Sure, Krugman today makes another well reasoned, quantitative argument as to why Bush's Social Security plan is a quack idea which won't accomplish what it set out to do. But there's a simpler argument, and it goes like this.
Social Security began as a plan to keep senior citizens from starving in the streets during the Depression, when the market failed. When another Depression hits, all those fancy-schmancy investment accounts Bush wants us to have so that he can dismantle the government social security program will be worth Zippo. Nada. The big Goose-egg. As much as W's oil companies.
Boom, we'll be back to our 80-year-old grandparents sifting through garbage to find tossed out iceberg lettuce taco salad to live on, starving in the streets.
So, folks: don't make Social Security dependent on the success of capitalism. The reason we have Social Security is that sometimes, the market fails, and we don't want our parents coverd in sores and dog feces, sleeping in gutters, in grimy clothes soaked in their own filth.
And that, as the saying goes, is why Bush's Social Security plan sucks donkey balls.
Which is a technical term, I think first due to John Kenneth Galbraith.
Friday, February 04, 2005
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