Glenn Reynolds writes:
A MAJORITY OF AMERICANS SUPPORT SOCIAL SECURITY REFORM, according to a new poll. Two caveats: (1) it’s from Zogby; and (2) I suspect that most people’s feelings on this are fairly provisional at the moment. Nonetheless, it suggests that Bush’s proposals aren’t as unpopular as some have been saying.
If we can begin the privatization process of Social Security, it will take off in a few years once people realize that they have real accounts with real money being saved in them. The idea that the federal government can’t reallocate your benefits as you near retirement will be very appealing.
If privatization is started, it will snowball to full privatization. 50 years from now people will look back on that quaint pay-as-you-go system, that paid those lousy returns and racked up trillions in debt, and wonder what all the fuss was about in trying to defend it.