Thursday, September 22, 2011
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1 comment:
During the 2008 campaign, Obama said that Bush-style Social Security reform would gamble the retirement plans of millions of Americans on the stock market.
In reality, the Bush proposal didn't involve government gambling taxpayer money. It gave younger workers the option of investing a portion of their payroll taxes in personal accounts, choosing among investment funds rather than random stocks.
But looking beyond Obama's distortions, his comments have fresh meaning in the wake of the Solyndra scandal and provide insight into what he and his fellow liberals consider appropriate risk.
Obama thinks it's OK for government to risk taxpayer money on business ventures like SOLYNDRA that he deems worthy of investment. But he's outraged at the suggestion that younger Americans be allowed to have more control over the allocation of their own tax dollars in generating their Social Security retirement funds.
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