Duane Bozarth wrote in
:

Nate Perkins wrote:

The difference is that many of us believe that Bush's plan for
privatization will steer things more in the _wrong_ direction. That his
plan will cause more harm than good.

In what way(s)?


It's the wrong direction because it increases the deficit, and in the short
term the deficit is a far more pressing problem than is social security.
Borrowing more money (a couple trillion) to finance the parallel
privatization plan is risky because it increases the risk that foreign
debtors will decrease confidence in our committment to fiscal discipline.
There are a host of other problems as well: inconsistent projection basis
for SS solvency vs privatization returns, unlikely projection of future
stock values based on recent historical values, and erosion of return
differences due to administrative fees.

Privatizers like to accurately point out that SS revenues/expenditures are
not practically separate from the general federal revenues/expenditures.
With that being true, then the best thing to do to ease multiple problems
is to restore fiscal discipline.