[Mb-civic] Privatizing Social Security: 'Me' Over 'We'

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Privatizing Social Security: 'Me' Over 'We' 
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By Benjamin R. Barber
Benjamin R. Barber, a professor of political science at the University of Maryland, is the author of "Jihad vs. McWorld" (Ballantine, 1996) and other books.

January 27 2005

Social Security privatization has been vigorously challenged on both economic and technical grounds. It has been said again and again that privatization increases risk for prospective retirees without solving the long-term Social Security financing shortfall (if there actually is one). It has been argued that privatization is merely a scheme to divert money from the Social Security trust fund for speculative stock market investments. And it has been noted that it creates new costs (portfolio management, government oversight) without being able to guarantee workers future retirement benefits. 

The complete article can be viewed at:
http://www.latimes.com/news/opinion/la-oe-barber27jan27,0,3156114.story 

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