Wednesday, February 02, 2005

Here is a surprise

In a shocker, the AARP is against changing social security, apparently sacrificing needs of future needs for those of its current members (which is not exactly rare these days). This issue may not be settled for years, but it will be interesting to watch. I have not seen any details of Bush's plan so I can't say if I would support it or not, but I think doing nothing is a mistake. I heard one commentator say it won't be techically in trouble until 2042, as if that means we should not try to fix it now. The private account idea certainly has some merits but some pitfalls as well. My biggest concerns right now is that the average person may not have the expertise needed in such a system and may not truly realize that they could lose all or part of their money that way.
This should be one of the most interesting political events of our generation, it should be very interesting to watch as our elected representatives juggle several strong competing influences.

You can read an article about this here:
http://story.news.yahoo.com/news?tmpl=story&cid=676&ncid=716&e=25&u=/usatoday/20050125/ts_usatoday/aarpdeadsetagainstbushssocialsecurityplan

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