Robert Reich makes a good point on his blog...Can you imagine what would have happened if retiree's Social Security checks had been tied to the stock market during this latest recession? They would have taken a double whammy: less equity in their homes and lower Social Security checks.
This idea was all the rage when Phil Gramm was running for president in 2000. (you have to click on this article, if for anything just to check out how much the Web has changed since 1999!)
But the administrative impossibility that existed then still exists now. Social Security may still need a few tweeks here and there, but it is still the best run program in the federal government. It's keeping millions of senior citizens from starving to death as I type.
Oh, and I almost forgot to mention, guess who is advising John McCain on his economic policies? You guessed it...Phil Gramm.
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