Warning! Political Rant!

I guess that I'm not actually going to rant so much as make a brief reference to what's going on in Washington these days.

The miserable failure is trying to convince Congress to "reform" Social Security. There's nothing that I can add to what Molly Ivins has to say about it...

The Bushies are about to launch a $50 million to $100 million propaganda campaign to convince us the Social Security system is in crisis. Actually, it's not. It's quite robust and has astonishingly low administrative costs, less than 1 percent.

According to President Bush's own Commission to "Strengthen Social Security," the administrative costs of keeping track of private accounts will be 10 to 30 times the cost of administering the current system.

The Social Security System is in no danger whatsoever of going broke or even of having to pay out less than full compensation for at least 50 years. There are any number of statistical models and premises one can argue about here, but when the administration begins with a premise that requires fixing Social Security based on an extrapolation to infinity, you know you are not dealing with people who argue in good faith.

Even if Social Security were in full-fledged crisis, none of the sensible, cheap, effective ways to fix it would involve the massive trillion-dollar boondoggle this administration contemplates.

Let's get this straight. The Republicans do not want to fix Social Security, they want to kill it. Period. They don't want to "partially privatize" Social Security, they want to end it. What they want is a private pension system like the one their pointy-headed heroes at the University of Chicago dreamed up for Chile, the poster child of why we should not do this.

This same rigid, inflexible, impractical the-market-is-always-best ideology is like a form of mania with these folks. As Paul Krugman patiently points out, "Claims that stocks will always yield high, low-risk returns are just bad economics."