Thursday, February 17, 2005

Ownership Society

I think the idea of pushing for an “ownership society” is one of Bush’s best, so I was glad to see this from Reuters: 'Ownership' Key Soc. Sec. Goal – Greenspan

U.S. Federal Reserve Chairman Alan Greenspan embraced President Bush's vision of an ``ownership society'' on Thursday, saying private Social Security accounts could foster feelings of wealth among poor Americans.

A bit more of what he said:

``It's crucial to our stability that people all have a stake in this system,'' he said. ``I don't perceive that Social Security is conceived that way and I think it is very important to people to have a sense of ownership.''

The last word in the article went to a detractor:

``I do have to express skepticism that telling workers losing their jobs ... 'Do not despair. Private accounts are coming' will be less a morale booster than I think you implied,'' said Rep. Barney Frank, a Massachusetts Democrat.

Frank’s condescension disgusts me.

I don’t need help from any Massachusetts politicians (or any other for that matter) in getting or keeping a job or saving for retirement, and I certainly am not relying on them for a “morale boost.”