Wednesday, December 28, 2005

Update to top stories

Sorry, I should have remembered that the entitlement programs running out of control are the top story of the past 100 years. I think the time will come when Americans will curse FDR as much as they praise him now. He purposely set upt the Social Security system to be a universal benefit so that it would be politically impossible to do away with it. That feature basically guaranteed that it could never be adjusted either, except by raising payroll taxes, which is the Democrats' only proposal for fixing this mess. They apparently have written off younger workers who will get stuck holding an empty bag.

Private memo to Harry Reid, my fellow Mormon: President Heber J. Grant, the prophet at the time Social Security was enacted, warned against it. He called it a dole, and he was right, although FDR insisted that it be structured to give the impression that it was a savings plan rather than a pay-as-you-go system, which it is. The difference is that a lot of people paid payroll taxes thinking they were building personal accounts, when they were just supporting the retirees who were drawing
Social Security. We were warned by the spokesman of the Lord. Of course, being a senator, you won't have to worry about your retirement, will you?

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