PAUL KRUGMAN: Ship of state headed for iceberg

[Yo_Mama_Been_Loggin]

Last week someone leaked a memo written by Peter Wehner, an aide to Karl Rove, about how to sell Social Security privatization. The public, says Wehner, must be convinced that "the current system is heading for an iceberg."

It's the standard Bush administration tactic: Invent a fake crisis to bully people into doing what you want. "For the first time in six decades," the memo says, "the Social Security battle is one we can win." One thing I haven't seen pointed out, however, is the extent to which the White House expects the public and the media to believe two contradictory things.

The administration expects us to believe that drastic change is needed, and needed right away, because of the looming cost of paying for the baby boomers' retirement.

The administration expects us not to notice, however, that the supposed solution would do nothing to reduce that cost. Even on the most favorable assumptions, the benefits of privatization wouldn't kick in until most of the baby boomers were long gone. For the next 45 years, privatization would cost much more money than it saved.

http://seattlepi.nwsource.com/opinion/207594_krugman.html

[tuvor]

1. Why do I see Krugman in the future, saying "I hate to say I told you so."

"But I told you so!"

For everyone's sake, I hope this smart man is very wrong.

[Florida_Geek]

2. I see Bush hitting a stone wall on this

No Gays in it

No Religion in it

No 9-11 Terrorist in it

No Guns in it

The Rich will not benefit from it.

AARP is hitting hard against it

More and more Dems groups will be coming out against in the media..

When you add all that up, it is hard to go to Joe Six Pack and ask for his support and money...

[GregD]

3. Uhh, correction?

<<The Rich will not benefit from it.>>>

The monarchs of Wall Street will freaking love this. And my suspicion is that those are some fairly wealthy folks.

[Florida_Geek]

4. they are a drop in the bucket

when talking about Rich