Monday, December 13, 2004

Social Security - Reform

David Brooks has a really good OP-ED about Social Security reform. Mr. Brooks has an observation that I happened to agree with on the current liberal doctrine and I quote "What you hear these days is not liberalism. It's conspiracyism" - pretty much sums up what I hear everyday from the left.. Some excerpts from the article.
What you hear these days is not liberalism. It's conspiracyism. It's the belief that the Bushite corporate cabal is going to do to domestic programs what the Bushite neocon cabal did in the realm of foreign affairs. It's the belief in malevolent and shadowy forces that will grab everything for their own greedy ends. This is Michael Moore-ism applied to domestic affairs, and it will leave the Democrats only deeper in the hole.
[...]
The outline of the problem is clear. When the Social Security program was created, there were 42 workers for each retiree. Now there are about three workers per retiree, and in 2030 there will be two.

The White House is heading toward a reform plan that would tie the benefit levels to prices rather than wages, which is a serious benefit cut. It would then use the power of the markets to compensate retirees for those cuts and to create a reserve fund to make the system solvent. (Please read more)

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