By Matt for the TIB Network:
With a hat tip to The Art of the Blog, I give you FactCheck's take on two ads (one for and one against the President's plan for Social Security).A pro-Bush TV ad gets the central fact right about Social Security: by the time today's young workers retire there are projected to be only two workers paying Social Security taxes for every one person receiving Social Security Benefits. Today there are 3.3 workers per beneficiary.As usual, Democrats are saying that the President is using scare tactics, yet it's the liberals who oppose him that are actually using scare tactics. Read their analysis, folks, it's right on target.
But a different ad opposed to Bush's efforts uses a misleading photograph. It shows wild trading in commodities like cocoa futures to depict the risk that workers could face with private Social Security accounts. Actually, what's being proposed is not investment commodities, but in far less risky stock and bond mutual funds, which would be broadly diversified.
Mark's Remarks
Well, when Ted Kennedy says there is not a crisis, you better start worrying. Remember, this is the same guy who WANTED to say Mary Jo was the sole driver and occupant of the car. This is the same guy who rather than tell the cops what he did swam drunkenly across the water to his hotel to cover up the scene.
Back to topic: we are not talking about just giving the money to brokers to engage in junk investing. We are talking about putting it in mutual funds. Many state retirement funds are now offering this option with great approval and results. You know, I have read in the comments people saying that all that the left wants to do is for Bush to say we are going to reduce benefits and raise the payroll tax. OK, let's think like ANY politician: what are people going to say if you tell them they are going to get less and pay more? Come on now.
Privatization is a good idea. Especially the limited type the President is proposing. If people wish to invest, then they should have a right to invest THEIR money if they so choose, especially since it will have a greater return. You know, you can tell Social Security has a problem when Congress has been opted out of it for years. If they can have something different, why shouldn't all of us have that choice?
