The Ownership Society

It's funny in a really irritating way to watch the Republicans talk about an ownership society. For example, in David Brooks' NY Times column today, he makes several ridiculous claims about this. First, he says that Democrats oppose social security reform because an ownership society will create more Republicans. This is patently absurd. Could Democrats oppose private retirement accounts because they know a little bit about history and know what it was like for the elderly the last time the government didn't help insure a decent retirement for its citizens? Could it be because they are not blind to the magic of the market and know that stocks could collapse and everyone would lose their retirement, thus likely forcing the government to rescue these people at much greater cost than the price of social security?

Next, he claims that social security today "shackles" our kids. Um, how exactly does it do that? Does it stop people from saving for retirement if they want to? No, I don't think so. Or does he believe that the existence of a safety net creates laziness and people who rely on the government like those third world European nations?

He goes on to hope that people are encouraged to work into their 70s or 80s. Well, Dave, under privatized social security I'm sure that people of my generation will be encouraged by the fact that your ideas won't work and we won't have any social security by the time I'm 70.

Finally, he says that we need a "savings revolution." Yes, a Congressional plan to end the nation's safety net will undoubtedly have a greater influence on young people than advertisers, credit card companies, and all of those who make money on Americans buying lots of stuff. Remember, after 9/11 we were all told to keep buying to stimulate America's economy. How can we keep buying without credit that leads to debt which makes savings difficult. Does Brooks and others who call for this savings revolution not understand that the same people making these calls are the people making their money on Americans NOT saving?