On privatizing social security

Great little article by Paul Krugman in the New York Times about the attempt to privatize Social Security. Here’s a blurb; link above.
Inventing a Crisis
By Paul Krugman
The New York Times
Tuesday 07 December 2004
Privatizing Social Security – replacing the current system, in whole or in part, with personal investment accounts – won’t do anything to strengthen the system’s finances. If anything, it will make things worse. Nonetheless, the politics of privatization depend crucially on convincing the public that the system is in imminent danger of collapse, that we must destroy Social Security in order to save it.