What truly amazes me is the animosity towards social security as a program. Perhaps it just goes to show how well social security has served its beneficiaries that some people take its positive affect on society for granted. I know of so many people who would be destitute come retirement age if social security did not exist. $01K plans as we have seen have exploded, family emergencies happen, savings accounts do not pay that well, there are so many things that can happen that planning for retirement is difficult. Which is why 80 years ago F.D.R show a great need for a safety net for the retirement of the American people. Wall Street however sees social security as missed opportunities for profit making. Which is why we are barraged by those who say wrongly that it doesn’t work.
Read the Article at HuffingtonPost
Feldstein’s Folly on Social Security
12 Friday Aug 2011
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