Putting money in a safe place��our pockets: why personal retirement accounts are "an essential ingredient in any plan to fix Social Security's financial problem."
John F. CoganUnless Social Security, Medicare, and Medicaid are reformed, our economy will look a lot less like the dynamic free market we enjoy today and a lot more like the sluggish, statist economies of Europe's welfare states, with their lower living standards and chronically high unemployment....
President Bush's proposal is the only sound way to ensure that current surplus payroll taxes aren't spent but instead set aside and saved.... Failure to enact the president's plan would mean that payroll tax surpluses will be frittered away on a myriad of wasteful government programs that have been funded solely because surplus Social Security tax revenues have been available to finance them.
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