The article actually makes a very good point. Privatizing Social Security can work if and only if it is truly private, that is, each individual is given control of where the money goes, without government interference.

The chances of this happening are nil, since liberals and the Democratic Party are firmly convinced that the average American (not themselves of course) are blithering idiots who will immediately invest all their money in the Acme Powdered Water Company. Elitism drives a great deal of leftist policy.

Assigning Social Security funds only to "approved" stock funds opens the system up to the usual mixed-economy corporate/government mutual backscratching. Who gets to decide which funds are "approved?" I don't suppose campaign contributions would have anything to do with it?

Far worse are those privatization plans, which some leftist politicians are supporting, which would take Social Security money and allow the government to decide where in the stock market it will be invested, with no input from the private citizen. The potential for abuse in this case is astronomical, with the worst-case scenario being the effective socialization of major industries as the government becomes the heavyweight stockholder.

...Bear in mind that ordinary Americans are already more vulnerable to stock market fluctuations than ever before. Twenty years ago most workers had "defined benefit" pension plans: their employers promised them a certain amount per year.

Of course, conveniently missed in this little piece of information is the fact that most company pension funds were, in fact, invested in the market in one form or another.

During the long bull market, however, such plans were largely replaced with 401(k)'s - "defined contribution" plans whose payoff depends on the market. This sounded great when stocks were rising. But now many will find either that they can't retire, or that they will have to get by with much less than they expected. For some, Social Security will be all that's left.

Of course the market will go back up again. It always does. But not before November if the Democrats can help it.

I am touched by the infinite faith liberals place in the immense stack of T-bills which is the current repository of our Social Security money. The assumption that our government will forever be fiscally responsible and frugal with its spending in the face of our past history ranks right up there with the assumption that the Tooth Fairy will take care of my retirement needs.

the reporter, R. G. Ratcliffe, matter-of-factly summarized this and many other unusual deals thus: "A pattern emerges: When a Bush is in power, Bush's business associates benefit."

Hello, McFly! Duh! Can you find me one single politician, from ANY party*, who has not pumped goodies to his business associates (and they ALL have business associates and cronies in the private sector) once in political power? Mixed economy.

*Okay, maybe Ralph Nader, but after he socialized the country, his party would BE the business associates.