Wednesday, March 16, 2005

Oh, so they're protecting SS???

Guess what! Greenspan, Bush, all those conservatives . . . they're trying to make sure the government can't spend your Social Security assets! Greenspan mentioned this in his testimony yesterday before the Senate Speical Committee On Aging (see last post). Greenspan said:

"The major attraction of personal accounts is that they can be constructed to be truly segregated from the unified budget, and therefore are more likely to induce the federal government to take those actions that would reduce public dis-saving."
So, personal accounts are designed to prevent government dis-saving. Except, hang on, creating private accounts would create trillions of dollars in new debt. I feel like I'm taking crazy pills! You know, there's a much cheaper way to ensure that the government doesn't dis-save by spending funds meant for Social Security—legislate the "lockbox" that should already exist! Make it law that Social Security funds cannot be spent on the general fund. That solution costs no money. No new trillions of dollars of debt. These people are either liars are idiots. Given how many times they use the "incompetence" defense, they're happy to be idiots. But no one is this stupid. So let's call them liars.


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