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Politics : PRESIDENT GEORGE W. BUSH -- Ignore unavailable to you. Want to Upgrade?

To: Srexley who wrote (130163)	3/3/2001 11:58:36 AM
From: Mr. Palau	Respond to of 769667

Message 15441962

To: Srexley who wrote (130163)	3/3/2001 7:04:08 PM
From: Nadine Carroll	Read Replies (2) \| Respond to of 769667

That's quite a change from your "grandpa in the poorhouse" response. Tell me why you feel that people SHOULD NOT have this choice. How is it better to not offer something like this to people who want it? Scott, it's not a change at all...my "grandpa in the poorhouse" response was addressing certain political realities of the Social Security program. It was sold, and is supported, as a fixed-benefit program, not a defined-contribution program. To alter it, even to maintain it, you need widespread political support. Privatization is being touted as a surefire way to improve the benefits; no one is mentioning the increased risk involved OR the transition costs. Since Social Security benefits are the main source of income for a majority of our elderly population, I was simply predicting what would happen if the program were largely privatized and the market suffered a downturn. That's one of the reasons I'm dubious about the idea as it's currently being touted. And of course the privatization idea will be most popular after the market has soared, and least popular in a bear market -- just the opposite of any rational planning.