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Jun 03, 2005 -- 4 out of 5 people want the Feds to provide retirement

Clark realized the other day how out of touch he sometimes is with what consumers feel. Would you believe that roughly 80 percent of people think it’s the role of the federal government? That is according to a poll by the New York Times. Almost four in five people think it’s the Feds’ job to play Santa Claus, which explains why there has been so much angst over privatizing social security. About 70 percent of Americans are opposed to private accounts if it means a reduction in “guaranteed benefits.” So, people want to have their cake and eat it too. Clark doesn’t know if people have really absorbed what it all means. But if he were in charge, he’d eliminate the system as it is. The power should not reside in D.C. It should reside with the people. The fact is that if we want the Feds to provide for our retirement, taxes are going to go up a lot. And that’s the trade off. For the long term economic health of our country, we need to start taking this responsibility on ourselves.

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