Its the money stupid...
To paraphrase a talking point from both the GOP and Dems (Its the economy stupid..).A more accurate phrase might be "Its OUR money stupid...". All this is leading up to the latest information on Social Security and PSA's. The core of the Dems/AARP's message on keeping the status quo based on the following premises:
- The government knows better how to use your money than you do. This goes right with the promise "I'm from the government and I'm here to help you." To paraphrase something I read earlier - its impossible to do without government, but never depend on it.
- The majority of Americans are dumb enough/gullible enough they'll believe the song and dance about a 'trust fund' and won't notice that Congress has raided the surplus shamelessly (its called embezzement in the business world) over the last 30 or so years and replaced it with paper OIUs that can only be redeemed by raising taxes or cutting other programs.
- The average American won't notice the sleight of hand they are playing with words when they say the Bush or Ryan/Sununu plan would cut benefits from SS in the future. This is true as far as it goes. The rest of the story is that money going out of the SS fund to workers is gradually phased out in favor of money from those same workers PSA's. So the 'reduction' is only what is coming from the traditional SS fund, not as income to the user (which should increase under PSAs).
- The average American won't notice the similarity of PSAs to 401k accounts that EVERYONE says are a good idea. Don't hold your breath waiting for the AARP or the Dems to give up their 401k's as 'risky' investments.
The manager's of the current SS fund have put out trends charts for those who prefer to recieve their information graphically. See them and the accompanying article at the Human Events web site here.
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