May 19, 2005

Media Blackout on 450 Pro-Account Economists

Cato last week pulled together 450 economists to sign a petition endorsing personal retirement accounts to pressure the Republicans to keep them in sight and the Democrats to accept reform. No major media outlets have covered this story. Surprise.

It's quite important that this sort of endorsement from a huge range of qualified experts gets some attention. Personal accounts have been ravaged in the media as irresponsible and economically disastrous for one reason or another. If only for the perception of validity, these economists play an important role.

Can anyone really say that 450 economists endorsing private accounts is not news, while the seventh story in two months about opinion polls on Social Security is valid? Of course not. This is an important part of the debate - the experts are lined up behind personal retirement accounts. Everyone needs to know that, when they oppose reform and personal accounts, they're doing so against economic good sense. These 450 economists help people realize how economically nonsensical their anti-reform positions are.

Whenever somebody attacks the personal retirement accounts as poor for economical reasons, it can really help to just link Cato's press release about the 450 economists here. This is too important a story for nobody to hear about it.

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