Tuesday, December 14, 2004

Loony, Bizarre and Irresponsible

Molly Ivins, via WorkingForChange, on Social Security suicide.
Q: Can we at least agree that we have a problem?
A: No.

To fully fund this shortfall would require additional revenue of 0.54 percent of GDP... "roughly equal to the fraction of [Bush's tax cuts] that goes to people with incomes of $500,000 a year."...

[Ending Social Security] is not some leftist conspiracy theory: Grover Norquist of The Club for Growth has been open about it for years. What we have here is a happy convergence of ideology (the Market Can Solve All Problems) and greed. The greed is from the financial industry, which stands to pick up an incalculable sum in profits -- and, of course, the financial industry contributes generously to Guess Who...

It's kind of hard not to be stunned by the irresponsibility of this scheme. To just blithely borrow the money to destroy a successful social program is, well, loony, bizarre and irresponsible.


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