Social Security Borrowing
"Please, sir, may I have some more?"
A New York Times article today went into detail about the Bush administration's plans to reform Social Security in the near future. The catch? To enact such a broad switch toward privatization of accounts would require borrowing between hundreds of billions to trillions of dollars.
Now, unlike most liberals, I'm not vehemently opposed to some privatization of Social Security accounts. I do not, however, think that it is a very good idea to try such a financially ambitious plan when the national debt is spiraling out of control at this very minute. I mean, we just passed a resolution to raise the limit of money we can borrow as a nation. Do we need to ask for more money and spend it like drunken sailors on a weekend at port?
I feel like a president, regardless of whether he spends one or two terms in office, should get but one major financial initiative. President Bush wanted tax cuts as well as to vastly increase defense spending.
You've had your allowance, Mr. President. No more until you do your chores. Clean up your mess, do your homework, and get this country back on some sort of plan for fiscal responsibility before you go asking for more and more money.