The future of Social Security
February 5, 2005
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I hate to admit it, but for once I might actually agree with the (worst ever) President on something….the privatization of Social Security. I’ve spent my few working years so far saving up early and often for retirement since I’ve always lived under the assumption that there will be no Social Security around in forty years when I reach my retirement age. While I’ve always felt this way, that by no means implies that I do not want Social Security to be around. I know that the majority of Americans are not able (or, in some cases, willing) to save an adequate amount of money for retirement, and Social Security has become almost an essential way of life for millions. And that is the way it should be.
Why is privitization good? Well, there are many reasons which others have discussed much more eloquently than I ever could (link). But basically, for me, if I have a little account of my own with my name on it, that makes me a whole lot more comfortable than knowing my hard-earned money is just floating around out there in the general pool. I realize that most plans do not intend to put all of one’s money into their own account, but even just having a piece of it under my own watch would give me some peace of mind. I think deep down, many Democrats agree, but this is just such a hot button issue, and Democrats were hoping to call it their own and use it as part of their platform for 2008. Well, I’m sorry to say guys, but it doesn’t look like it’s going to wait until then…so stop trying to derail this train and get on board and make sure it turns out to be what is best for Americans, not just your little party. And yes, I do agree that there are much more pressing issues and matters that should be receiving our attention at this time, but it looks like this is the one that’s up for now, so deal with it.