Let’s talk turkey about privatizing Social Security

Source: Allan Sloan, Washington Post, Thursday, November 25, 2010

Thanksgiving is upon us, making this a perfect time to go searching for turkeys – the financial variety, of course. But this year, rather than looking backward at inept deals or government programs, let’s try to find future turkeys. And the biggest one is . . . privatizing Social Security. …. Why is privatizing Social Security such a turkey? Because retirees shouldn’t have to depend on the market’s vagaries for survival money. …. But Social Security isn’t supposed to be a gambling program, or a wealth-building program. It’s an intergenerational social insurance program, in which we make sure our parents don’t have to depend on food banks and homeless shelters when they get old, and we hope our kids do the same for us.

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