There are a lot of things one could pick at in Froma Harrop’s recent column comparing proposals for private social security accounts to problems with some subprime mortgages. However, this in particular caught my eye:
If the folks now approaching retirement saw their private Social Security accounts suddenly lose 10 percent of their value — as have many conservative stock portfolios — we’d be hearing demands for a Social Security bailout on top of a mortgage bailout.
Well, their government managed “trust fund” has incurred a 10% loss over the past couple years. Froma, perhaps you should lead the bailout demands.
Oh, the us government is over 9 trillion dollars in debt and still spending so there is no money available for a bailout.