January 11, 2005
Social Insecurity
Bush plans big, Republicans plan small...
Discussions are beginning to bubble around President Bush's audacious plan to begin restructuring Social Security by allowing younger workers to partially opt out into a hybridized private retirement system. And while Bush is readying to lead the charge, a number of Republicans are readying to sound retreat.
The goal of this plan involves two sides of the same coin - greater returns for investors, which will require fewer outlays from Social Security. The problem is that the government has been spending out of Social Security for ages, and is addicted to stealing from the piggy bank. Additionally, Social Security pays out far more per beneficiary than it takes in - this, coupled with the age old problem that foretells the doom of a democracy - that once the public determines it can vote themselves largesse from the treasury, they will do so unerringly until the collapse of the system. This is of course seen in the "third rail" nature of Social Security politics - huge groups feel irretrievably dependent on the system, therefore they will never allow reform of the system.
So, you have a system that is treated like a trove of ill-gotten booty by representative and represented alike, and it will take a great deal of effort and courage to make a change to this system.
Some Republicans, especially blue state Republicans, are antsy about how the proposed reforms will expose them politically next year. Well sure, but let me help you with this - you're a Congressman, you will ALWAYS have an election next year. This is an excuse for inaction?
Consider this remark from Republican Congressman Rob Simmons, surely an avatar of political courage if one has ever been heard:
"Why stir up a political hornet's nest . . . when there is no urgency... when does the program go belly up? 2042. I will be dead by then."
Now that's leadership. Note to Simmons - maybe you ought to lose your seat next year, at least a Democrat from your district will fight for what might be right, rather than just cower over his seat, hoarding his precious gains.
My first day back, and I run into this craven ne'er-do-well...
Posted by MEC2 at January 11, 2005 12:14 AM