Ted Rall for December 16, 2004

Transcript:

Perhaps the history of social security runs counter to arguments for privatization. (Man: I lost everything in the crash of '29. For created social security to protect people like me.) Maybe you have some unique reason to distrust the stock market. (Man: My 401(k) got wiped out by the dot-com meltdown. At least I still have social security.) You may fear that you're not smart enough to manage a personal retirement plan. (Man: Common stock or preferred stock? What do I know?) (Man 2: Go long on the October calls and short on the puts!) But we must do something! Social Security is about to go broke! In 1978, while running for Congress, Bush said social security would go bankrupt in 10 years without privatization. (Bush: That was just a pre-emptive strike.)