Kudlow on Social Security Reform

Larry Kulow has came out in support of Bush's Social Security plan. He has some very good points, read the whole thing.

For me, the issues are simple and clear. First, Bush’s reform would create true retirement asset ownership. Beneficiaries could bequeath their money to their children. Spouses would be well taken care of if the breadwinner prematurely passes away. Young people would think differently and take more responsibility. Second, a prudent combination of stock and bond investing over 30 or more years will generate a much higher rate of return. Third, the reform plan will generate savings for private sector capital formation rather than funding government spending.

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