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...other grounds. For instance, despite conservative rants about the inefficiency of government programs, only one percent of the money going into Social Security is currently spent on administration fees. This figure is in comparison to the 15 to 20 percent companies in Chile are charging their clients to maintain retirement accounts in the country’s privatized system. Moreover, despite its imperfections, the current system provides something privatization cannot: reliability. Just as stock markets rocket up, they also tumble down, often for years at a time. While the current system does not leave the possibility...

Author: By The Crimson Staff, | Title: Insecure Social Security | 12/20/2004 | See Source »

Though the privatization of Social Security would be a major coup for Wall Street and the banking firms who would maintain the personal accounts, the American citizen is left with a riskier retirement outlook from a system that’s very name heralds its aversion to risk. Social Security is in need of a facelift, not a burial. Placing the system on stronger footing is necessary and can be accomplished by a gradual increase of the retirement age to 70 to reflect the reality of longer life expectancies. While private retirement accounts should have a place in any individual?...

Author: By The Crimson Staff, | Title: Insecure Social Security | 12/20/2004 | See Source »

...have boosted his chances against ex-Prime Minister Adrian Nastase, the left-wing candidate. Crowds greeted his election with cries of "Down with communism!" Basescu, a former sea captain and mayor of Bucharest, is known for a populist style and for cleaning up the capital city. He vowed to maintain a high profile despite the limited powers of his office. "I will be a strong President," he told supporters in Bucharest. "I will turn Romania into a nation of winners." Because no party emerged from parliamentary elections last month with a majority, Basescu must choose the country's new Prime...

Author: /time Magazine | Title: President Of Promises | 12/19/2004 | See Source »

...power to transform ourselves raises the question of whether we are changing from nature's creation into man's invention. So we ask athletes to maintain an authenticity that we don't want to--to be museum pieces of purity. Is that hypocritical? Yes, because the fan-athlete relationship is inherently hypocritical: fans want sports heroes to be more admirable than the rest of us. We used to worship athletes for being mightier, faster, greater than we could imagine. The day may come when we gather in stadiums--with our bought-and-paid-for brains, bodies and libidos--and cheer...

Author: /time Magazine | Title: This Is Your Nation on Steroids | 12/17/2004 | See Source »

Gullette observed that the battle to maintain Social Security poses an immediate challenge for political activists. “There is enough money in the Social Security reserve, if the Republicans honor the reserve, until 2042. That’s just a fact,” she said. “How is it that Greenspan could still be terrifying people with the thought that it’s going to end earlier? That of course makes it likelier that the republicans will be able to diminish its effectiveness for greater numbers of people...

Author: By Emer C.M. Vaughn, CONTRIBUTING WRITER | Title: Activist Gullette Decries Society's Ageism | 12/17/2004 | See Source »

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