Best way to save Social Security

Timothy Penny, a former Democratic congressman from Minnesota, makes a persuasive case for personal accounts in the Christian Science Monitor:

Personal accounts may not be a perfect solution to government's lack of discipline in managing Social Security money for the future. But when it comes to saving, which is crucial if Social Security is to survive the retirement of the baby boomers, the nonpartisan CBO found that personal accounts are the best alternative available.

The article is remarkable – especially for a Democrat – in that Penny states that the government cannot be trusted with money. The surplus that has built up in the Social Security trust fund has been spent away and government-owned assets under a market-based plan would lead to the same problems. The only answer is to get the cash out of the hands of the politicians.