How well could you do if you were
given control over your own Social Security money?
Quote:
|
Larry Lindsey, Bush's tutor on economics during the campaign and later chairman of the White House's National Economic Council, devised a scheme based on creative accounting principles. Essentially, it proposed that the government would issue substantial new debt to sustain old-style benefits. This debt would be serviced and paid down by confiscating revenues from the higher returns from those opting for new-style personal accounts.
|
Only as well as the government says you can. What if you have lower returns instead of higher ones? Too bad, you chose to manage your own money.