He’s Baaack

Ross Perot is back. Charts and all.

The spoiler of the 1992 election is on the web with a presentation of the national debt. He’s concerned that future budget deficits will grow out of control and that interest on the deficit will destroy our future.

Perot’s agenda is to focus on reforming Social Security and Medicare. He’s right that that’s where the money is. He thinks we need either to raise taxes or cut benefits.

Well I’ve got some news for old Ross: Bush tried that in ‘05. It didn’t work. And Republicans lost Congress in 2006, in part because actively voting Social Security recipients turned out to defeat the reformers.

Social Security is still the third rail of politics. Anyone who runs for office promising to change it is probably going to get killed.

Douglas R. Tengdin, CFA
Chief Investment Officer
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