Yesterday’s radio address by President Bush was a classic case of Peterson’s claim that our politicians are more interested in rhetoric than reason when speaking of our nation’s problems.
Here’s what Bush said about solving the Social Security problem:
“As we reform and strengthen the system we will deliver all the benefits owed to current and near retirees. We must not increase payroll taxes. And we must tap into the power of markets and compound interest by giving younger workers the option of saving some of their payroll taxes in a personal investment account, a nest egg they call their own, which the government can never take away.” (My emphasis)
The phrase, “no gain, no pain” is not in the president’s lexicon. We can have everything today if only we forget about tomorrow. I wonder how Bush runs his private finances. Of course, he’s one of the lucky ones to have been born into great wealth and power so he doesn’t have to worry about the financial future of his
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