Thank you, Mr. Adams, for bringing up the "Chilean" Plan again.
From 1984 until December 1999, I was a regional director for The Concord Coalition. The Concord Coalition is a bipartisan organization that was founded by the late Sen. Paul Tsongas (D-MA), former Sen. Warren Rudman (R-NH) and Pete Peterson (Secretary of Commerce for the Reagan Administration).
I became very informed on CATO's position regarding the privatization of Social Security. Forget the fact that CATO Institute is a reactionary organization funded by big oil and the financial houses, having them tell us about investing is like having Col. Sanders teach us how to raise chickens.
The Concord Coalition was interested in a balanced budget and a "zero" deficit and was supported by thinking Americans, Republicans, Independents and Blue Dog Democrats.
First of all, Dan, the Chilean plan required that all participants invest 17 percent of their annual income into the program. Since Americans, presently, save less than 3 percent of their annual income, this program would never get off the ground in the USA.
Then again, Dan, you equate Chile with the U.S. economy. Chile's GNP is less than that of the State of Arizona. But it would be a windfall for the brokerage houses on Wall Street, "W's" base, and would ensure their continued contributions to the GOP.
It would appear that Dan would follow "W" around 60 meetings in 60 days trying to convince young Americans that they would be better off betting on a repeat of financial history, 45 years of the Dow indeed!
But have you looked at the deficit? Sure our economy is in crisis. "W" has run this economy into the ground along with our Rep. Renzi. Perhaps Renzi missed his corporation's class in law school (the congressman believes that money placed in corporations remains "his" money) and "W" doesn't remember Silverado Savings and Loan.
The fact of the matter is that it has been poor stewardship by the president and Congress. The bottom line is that both "W" and Renzi adhere to the Republican mantra of "dismantling" our Republic and all the social programs that were placed to protect ordinary Americans. Neither Bush nor Renzi seems to be concerned with protecting our children, our elderly or our borders when they can pay back their wealthy contributors first at the expense of the working people of America.
Mark Ernest Reza, Payson