President Bill Clinton has proposed that the federal governmentreceive unprecedented power to invest more than $650 billion in the stock market over the next 15 years.
The AARP and other interests want to have the government makeprivate investments in order to increase government's control ofnational economic output. This would be the wrong approach. Itwould not help workers to get a better deal from Social Security,but it would open the door for political mismanagement andintervention in America's capital markets.