SharksWithLasers -- Seth Cooper

A CUTTING-EDGE BLOG FOR THE WORLD OF THE 21st CENTURY, Currently operated by Seth L. Cooper, a 27 year-old attorney in Seattle (sethlcooper at comcast dot net)

Tuesday, January 25, 2005

ALEXANDER HAMILTON TO THE RESCUE. Jack Kemp has written an intriguing column today that is available at Town Hall, entitled "A Hamiltonian solution to Social Security's Bankruptcy."

Our former HUD Secretary describes an interesting potential solution to our nation's Social Security problem that is reminiscent of Alexander Hamilton's efforts to get our young republic out of its terrible war debts. Kemp cites a recent report by Lawrence Hunter of the Institute for Policy Innovation and goes on to conclude:

Refinancing the Social Security liability through new-issue federal bonds would not entail new debt; in fact, it would make it possible to pay off debt and leave Social Security financially sound in perpetuity. To paraphrase Hamilton, debt incurred to refinance Social Security would be to us a "national blessing" as we create a truly democratic, capitalistic shareholder society.


Alexander Hamilton is my favorite founding father, and it is a treat to read this column, as I am about to begin re-reading Forrest McDonald's EXCELLENT intellectual biography of Hamilton.

(Downtown Seattle, WA)

2 Comments:

  • At 9:51 PM, Blogger Peter said…

    How do you feel about the recent Hamilton bio by Ron Chernow?

     
  • At 12:46 PM, Blogger Coop said…

    Nope, I've not read Ron Chernow's new biography just yet.

    Someone reviewed in in an issue of the Claremont Review of Books from last year. I know I actually read the book review, but do not actually recall what the article's author said about it. I'll have to check it out.

    McDonald's book is more of an intellectual biography, and so I would be interested reading a more general bio of Hamilton. I'd be interested in hearing other the views of anyone who has read Chernow's new book.

     

Post a Comment

<< Home