Sometimes I don’t know whether to laugh or cry. All along we’ve been told this privatization idea was great for “the youth.”
Then it turns out it will be for everyone under the age of 55 and guaranteed benefits will be affected. Then it turns out it will cost the government – meaning us the taxpayers – $1 trillion to $2 trillion on top of the already huge deficit.
Seems like the only winners in this deal are the finance industry. They’re supposed to run the program and stand to make a mint. Now that would be a fiscal “crisis” in my book. As for me, I’ll have to work a lot longer to pay for this boondoggle and then I’ll have Social Insecurity. But the president just redefined what “youth” means.