Friday, Nov. 5, 2004 | 4:36 a.m.
WEEKEND EDITION
November 6 - 7, 2004
Looks like John Kerry was correct: George Bush has immediately launched his privatization assault upon Social Security. The intent of the Social Security income guarantee was, and still is, to keep workers from falling into abject poverty.
Aside from the pitfalls of having a majority of our population become investors in things they probably know little or nothing about, this move signals the continuation of a great economic divide in America. If we proceed down this path of universal privatization, George Bush's America will be creating far more have-nots than haves.
The issue of fiscal policy application transcends that of Social Security. Countries such as China and India have already taken over significant portions of our manufacturing base. Left unchecked, we will, like our bullet and armor shortages in Iraq, be unable to effectively design and produce our own defensive weapons. The administration's stance on immigration now favors low wage, unskilled labor, over the highly educated and highly skilled.
If not now, then soon, India and China will each have far more highly educated people than us. They will not be standing still while we spend time, energy and capital democratizing others. Why is this administration driving us toward lowered expectations rather than invoking strong, bold, innovative initiatives that preserve and expand our standard of living?
RICHARD RYCHTARIK
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