Privatization Pep Rally

Max Sawicky sawicky at
Wed Jul 29 11:35:30 PDT 1998

>Hello everyone,
>Max Sawicky writes:
>"...We have six
>months to explain to people why privatization of
>almost any variety will mean higher taxes and
>lower benefits. There will be a serious push
>next Spring to actually do the deal."
> Well the arguments for social security "reform" meaning to put
>individual accounts into the stock market really depends upon how safe
>the market looks to people? Doesn't this make the push by spring rather
>iffy for Clinton and others.

Not necessarily. Even if the market falls 1000 points the average growth over the past 20 years is good enough for the other side to exploit politically. alternatively, people could react to a market drop with an 'everyone for him/herself mentality,' which supports the idea of individual solutions rather than collective ones.

Even a crummy market might look better than a program people believe to be bankrupt. Part of the job is to explain why the program is safe.

Why didn't they do it this summer when the
>market looks so much more upward bound? What is their delay? I suppose

Cause it's an election year. They don't have time, and they don't want to take a chance on doing something people could object to.

>if the markets don't gyrate much by the spring most people might at
>least listen to the arguments about "creating" private investment
>accounts to manage by the individual, but it doesn't look to me like the
>market will be that stable this fall. So it seems to me we have a fair
>chance of making a case against the "reforms" by this spring if that is
>the timeline. Hope we can.
>Doyle Saylor

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