Reply #9: Just the reverse.

[recidivist]

Having the money in the bank is a good thing. Kiting bad checks to our grandchildren is a bad thing.

A fully funded, investment based Social Security system is a good thing. Creating inheritable estates for lower and middle income families is a good thing. Giving people greater flexibility about when to retire and/or combining retirement with part time work is a good thing. Paying higher pensions is a good thing. Avoiding very heavy future tax increases and sharp future benefit cuts are good things.

Yes, there will be a long transition period. The full benefits of an investment based system will not be realized for those of us over 40. But reform will be great for our children and grandchildren, and we need to get started.

If private accounts are created for Social Security, 90% of the folks under 45 will participate within five years, maybe sooner. The people are going to vote with their feet. Do you really want the Democratic Party to get trampled in the stampede?