Private Accounts Probabilism from the White House's Al Hubbard: "The president has made it clear that the personal retirement accounts won't solve the problem -- they are a part of the solution The rest of the solution lies in making other changes."
Interestingly enough, Hubbard's answer was in response to a high school student, eighteen-year-old Karl Kirsch. Hubbard went on to tell Kirsh that the options for the "other changes" include raising the retirement age and switching from wage- to price-indexing, which of course would leave our man Karl with radically reduced benefits fifty or so years from now.
When another questioner asked why AARP is opposing the plan if it's so great for seniors, Hubbard quoted the phony push-poll put together by the White House's pro-phase-out astroturf group, Compass. "We've seen polls that indicate two-thirds of the members in AARP support the president's plan. For whatever reason, they've determined this is a political battle that must be won."
A TPM 'Privatize This!' T-Shirt to the first guy or gal who can get Al Hubbard wired up to a lie detector and ask him whether he thinks 2/3rds of AARP members really support the president's plan.
Forget the T-Shirt, we'll whip up a special 'Privatize This!' tuxedo. With spats ...