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May 11, 2005
Social Security a "Safety Net"?
Great letter to the editor from Don Boudreaux:
Wednesday, May 4, 2005This was a letter to the editor to the New York Times.
To the Editor:
Whether Social Security is the greatest innovation since opposable thumbs or a looming disaster, it is not properly described as a “safety net” (“Introducing Private Investments into the Safety Net,” A1, Feb. 3). A safety net is a last resort – protection that people do not plan to use, or even want to use, but are content to use in the event of mishaps.
Retirement is no mishap. It’s anticipated, planned, and desirable. As currently structured and endorsed, Social Security isn't meant to catch only people who fall from life’s ordinary and expected institutional supports; it’s designed to be a critical part of these expected supports.
Describing Social Security as a “safety net” is heavy on emotional uumph and light on accuracy.
Sincerely,
Donald J. Boudreaux
Chairman, Department of Economics
George Mason University
Posted by Peter Mork at May 11, 2005 12:57 PM
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