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Fools, and Damn Fools

There are common, everyday fools, whose stupid antics are more a source of amusement than concern. And then there are great damn fools in positions of power whose stupid antics are enormously harmful.

U.S. Rep. Martin Sabo (D-MN) is one of the latter:

Congressman Sabo proposes setting the rate of interest paid to the trust fund to 4.7 percent over inflation, in response to the Congressional Budget Office's deficit projections for Social Security.

"The reality is that the Social Security trust fund is in good shape. My legislation addresses future problems without spoiling this American success story," Congressman Sabo said.

My reaction was visceral and immediate — I gasped, and almost screamed.

Raising the interest rate is satire. No real human being would do it. That would be like someone reading Frédéric Bastiat and come away thinking that outlawing windows was a really swell idea.

(h/t Social Security Choice)

Tiny Island