401(k) Foe Teresa Ghilarducci, the Most Dangerous Woman in America

What planet is she on?

This is the result of surrounding oneself with liberal academics for 20 years instead of getting out into the real world and working hard: you end up thinking that government is the solution to every hardship, when in fact the very organization that you propose to run your new government-guaranteed account is the same one that will most likely have to reneg on its guarantee to retirees in the next 20 years because it is run so poorly.

Teresa needs to get out of academia for a few years to get a glimpse of what ordinary Americans are facing. Maybe then she'll realize that it's not just the rich moving moving from taxable accounts to their 401(k)s - it's Average Joe saving whatever his employer matches in his 401(k) in order to have some sort of funding for his retirement, because Social Security sure as heck won't exist in its current form when he retires in 2035, and neither will "GSAs".

How about we ask Teresa to start "spreading the wealth" by giving up 10% of her fat, tenured paycheck to support my drug-dealing neighbor who doesn't want to work and has 5 little kids at home?

RBS of NH @ Oct 29, 2008 15:26:06 PM