A weblog on Alaska politics, and other musings, ramblings, and vagaries.

Tuesday, February 22, 2005

Nipping at my brain ...

I had the unique displeasure of tuning in to KUDO ("a voice for change"), and, instead of being soothed by angry progressives, hearing the nonsensical faux-folksy ramblings of Jack Frost, former mayoral candidate and ubiquitous pitchman.

Of what possible use can it be to disseminate the insipid and asinine cliches that a man like Frost uses as a substitute for thought? And on the issue of social security no less .... Example: Frost is pitching Bush's "crisis" meme, and tosses out the startling notion that the social security "trust fund" is being plundered by those dastardly Big Gummint types (still insidiously controlling things despite being out of power for the last 5 years), and when it comes time to start using the "trust fund" to pay benefits, we'll find that "there's just a bunch of IOUs in the vault!"

Egad! Stock up the root cellar and bury your gold!

In reality, the government has been spending social security funds indirectly, because those funds have been invested in government securities (T-bills, that is). Treasury bills are, of course, the most conservative and secure investment into which these funds could have been put - a judgment revisited and reaffirmed by every Federal Reserve Board since Eisenhower. This investment is backed by the full faith and credit of the US government, which is constitutionally bound to honor it. If T-Bills become risky, our problems are a lot deeper than social security.

In short, Frost is either an idiot who doesn't understand the way the system works, or he is deliberately misleading people into a false sense of alarm. Either way, he is not to be listened to ...

Which raises the question - why is he on the air?

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