Repeatedly we have been sold a bill of goods. We have been told that one of the biggest problems we face is too much government control. Think Savings and Loans or Electricity. We are told that if we let them take away the controls and let the free market function everybody benefits, but do we?
Deregulating the Savings and Loans and giving the free market control resulted in one of the biggest bailouts in U.S. history. A few savvy people made a fortune and the rest of us paid for it.
In California, deregulation of the utilities let to brown outs, syrocketing utility bills and a deficit that is still uncontained. Once again, a few savvy people made a fortune gaming the system and the taxpayers were left to foot the bill.
Now they are telling us that the free market is good for Social Security. Given their track record, I don't think this is good news.
Social Security is the last defense against intollerable poverty. It is our guarantee that after a lifetime of work, a catfood free lifestyle could be obtained. Placing this last defense at the whims of the market only increases the chance that 20, 30, or 40 years from now we will be faced with another bailout or we will have to watch our seniors living in cardboard boxes.
Gutting Social Security is simply not the answer. Its what they aren't telling us that worries me the most.