Midnight Rantings

Tired rantings in a tired world.

Thursday, April 29, 2004

Let Me Outta This Pyramid Scheme

The news for the younger than Baby Boom crowd is grim. This article by Michael Tanner points out the problems facing that crowd in regards to Social Security (SS). As I have blogged before, the news about SS is grim. Reading this article put in stark numbers the problems that will be faced in the not too distant future.

As usual our so called leaders will not doing anything about it. It has become a political football. One of the reasons I voted for GWB is because of his talk of privatization of SS. I fervently believe the only way to save it to allow some form of private investment. With mutual fund returns averaging around 10% versus the less than 2% with SS returns, it would seem to be no brainer. I have seen GWB be on long talk. He has talked a lot about possibly allowing people the right to invest their money. Unfortunately, he is short on action. What does his political opponent have to say? The silence is deafening. Democrats, as usual, refuse to offer any alternatives. They will use scare tactics to frighten seniors into voting against anyone proposing changes.

I blame FDR. He set us onto this path of socialism. No socialist country can provide the services promised and be economically viable. Look at heavily socialist countries, such as France, Germany, etc., and one sees stagnation. The people come to demand and rely more on the State instead of themselves. This gives the State more power, and that is what it is all about. The reason our elected "leaders" will never change the status quo is precisely due to potential loss of power.

I feverently hope for someone to step forward and be a leader rather than be directed by focus groups and polls.