The Daily Sandwich

"We have to learn the lesson that intellectual honesty is fundamental for everything we cherish." -Sir Karl Popper

Location: Boston, Massachusetts, United States


Tuesday, November 09, 2004

Why Privatizing Social Security Stinks

This article from TNR takes a pretty serious look at what the Prez is proposing. And it isn't pretty.

". . .during his post-election press conference last week, Bush finally seemed to acknowledge what economists have known all along: With or without private accounts, preserving Social Security over the long term will involve raising taxes, cutting benefits, reducing spending on other government programs, or some combination thereof. The question is not whether to cause financial pain but how."

To sum up, it's all about ideology-- real world be damned!