Tuesday, September 23, 2008

Privatizing Social Security

Opponents of privatizing Social Security have said it has been too risky. They've asserted over and over that people could potentially lose everything. I have to ask though...is it more risky than running a commercial investment bank?

Why not privatize it and then bail it out with money and at least be honest about the program's failure instead of letting it die slowly? Just wait...the social security buy out will come in another decade. The Fed will create money out of thin air to prop up this predictably dying and immoral program. Everyone can see it coming. With some struggle it could be avoided but it will fail...and when it does lawmakers will act surprised.

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