Public not buying private accounts |

Public not buying private accounts

By all indications, Americans do not agree with Bush on the privatization of Social Security. Nearly 65 percent disagree. That, my friends, is a mandate. The numbers have gone south for Bush since he began the 60-day tour, the message from the American public is not getting through and the road show continues. Do you wonder why?

Part of the controlled talking points; the need for an “ownership society.” Bush believes that private accounts created by removing 30 percent of the Social Security revenue is the answer. Madness! Apparently, the president is not aware that nearly $3 trillion of assets already exist in Individual Retirement Accounts in the United States. Nearly 41 percent of American households own IRAs. That is the “ownership society” at work.

We are all waiting for solutions, or at least suggestions, that provide solvency for Social Security. Unfortunately, we have only been feed the folly of private accounts. Private accounts do not assure solvency and only exacerbate the problem. Even Bush admitted private accounts don’t help solvency. Isn’t it time to stop the hyperbole and hear something honest and constructive from Washington? Wake up America and be vigilant.

Jim Groom

Grass Valley

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