I am tempted to quote the entire thing since it is so right on. Michael Kinsley:
My contention: Social Security privatization is not just unlikely to succeed, for various reasons that are subject to discussion. It is mathematically certain to fail. Discussion is pointless. [read the rest on tpm]
Since you are interested, and I know you are. Paul Krugman took time out from his NYTimes sabbatical to write these two editorials on the subject. Very good intro to the subject.
12/6: Contrary to what the privatizers are saying, we don’t have to destroy Social Security in order to fix it.
12/9: The Bush administration’s Social Security proposal will rely on borrowing trillions, putting the money in the stock market and hoping.
Yeah, the real issue is there at the end of the first Krugman article. This isn’t an arguement over theory. The idea that privatization is better for the common man is just flat. When they say it’s ‘better’, they mean it but that’s because it’s in line with the over-all conservative drive to kill social programs. period.
I tend to agree with Krugman that the same conservatives are purposely driving the deficit to the brink on purpose, in order to push through sweeping cuts of social programs. "That just might be crazy enough to work" – And it will work.
The things that will destroy America are prosperity-at-any-price, peace-at-any-price, safety-first instead of duty-first, the love of soft living, and the get-rich-quick theory of life. — Theodore Roosevelt 1858-1919, Twenty-sixth President (Republican)