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Reply #6: 'How do we fix this'? Clinton tried to set up a centrally-managed Sovereign Wealth Fund [View All]

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ProgressiveEconomist Donating Member (1000+ posts) Send PM | Profile | Ignore Thu Aug-26-10 11:18 PM
Response to Reply #5
6. 'How do we fix this'? Clinton tried to set up a centrally-managed Sovereign Wealth Fund
for Social Security. That was when there still were fifteen years of surpluses to redirect. But the Rs were adamant--that would have been 'Socialism". Only privatization of Social Security would provide the "right incentives" rather than allow government to--heaven help us--exert political influence on market decisions.

See http://www.brookings.edu/papers/2005/04saving_diamond.a... .

IMO, time is running out for strategies other than (1) and (2) listed in the OP.
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