Monday, February 21, 2005

Fixing Social Security for Good

Apparently the Heritage Foundation has done some research, and apparently raising the Social Security cap won't fix Social Security permanently. Of course their research also shows Social Security being out of money in 2018 (on the theory, I suppose, that there is no Social Security Trust Fund and United States Treasury Securities aren't worth the paper they are printed on. So you have to take their calculations with a grain of salt.

But let's settle one thing. The only way to solve Social Security permanently is to eliminate the program. If there is no Social Security, there will be no Social Security Program. There might be an elderly poverty problem. There might even be an elderly eating cat food problem. But there will be no Social Security problem.

Is there anybody foolish enough to believe that President Bush's Personal Accounts will solve Social Security permanently? The only way that can happen is if, as many suspect, it is the first gambit towards getting rid of Social Security entirely.

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