02/13/2005: More Meatheads
Michael Kinsley (LA Times) is "at it" again in this most excellent post about Social Security;
Kinsley writes in The Meathead Proposition:
"Try to forgive my obsession, but here is another proof that President Bush's designs for Social Security cannot work. This one's not mine. I first heard it from the actor/director and liberal activist, Rob Reiner. Like the argument I have been hawking (see latimes.com/proof), this one doesn't merely suggest that Bush is making bad policy, it demonstrates with near-mathematical certainty that the idea he endorses cannot work. Period.
Bush might as well be proposing legislation that 2 plus 2 is 5. And if that happened, there would be no shortage of Republican pols prepared to endorse such a view...."
In an earlier public query Kinsley challenged all comers to refute his declaration that :
"My previous argument, in a nutshell, was that even if these private investments do better than the government bonds in which the current Social Security surplus is invested, this won't change the total amount being invested in the private economy, or increase the economic growth that comes from private investment, because the government will just have to go out and borrow elsewhere to replace the dollars it isn't able to borrow from Social Security."
To date: NO ONE has sucessfully refute this propostion or shown how the "Bush Plan" is anything other than a barely disguised proposal for the total train-wreck of the entire Social Security System...not the FIX he promises.
Karen on 02.13.05 @ 06:52 AM CST