July 16, 2005

There’s a Reason BizzyBlog Calls Business Week “Biz Weak”

From a Biz Weak editorial in the July 25, 2005 issue (link requires subscription; bold within body is mine):

Do-It-Yourself Retirement

The burden of funding one’s later years has shifted irrevocably

Finally, workers must accept that the era of employer paternalism is over — and the demise of nanny government may not be far behind. So relying solely on Social Security, Medicare, and a company pension for retirement security is risky at best. The smarter, safer approach is to plan for a future wherein retirees work longer, pay more for medical and long-term care, and receive lower Social Security and pension payments than previous generations did. This tough new retirement reality won’t be a stroll down the beach. But if workers aren’t prepared for the worst, their retirement years may turn out to be anything but golden.

From a Biz Weak editorial in the May 16, 2005 issue (link requires subscription; bold within body is mine):

Bush’s Missed Opportunity

The Social Security debate has failed to address the larger issues

The challenge is much the same: to make voters feel protected from forces outside their control. But whether trying to curtail government-paid medical spending or partially privatize Social Security, the Bush camp repeatedly discovered that Americans still want government to provide personal security every bit as much as they want the military variety.

Earth to Biz Weak: If “the era of the nanny government may not be far behind,” then the idea many people have that “government (should) provide personal security” is foolish at best, and dangerous at worst. But you won’t directly criticize the people who still want the government safety blanket, or the politicians who want to perpetuate the illusion of its permanence. THEY are the problem, not Bush’s somehow abhorrent notion that we have to face reality and do SOMETHING.

In 10 weeks, the magazine’s editors go from defending those who like the status quo and want things left alone (never mind that it’s not sustainable) to telling everyone they’re probably on their own. When Bush goes on the offensive again for Social Security reform, you can rest assured that Biz Weak will give the “safety net” crowd a full hearing again.

One thing Biz Weak almost never worries about is consistency. Zheesh.
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Flashback: The Real Entitlement Generation

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