The Lincoln Plawg - the blog with footnotes
Friday, April 08, 2005
At last, some sense from the left on social security
The fairy stories being told about the social security trust funds by opponents of Bush's privatization scheme (March 7) have got my goat - a little. (Pols will be pols, hacks will be hacks, but...)
Yet, on Janeane Garofalo's show last night , I hear veteran leftie Fran Lebowitz  nailing the issue, without actually mentioning the words. Young people she said (25:20 - emphasis mine)
are the people who support social security reform because they don't understand what social security is...In fact, many people my age don't know what social security is. People are always saying 'It's my money: I put it in, I'm taking it out.'
There is no crock of gold: there is only one generation paying in and an earlier generation taking out. Not a trust: a pyramid scheme.
I don't think Lebowitz would claim any actuarial expertise; but she's prepared to say what seems to be the unsayable for eggier heads opposing the Bush plan (whatever it is).
Worthy of note, I thought.
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