There's an excellent explanation, over at the New York Times today, of why President Bush's Social Security reform is indeed a risky scheme. Paul Krugman, one of their most insightful columnists and an awarding winning economist, has written an excellent explanation of why retirees won't get a better return on their investment and why it won't do anything to improve the financial problems with the Social Security system. Click Krugman to see it. (The Krugman link did not work, but if you click on my title, it'll take you to the article (don't ask me why but it works) And here for an excellent article on, from the Miami Herald, on why some top economists believe that the President is overstating the crisis.
Reminder: Did anybody ever find the Weapons of Mass Destruction that threatened us with the mushroom cloud? This is an administration prone to hyperbole.