Thursday, July 14, 2005
Intermission
It would appear that primary purpose of this blog -- to provide advocacy to the dozens of members of Congress who check it hourly for updates -- has come to a rather lengthy suspension. The Boston Globe reports that Social Security overhaul will almost certainly be pushed into the 2006 session. At that point, one can imagine those congressman up for re-election being too timid to vote for any significant change.
I recognize both the good and the bad in this developmemt. On the good side, some of the proposals on the table would have had some serious consequences, like transferring risk from the Federal Government to individuals, or saddling us with massive amounts of debt. However, it is very likely that Trust Funds are going to go bankrupt in the 40's, and a relatively small set of changes today, could have significantly helped. It is disappointing that the Federal Government could not figure out how to do that.
In the meantime, your humble correspondent will endeavor to keep you appraised of the latest developments and perhaps coalesce a complete suggestion of his own.
As always, thanks for reading.
I recognize both the good and the bad in this developmemt. On the good side, some of the proposals on the table would have had some serious consequences, like transferring risk from the Federal Government to individuals, or saddling us with massive amounts of debt. However, it is very likely that Trust Funds are going to go bankrupt in the 40's, and a relatively small set of changes today, could have significantly helped. It is disappointing that the Federal Government could not figure out how to do that.
In the meantime, your humble correspondent will endeavor to keep you appraised of the latest developments and perhaps coalesce a complete suggestion of his own.
As always, thanks for reading.
