It's the Republican's plan to destroy Social Security. There is little wrong with it that can't be easily fixed in about 30 years. Do pay attention to this one.

Buying Into Failure
by Paul Krugman

As the Bush administration tries to persuade America to convert Social Security into a giant 401(k), we can learn a lot from other countries that have already gone down that road. Information about other countries' experience with privatization isn't hard to find. For example, the Century Foundation, at www.tcf.org, provides a wide range of links. Yet, aside from giving the Cato Institute and other organizations promoting Social Security privatization the space to present upbeat tales from Chile, the U.S. news media have provided their readers and viewers with little information about international experience. In particular, the public hasn't been let in on two open secrets: Privatization dissipates a large fraction of workers' contributions on fees to investment companies. It leaves many retirees in poverty.

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Why Social Security
by Stirling Newberry

Originally, social security was framed as saving. At the time that is how insurance was sold "saving plus security". That is not how insurance works or is sold now, because now people have direct access to investment. The underlying reality is that Social Security is going to be repealed, they will call it something else, but that is, in fact what is happening. What they want to convince people of is that they can make money by renting money to the future. It's also a marker - that the constitutional crisis point is reaching its critical stage.

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Talking Points Memo

It seems most advocates of phasing out Social Security let out a squeal worthy of Deliverance when you insist they own up to naming their plan for what it does: namely, end Social Security. Yes, I know, many of them only want to 'partially' end the program. But anybody with the fiscal roadmap in front of them and a decent handle on policy geography can see that the 'partial' pretty quickly leads to the total.

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