Lets, see: our president wants to borrow a couple of trillion dollars to jump start Social Security private retirement accounts – because of the shortfall they will cause in current disbursements. Wouldn’t it be simpler to say he wants to borrow a couple of trillion to lend to individuals to buy securities.
Meanwhile – while Social Security borrows trillions for whatever – Social Security will go on lending its current surplus to the government to cover non-Social Security expenditures.
Meanwhile – while trillions of dollars of tax cuts for the well off are promised to lift all Americans to permanent prosperity – President Bush bases his Social Security future worries on the worst possible economic growth projections….
….all the while proposing a stock market solution that depends on the best possible growth expectations.
As Casey Stengel once put it: “Does anybody here know how to play this game”?