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["Tony Spencer" <tony AT tonyspencer.com>]

 > I'm starting to think this is an agonizing process of reinventing the 
> wheel, only with lower benefits. We're approaching the point 
> where the 
> best argument for private accounts is that the US is doomed 
> to default 
> on all huge obligations (think treasury bonds), and that's kind of a 
> doomsday scenario, don't you think?
> 

Jim,
Stop just starting to think that is the scenario and accept it to be fact!
Social Security was a failed theory from day one.  When it started we has 11
people paying into the system for every one taking money out.  Now it 2 or 3
paying in for every one taking money out right?  The details will need some
working out but there is no reason that we shouldn't expect more than a 1%
return on our SS investment, not to mention the problem of massive taxation
we face if we don't do something enterprising quick.

Tony