More Social Security Bunkum from Andrew Biggs

Just Who Is Afraid of Privatization?

Obviously not Andrew Biggs. It landed him a job as noted before in the SSA.

Read his nifty article it is chock full of luscious quotes from when he was at the CATO institute.

What's in a word? Plenty, if that word is "privatization."
...
But words influence how people think about issues, and the public deserves to know what personal account proposals actually entail. And the truth is much less scary than account opponents would have us believe.

In fact, actual reform proposals such as those from the President's Commission to Strengthen Social Security entail almost none of the laissez-faire, dog-eat-dog, sink-or-swim capitalism the word "privatization" conjures. The Cambridge International Dictionary defines "private" as "not connected with, controlled by, or paid for by the government." Would a reformed Social Security program remain "connected with, controlled by, or paid for by the government"? For better or worse, the answer is yes.

Actually the answer is NO. That is what Personal means right?

Let's look it up from the Same Cambridge Dictionary...

personal -
adjective
1 relating or belonging to a single or particular person rather than to a group or an organization

Organization as in government as in not theirs.

If it is then what is the point right? I mean if the government is just giving you the money to make your own choices in where you invest. Even though they are keeping it for themselves, how is that personal or private.

All this amounts to letting a bunch of completely uneducated people make stupid decisions on investments, slowly eating away whatever percentage of the tax Bush and co. wants to take away.

Further damaging the fund and putting it further into deficit and dissaray.

Thanks Andrew Biggs.

Good luck in your new job, I bet you can come up with more different crazy sophisticated, predictions about when the world is going to end or when we will all be living until we are 200 years old, and since that is going to happen we should start taking money out of Social Security now.

While we still can right?

I hope we don't see him on any more stages with Bush, if so, please throw an egg on that man's face.