Fat Steve's Blatherings

Wednesday, March 23, 2005

A Fairly Good Post on Socialist Insecurity

      Can be found here, relating GM's threatening bankruptcy and the Social Security/Medicare underfunding problem.  It points out the big problem they both share: defined benefits. (Hat Tip: AnkleBitingPundits)

      The bottom line:
Critics of Social Security reform like to argue that personal savings accounts would introduce too much uncertainty to the nation's retirement system. But the actual experience of pension programs in the economy tells a different story. On the one hand, there are personal retirement accounts. On the other, junk bonds and bankruptcy.

      Read it all.

THE HOUSE OF SAUD MUST BE DESTROYED -- AND WILL BE!

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