The outlook for Social Security

last updated: July 31, 2008 04:00:44 AM

In 2004, President George Bush announced a goal of privatizing Social Security. Candidate John McCain agrees.

To further the goal, Bush's administration commenced a disinformation campaign to convince the public that Social Security will soon go bankrupt. Presently, the system expects to take in more money annually than it pays out through 2017, has more than $2 trillion in interest bearing Treasury CD's on deposit, and is fully solvent through at least 2042. In addition, baby boomers are working longer than previously predicted.

The other tactic to ruin Social Security is putting crony hacks in charge of the agency and degrading service with deep staffing cuts. By reducing staff, service will deteriorate until the public wants to privatize. The agency will seem incompetent and in need of private management.

After privatizing Social Security, your money will be invested in the stock market. Bush's and McCain's cronies will raid the trust funds. Remember McCain's friends running crooked savings and loans in the 1980s? Remember the big losses of Enron stockholders due to dishonest accounting and incompetent management? Remember pension raiders?

With your vote, protect the integrity of Social Security.

BRUCE R FROHMAN

Modesto

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