Just another Reality-based bubble in the foam of the multiverse.

Friday, December 17, 2004

The 300 lbs gorilla hiding in plain sight

In case the barrage of disinformation is really making you believe that Bu$hie needs scrap social security to borrow a trillion or so bucks- in your name- and invest it for you- in your name, read this :

And ponder this:

In particular, the public hasn't been let in on two open secrets:

Privatization dissipates a large fraction of workers' contributions on fees to investment companies.

It leaves many retirees in poverty.

...So the Bush administration wants to scrap a retirement system that works, and can be made financially sound for generations to come with modest reforms. Instead, it wants to buy into failure, emulating systems that, when tried elsewhere, have neither saved money nor protected the elderly from poverty.


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