Entitlement reform on the table? What's up with that? Boston Globe: "Medicare, Social Security eyed - Obama names fiscal watchdog"
Pointing with concern to "red ink as far as the eye can see," President-elect Barack Obama pledged yesterday to tackle Social Security and Medicare as a central part of his effort to control federal spending and named a special watchdog to eliminate government waste - even as he campaigned anew to spend the largest pile of taxpayer money in history to revive the sinking economy.The President-elect gave no details but it seems to me that simply raising the issue signals that he's keeping all options on the table. I'm extremely doubtful he'll do anything aside from raising taxes.
Extra - IBD editorial: "Can Social Security get a new deal?"
2 comments:
Privatization = profit!
http://www.bloomberg.com/apps/news?pid=20601109&sid=aty4gEh9wups&refer=home
Yes, I always get those stories about how privatization would destroy pensions whenever the stock market goes down....but never when it goes up. Strange that.
Bush's plan only applied to younger workers who could ride out the ups and downs of the market. Over time, there is no stock, bond, stock/bond mixture that did NOT outperform the rate of return of Social Security.
As I say: the program so great they had to make it mandatory.
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