Larry Little in his letter admonishing Bill Carlino's editorial as partisan ("An agent of Bush?" Accounting Today, Feb. 21-March 13, 2005, page 6) leaves more than a little of his own partisan slip showing.
He adopts verbatim the talking points of those opposed to any Social Security reform by claiming that there is no problem. Growth, he says, is the solution. Coincidentally, this is the solution that would allow all Ponzi schemes, like Social Security, to run on indefinitely.
He chooses to ignore, as do all opponents of injecting knowledge into an argument, the fact that the number of recipients of Social Security benefits will double in the next 20 years. He also chooses to ignore that the situation is demographically challenged, as these recipients will, on average, live far longer than originally envisioned by the system's constructors. He ignores the fact that change will occur on either a controlled or an uncontrolled basis. His choice is uncontrolled.
Ironically, the growth that he is relying upon finds its greatest opponent in the thinking of both he and his fellow Chicken Littles, as they try to preserve untouched the untenable.
Timothy P. Evans, CPA/PFS
Letters may be sent to: Editor, Accounting Today, 1 State Street Plaza, New York, N.Y. 10004, or by e-mail to AcToday@sourcemedia.com. Accounting Today reserves the right to edit all submissions.
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