Morning Coffee Videocast: Why Social Security Is a Good Thing

Jul 4, 2006 at 2:37 PM
7 comments

People are lousy at making long-run financial decisions--just look at Bush Press Secretary Tony Snow. For that reason Social Security is a very good idea, and the idea of the "ownership society" is a rather bad one.

7 comments
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Brad DeLong’s rating:

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Morning Coffee
- Jul 21, 2006

Comments

I like your commentaries and agree overall on the idea SS as a safety net. What bothers me is:

1) I have no faith the government will have the funds available to keep the benefits by the time I retire

2) I rather despise the fact that young people must take on more debt (and pay interest) to get ahead while funding SS which the f*cking government is just spending this money. I'd rather invest in my "peace of mind" to get out of debt before I feel charitable to irresponsible government decisions - even extra payments on low interest student loans and mortgages seem a better investment to my sensibility.