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Politics : Politics for Pros- moderated
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To: Lane3 who wrote (112044)5/1/2005 2:51:05 PM
From: TimF  Read Replies (2) of 793928
 
Because the privatization part of Bush's proposal doesn't "fix" the problem, which is a shortfall of money to meet obligations. The only way to fix that is through benefit cuts or tax increases. The privatization part doesn't fix that. It actually makes it worse.

In one sense it makes it better. Benefit cuts may be more politically achievable if they don't result in an actual cut of the money someone gets through SS. If the "personal account" gets a better return than the recipient may make more even after you cut the rest of the benefit.

Tim
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