Monday, July 21, 2008

Take Sweden, For Example


My AEI colleague Henry Olsen href="http://online.wsj.com/article/SB121642093483266551.html">points out in
today's Wall Street Journal that the European center-left is
rediscovering markets at exactly the same time as the US Democratic party seems
to be turning its back on its successes of the 1990s. 


Many European countries are also ahead of America when it comes
to pension reform. Mr. Obama's main solution to the looming Social Security
bankruptcy is to raise taxes on the well-off. To date, he has eschewed other
solutions such as raising the retirement age or creating private Social Security
accounts. But European center-left parties have no such reservations.

Take Sweden, for example. In the 1990s, a series of center-right
and Social Democratic governments reached agreement on wide ranging pension
reforms that include a private account option not too different than the one
proposed by President George W. Bush.

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