Harry Reid, senate minority leader, has said that moving Social Security into private accounts was like relying on roulette. He's an idiot. To be sure, equity markets fluctuate, but over time they have consistently appreciated in value. They consistently appreciate in value because of the underlying strength of the American economy. It is this strength which makes the payroll deductions for Social Security possible. If Senator Reid followed his own logic, he'd see that Social Security is an irrational program supported by that riskiest of propositions - the American economy. But like I said, he's an idiot.
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1 comment:
That whole column was great-- not just the stuff on Reid.
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