Tuesday, October 07, 2008

$2Tr lost from retirement accounts

For some strange reason, with 401(k)s down 20% (that's $2,000,000,000,000!), we're not hearing a whole lot from the GOP these days about how great it would be if we privatized Social Security, so that everyone could have their entire retirement riding on the stock market.

Just think how much more effed we'd be if the Wingers had gotten even more of their way.

P.S. We all owe Josh Marshall a debt of gratitude for leading the derailment of Bush's SS-privatization scheme. The story of how Josh harnassed his distributed readership to force each Congressman to commit on a dime for or against Bush's sceme wrested the political initiative away from the President in a way that I believe is without precedent. And as far as I know, that story's never been fully told anyway.

No comments: