Nation Comment: The 'Ownership' Swindle

'Ownership' Swindle

by DAVID MOBERG

[from the April 4, 2005 issue]

George W. Bush hasn't even spelled out the details of his plan to privatize Social Security and it's already in trouble, even among some Republican lawmakers--for good reason. There's mounting evidence that privatization won't solve any of the system's financial problems, which loom far in the future and can be easily fixed, but it will worsen the government's fiscal condition and reduce future benefits even below what would result if Congress did nothing at all.