Wednesday, February 23, 2005

Michael: Private Accounts were Law Student's Wild Hair

Bush's Private-Account concept grew from obscure roots. 25 years ago Peter Ferrara was a law student at Harvard and wrote a paper outlining a scheme to trasform Social Security into a private investment institution. The idea was scooped up by a the man who started the Libertarian-leaning Cato Institute, which developed and championed the idea over the years.

So now what began as hair-brained idea cranked out by a law student is set to become the definitive political battle of Bush's second term. And its looking more and more like Waterloo for our dear Emperor... er, President.

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