introduce private accounts? Sen. Bennett has a plan that might just work.
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Are they a bad idea altogether? I argue no, and here's why:
-No one is forced to create a personal account.
-It's not like employees should really trust that the same government that just allowed United to fuck over its employees will truly "guarantee" benefits.
-Private accounts are, indeed, yours; they can't be taken away.
But, you are right, they do hurt the program's solvency. But can we improve solvency and introduce private accounts? Sen. Bennett has a plan that might just work.
<< Home
