Derb’s Personal Account Worries
John is worried about having too much choice, or too little. Relax: You won’t have to participate in the accounts at all if you don’t want to. (It is possible that you will face some benefit cuts either way.) For those who do choose to participate, portfolio management need not be especially daunting: Millions of people have been able to make the same sorts of choices with their 401(k)s. Whether we trust Bush seems irrelevant. There is going to be a bill for Congress to vote up or down on. If you’re a Bushophobe, you could say that perhaps the Iraq war authorization bill would have deserved passage under another president–but this one can’t be trusted to execute responsibly the powers the bill gives him. But that argument doesn’t seem to apply to SocSec reform, Medicare, or NCLB. The major reasons for not doing any of these things would be contained in the bills themselves, which are either good or bad ideas regardless of who would be charged with implementing them.