Privatization Pep Rally

James Baird jlbaird3 at
Wed Jul 29 09:34:07 PDT 1998

>Clinton didn't open it. The Trustees did by
>issuing their actuarial report, which they are
>required to do by law periodically, and which
>report, while open to criticism, is not so biased
>as to entirely distort its findings. Given the
>biases of assorted elites, it would be impossible
>for any president not to acknowledge the issue.

If you don't think it's biased, I'm afraid you aren't reading it closely enough. Doug has done some excellent analysis of this, so I'll let him fill in the details. The basic point, though, is that in order to get their conclusion that the system is going broke, the trustees assume economic growth for the the next few decades at sub-Depression levels.

Jim Baird

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