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.






One response to “On privatizing social security”

  1. justin Avatar

    I was a huge Paul Krugman fan, reading him almost daily, keeping up with his links. I admire his writing, plain-spoken essays that seem to share my values. The breakdown came as I came to feel inundated by his antipathy for the current government. I too stand largely against the current administration’s policies, but I guess it was frustrating to read constantly of the aggressive opposition. I want to read something that has some sense of power to it! If the government is failing in its duties, what other channels are out there for action? Not typical fare for NYTimes columnists; their beat is critique.