Privatizing Social Security Won't Save It

"For one thing, the economic trends that made Social Security privatization seem reasonable to some of them (Republicans) four years ago have reversed. The switch happened on the president's watch, the result of his fiscal policies.

"For another, the president appointed a commission to study privatization of Social Security. So now he can't find political protection behind the fuzzy math of a campaign promise. The commission's own findings are plain: There's no way to have younger workers put some of their payroll tax money into personal accounts without cutting future benefits drastically, racking up trillions in more government debt - or, as Bush's commission suggested, both."

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