Bakley's Blog

Words from my life South of the Border in Mexico City for friends and family. I intend to post artcles and other things that are funny or interesting. I am a huge soccer fan, like to cook and am currently consumed by politics. I work in finance and am busy trying to get my Spanish to the next level. Hope you enjoy.

Monday, January 17, 2005

Social Security

Okay so i have been trying to gather info on this important topic for a few days now and really like the NYTimes article from the weekend. The takeaways are these:

-This is another case of Bush and Team's scare tactics (think of a Domestic WMD) to get us to do something that is harmful to ourselves.

-Since the beginning, the Social Security Program has been well thought out and not mismanaged like the neocons would have us believe. For example the actuaries on FDR's committe in 1934 predicted that the retiree proportion of the population would be 12.65% in 1990. They were wrong but conservatively. The actual number was 12.49%.

-Look at the UK and their Privatization of National Insurance. Costs are high (fees to brokers) and the system truly is bordering on crisis. Many pundits in the UK are now calling for a revamp of the system. Their model: The New Deal Social Security System.

So I urge everyone to do something. We New Yorkers have two important people in the fight against thes scare tactics.

Hon. Charles Schumer is on the Senate Finance Committee
Hon. Charles Rangel is on the House Ways and Means Committee

Anything Social Security will have to pass through these committees first. Contact them as I have and let them know what you think. Protect our benefits and those of our fellow citizens.




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There Is No Crisis: Protecting the Integrity of Social Security