Letters to the New York Times:

In the wake of two Op-Ed's in the New York Times promoting privatization of Social Security, there were some good letters. But in a single letter published two days later, we read: (excerpts, emp add)

To the Editor:

As the father of the Chilean pension system, José Piñera ("Retiring in Chile," Op-Ed, Dec. 1) paints a seemingly attractive picture of personal retirement accounts.

[...]

Even the World Bank, a staunch proponent of private accounts, now concludes that they fail to prevent poverty in old age and that more needs to be done to strengthen the public safety net.

[...]

... rather than spend trillions of dollars we don't have on risky private accounts that weaken Social Security, we should strengthen the guaranteed benefit for all generations.

Ladan Manteghi
Dir., AARP Office of Intl. Affairs
Washington, Dec. 6, 2004

posted by Quiddity at 12/09/2004 05:13:00 PM