The U.S. economy is like a frog in a pot of boiling water and he can’t jump out to save himself. One of his legs is the oversized tax code, and the other leg is the dysfunctional Social Security system. Congress has slowly turned up the heat on the tax code and Social Security through countless incremental adjustments ever since 1913 and 1935, respectively, when these two programs were enacted.
While the president and many others have proposed solutions to strengthen Social Security long-term with optional personal retirement accounts, the Democrats in Congress have simply insisted that there is no crisis and that the frog is in no danger. To make matters worse, the liberal media writers and reporters have already started concluding to the public that optional personal retirement accounts are dead in the water.
If the public allows this self-fulfilling political prophesy to persist, then the Social Security leg of our economic infrastructure will continue to deteriorate. A one-legged frog can’t jump very far. Unless Congress acts soon the frog, our economy, will be dead in the water.
The politics of obstruction are slowly killing our economic future, while countries like China and India are closing the economic gap. Even though some of our nation’s best economic and intellectual minds have repeatedly endorsed the optional personal retirement accounts concept, the Democrats in Congress are content to do nothing. Even though the evidence is overwhelming that personal retirement accounts work, the Democrats and a few misinformed Republicans want to wait until we are forced to raise taxes and reduce benefits in order to save grandma’s Social Security check. That’s not a solution. That’s irresponsible.
No matter how much the president has talked about the facts and the evidence, the Democrats in Congress have offered no solution, and there has been no thunderous challenge from the media. If the media had been as frenzied about the Democrat’s obstructionism as they were about the “runaway bride,” the public would be better informed, rather than being confused and misled.
Herman Cain is the National Chairman of the Media Research Center’s Business & Media Institute. He is the former president and CEO of Godfather’s Pizza, Inc., and currently is CEO and president of T.H.E. New Voice, Inc., a business and leadership consulting company.
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