September 10, 2011
President Obama Offers the Military a 'Risky Scheme'
When President Obama provides his roadmap for saving the economy, he needs to explain why it is bad to privatize Social Security but good to privatize military retirement, changing it from a government pension plan to a 401(k) investment program. And if this really is the key to economic solvency in the retirement system, then why not privatize Social Security as well? When things aren't broken, don't fix them. The all-volunteer military system still attracts some of our finest young people even though we have been at war for ten years. If a change to 401(k)s is a good idea, let Congress try it out first -- and then expand to other government employees who don't risk lives while living under deplorable conditions and enduring long family separations -- before implementing it on the military. President Obama should clarify who will be impacted to avoid fueling fears that the government will renege on its promises. (Ask current retirees what they were...(Read Full Article)