As the Democrats bankrupt our country Terry now asks how come we don't talk about privatizing Social Security anymore.
Terry... economic genus that we all are you of course realize we are using the S.S. fund to pay for current obligations. We have no money to pay for the coming Baby Boomers without huge tax increases.
So yes, it would have been great to allow folks to place a portion of their S.S. in an investment which they truly own. Remember, this was not directed towards current retirees.
And yes the current environment would have been difficult but it still would be better than having nothing which in truth is currently the case. If you believe in the American Economy then you must believe in the long term growth of its capital markets.
Your side, too busy being demagogue's, offered no alternative. The bankruptcy of our country is preceded by the bankruptcy of the left.
2 comments:
Under the current government we'll just sell more bonds to the Chinese and Saudis to pay the SS benefits. Let the next generation fend for themselves.
For the record, Jim was for privatizing Social Security when the Dow was over 14,000. By the way, just how much has the Dow gone up the past ten years?
The GOP wants "private accounts". Well - we have them. Anyone can get a private account if they have the dinero. The Republicans merely wanted to eliminate Social Security - one of the foundations of the New Deal. Fortunately, they failed to do so. This idea was DOA.
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