Yesterday marked the 70th anniversary of the Social Security program.
To me, the case for Social Security reform is so self-evident that I sometimes find it hard to believe that anyone would be against it.
First of all, people should be free to do whatever they want with their money and, like taxation, Social Security goes against that principal.
Even more importantly, though, Social Security in on the verge of failing at the very thing that it was created to do —- provide for retirement. I am in my late 30s and I don’t know anyone my age who actually believes that Social Security will be around when it comes time to retire. Even the most modestly invested retirement fund will outperform Social Security in the long run — with the added benefit of not bankrupting the Treasury in the process.
While its not perfect, President Bush’s proposals to reform the system are at least a start. Unfortunately, it appears that whatever momentum existed for reform has died.
