Social Security Smoke Cloud

So, I've been bedridden the last couple of days and didn't watch the State of the Union [transcript]. But I did catch Sen. Bill Frist deftly hit Larry King's softballs with tenuous talking points. What doesn't appear in the transcript is a little comment Frist made to Larry: "Heh heh, now Larry, you and I won't have to worry about this." But here's the rest of the exchange:

KING: How will you respond to the risk of having young people invest in stocks with regard to their future when that's so fluctuating? (That, and how it will actually cost at least $700 billion for private accounts today before even addressing the 27% shortfall in 2042. -Ed.)

FRIST: Yes, Larry, I think it was very interesting tonight. The president, in essence, said, anybody born before 1950, nothing's going to change for you. What I -- who I'm speaking to, said the president, are people after the birth date of 1950. That is, young people, people who, for the most part, believe two to one in UFOs more than Social Security.

A-say whut? It sounds like their plan to sell this pile of B.S. to the American public is essentially this: If you're old (i.e. rightfully sensitive to this issue, and have lots of political clout) - hey! You're free and clear! Don't worry about it grandpa, it's not your problem. It's the kids' problem. And they're all dumbshits. We can do whatever we want with their retirement and they won't say a damn thing.

We're not going to let them cram this through without a fight. Diverting payroll taxes to market-based accounts is the most volatile, most expensive, and least effective of the many possible solutions to keep Social Security solvent in the long term.

Christian Science Monitor: Onwership Society vs. New Deal

Straight Talk on Social Security

Atrios: Benefit Offset "Zero sum game."

A majority, 56 percent, said they approve of his plan to create personal accounts paid for with Social Security taxes, but the number dropped sharply when the possibility that it might reduce benefits was mentioned.