Don't privatize Social Security

Letter to the editor

Posted: Friday, March 04, 2005

There is certainly a drumbeat within the Bush administration to privatize Social Security. The system has served as a safety net for countless people since its inception and should be strengthened, not gutted. The idea is not how best to protect each individual, but society in general.

Those who can afford to invest more in their retirement certainly should do so because Social Security payments cover only a fraction of expenses for a middle class lifestyle. But the system should be saved for the benefit of those who need it most.

Bush's rhetoric about personal freedom irks me because he talks at the same time about limitations on these personal accounts to avoid personal investments, which are too risky.

And it's not a simple matter of changing programs. Taking funds out of the system will require an enormous debt load. I have seen one figure of $15 trillion over the next 40 years.

I am hopeful that congressmen and women on both sides of the aisle can rise up to defeat this unsound idea of privatization.

Richard Stokes


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