 |
|
February 10, 2012
Lisa M. Krieger: Man with defibrillator demands access to his own heart's information
David G. Savage: Why activists may not be in a hurry to have High Court rule on alternative marriage
February 9, 2012
Laura McMullen: 10 Least Expensive Public Schools for Out-of-State Students
Kimberly Palmer: How to actually enjoy -- relaxing, financially -- your vacation
February 8, 2012
Warren Richey: Why momentous Prop. 8 ruling might not satisfy gay-rights groups
Menachem Wecker: Though Controversial, LL.M.'s Can Lead to Specialized Legal Jobs
The Kosher Gourmet byDana Velden: Going to the bother of making soup? You know it better be good. This CREAM OF TOMATO SOUP certainly is! And it's a cinch to make, too (Includes techinques and serving secrets)
February 7, 2012
Frank J. Gaffney, Jr.: Caught off-guard? President's Super Bowl interview with Matt Lauer gives those who need a reason not to vote for him, a darn good one
Suzanne Bohan: Leaping lizards! Tiny reptiles advancing robot design
February 6, 2012
Jonathan Tobin: Iran Threatens Israel With Destruction, But the New York Times Doesn't Hear It
Jeffrey Fleishman: In newly democratic Egypt, tens of democracy activists jailed, to stand trial; their groups are 'threatening the stability of the homeland'
Julie Deardorff : Researchers say antioxidants may not be that effective and could do more harm than good
Mark Clayton: How did Anonymous hackers eavesdrop on FBI and Scotland Yard?
February 3, 2012
Edmund Sanders : Israeli official says Iran is creating missile that could reach East Coast of US
Victoria Kim: Immigrant-smuggling ring used black drivers to avoid racial profiling
February 2, 2012
Jim Carney: Wrong number call may have saved her life
Reza Kahlili : Ex-CIA spy in Iran's Revolutionary Guard: What Obama doesn't grasp about striking deals with Tehran
Tina Susman: For woodchuck rescuer, every day is Groundhog Day
February 1, 2012
Brian Bennett: US officials see increasing threat of domestic attack from Iran
Emily Brandon: How to Take Advantage of New 401(k) Fee Disclosures
January 31, 2012
January 30, 2012
Paul Richter and Ramin Mostaghim: Misreading Teheran's limits -- deadly and economically devastating as they may be -- is a risk administration, Europe seem willing to take
Suzanne Bohan: Warning: Nap-deprived tots missing more than sleep, study finds
Meg Handley: Banks Revamping Rewards Programs to Woo Customers
January 27, 2012
Caroline B. Glick: Obama: Of course I intend to prevent a nuclear holocaust . . . in a few months
Yochonon Donn: In liberal New York City, fervently-Orthodox Jews may soon be getting a district to call their own
Jeannine Stein: An inflated ego and thinking you're 'all that' doesn't just make others sick of you, it can make you ill
Katy Hopkins: New budget rules may affect how much money you get for college
January 26, 2012
Ed Koch: To the New York Times, calling for the murder of Jews by those capable of having their incitement taken seriously isn't news
Jeannine Stein: Mental illness struck one in five U.S. adults in 2010: Report
January 25, 2012
Richard Simon: House passes two bills endorsing the use of religious symbols at military memorials
Fred Weir: Putin: Multiethnic Russia cannot survive as a US-style 'melting pot'; must find its own way
Susan Johnston: 5 Sneaky Coupon Strategies Consumers Should Watch Out For
January 24, 2012
Carol Clark: The price of your soul: How your brain decides whether to 'sell out'
Caroline B. Glick: America lost most in 'Arab Spring'. Sadly, many voters still don't grasp the extent
Warren Richey: Drug criminal scores win in GPS ruling from conservative-leaning high court
Erika Bolstad: Black conservatives gather to talk about gaining strength
January 23, 2012
Melissa Dribben: Jewish voters to play a key role in Florida's Republican primary
Jordan Rau: In quest to grow, Catholic hospital system will announce this morning its break from church
Ali Safi: U.S. envoy gives Taliban terms for peace talks
January 19, 2012
January 18, 2012
January 17, 2012
Frank J. Gaffney Jr.: No-kidding red lines: U.S. response to an Iranian nuke may be bluster, but Israel's won't be
David G. Savage: They sued their principals after slandering them online --- now the cases are headed to the Supreme Court
David Francis: Where to Invest in 2012: With stocks expected to rebound, opportunity abounds for investors
January 13, 2012
Ben Lynfield: Israeli lawmakers move to annex Jewish Judea, one museum at a time
Alexia Elejalde-Ruiz: Thriving through touch: Gentle massage helps older people with low mobility improve in mind and body
January 12, 2012
Warren Richey: Landmark Supreme Court ruling a 'resounding win' for religious groups
Warren Richey: Supreme Court says no to new rule on eyewitness testimony
John Fauber : Statins found to raise diabetes risk in postmenopausal women
Katy Hopkins : Consider This Before You Pay for an Online Degree
The Kosher Gourmet by Joseph Erdos: This mushroom and barley soup has an intense -- almost nutty -- flavor that mixes robust with Middle East. It has creaminess without cream
January 11, 2012
Shari Roan: Millions of atrial fibrillation sufferers at risk for devastating, but preventable, stroke
Tom Hussain: Pakistan -- recipient of more than $21 billion in civilian and military aid -- speeds pursuit of Iranian pipeline, defying US
David G. Savage: High court signals it won't be loosening TV's 'indecency' rules
Stephen Ceasar: Oklahoma's Islamic law amendment can't go into effect, court rules
January 10, 2012
Reza Kahlili: From an ex-CIA spy: US must exploit new split in Iran's Revolutionary Guard
Karen Kaplan: Study: Nicotine replacement products ineffective when used in real-life situations
January 9, 2012
Michael Doyle: Put through legal hell over dream home, couple fought back hard --- all the way to Supreme Court
|
| |
Jewish World Review
Jan. 12, 2005
/ 2 Shevat, 5765
A time to praise and a time to disagree
By
Ed Koch
| 
|
|
|
|
http://www.JewishWorldReview.com |
Within the last several weeks President Bush has taken two actions with which I strongly disagree.
First, he awarded former CIA director, George Tenet the Presidential Medal of Freedom, which Tenet did not deserve. Last week, The New York Times reported that "an internal investigation by the Central Intelligence Agency has concluded that officials who served at the highest levels of the agency should be held accountable for failing to allocate adequate resources to combating terrorism before the Sept. 11 attacks, according to current and former intelligence officials." Those specifically criticized were, "George J. Tenet, the former intelligence chief, and James L. Pavitt, the former deputy director of operations." One can only conclude that it was an egregious error to have awarded Tenet the medal, and to have allowed him to resign rather than firing him.
Compare Tenet's award with the harsh fate of Admiral Husband Kimmel and General Walter Short, who commanded our military at Pearl Harbor on December 7, 1941. Even though the Pentagon had not warned either officer that war was imminent, both were hauled before Congress, publicly tongue lashed, demoted and sacked, sending a message that in a time of war, failure will not be tolerated.
The President's second serious error within the past several weeks was his announcement that he intends "to spend political capital" to privatize Social Security, allowing diversion of one-third of the Social Security tax paid by employees, so that they can open individual investment accounts.
That diversion would be financed by the U.S. government's borrowing of an estimated $2 trillion. Supporters of the President's proposal claim that stock market investments exceed the rate of return the Social Security administration now receives by investing in Treasury securities. They further argue that in no twenty-year period has the stock market suffered a net loss. The overall message trumpeted by the President is that unless drastic action is taken now, the Social Security fund will soon be unable to provide benefits to current and future Social Security beneficiaries.
Indeed, last Sunday The New York Times reported that "According to Social Security actuaries, after 2042, if no changes are made to the system, Americans will get less than three quarters of what has been promised to them."
Currently, there are 3.3 workers making Social Security contributions for each beneficiary receiving monthly payments. The ratio of workers to beneficiaries is declining, as baby boomers reach retirement age.
Permitting individuals to have separate accounts would not save Social Security. Although workers twenty or thirty years from retirement might be inclined to open private accounts and assume the attendant risks, those already receiving Social Security payments or expecting to do so shortly are not likely to open such accounts for fear of losing their expected retirement benefits. Moreover, even partial privatization will hasten the demise of Social Security, as it will require the government to borrow extensively to make up for the massive shortfall that will be created by the diversion of $2 trillion.
What should we do? The solution is not complicated, but requires courage.
One option is to advance the age of retirement from the current 65 in recognition that overall longevity has increased. The retirement age has already been raised to 67 for persons born after 1960. The second option is to reduce benefits. This is the least desirable. The third option is to increase the Social Security tax rate or apply it to more income. Currently, only the first $90,000 of any individual's income is subject to Social Security tax.
Realistically, all three options may need to be used in formulating a solution to the problem. Almost everyone agrees that those currently receiving benefits should not suffer a reduction and those within a few years of retiring at 65 should not have to wait additional years to qualify for retirement.
Public officials, the President and members of Congress have to be honest with the public and not be afraid to do what is right out of fear of not being reelected. The issue has been joined. Two ads appeared in The New York Times this past Sunday promising to fight the President's privatization plan. One was that of AARP and the other by the Concord Coalition, the co-chairs of which are former U.S. Senators Bob Kerrey, Democrat, and Warren Rudman, Republican.
Who will gain by privatization? The biggest winners will be Wall Street and the stock and bond brokers, who will ultimately earn billions in commissions. If investing in equities and bonds is really a good idea, the Social Security administration should create a means to do so, so that the entire so-called trust fund can benefit. Individuals, with their life savings hanging n the balance, should not be turned over to stock or bond brokers to be fleeced like sheep.
Every weekday JewishWorldReview.com publishes what many in in Washington and the media consider "must-reading." Sign up for the daily JWR update. It's free. Just click here.
JWR contributor Edward I. Koch, the former mayor of New York, can be heard on Bloomberg Radio (WBBR 1130 AM) every Sunday from 9-10 am . Comment by clicking here.
Archives
© 2005, Ed Koch
|
