Sunday, May 22, 2016

The time Monica Lewinsky saved America

NYT Magazine interview with Thomas Frank.
You mention in the book that the Clinton administration was discussing plans to partly privatize Social Security when the Monica Lewinsky scandal broke, which was news to me. Imagine putting a big piece of Social Security in the stock market in the late ’90s. You’d have millions of retirees who would have gotten hammered, because the Nasdaq collapsed. And then a couple of years later, there’s the collapse of the housing bubble, and then the financial crisis. I mean, I thank God every day for Social Security. And Franklin D. Roosevelt.
We're in for a mighty depressing future once the Clintons get a second crack at running thjngs. And that's the best case scenario now.

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