Social Security Deform and Private Accounts

Why does the press call the Bush proposed changes "reform." There's no argument these proposals are change, but reform carries the implication of change in a postive direction. Restructuring is maybe the best neutral word. But deform is the most accurate word.

The argument for private accounts is that investments would bring greater return than buying US Treasury bonds. That greater return could also be achieved by investing the trust fund in a diversified portfolio [which would carry greater risks] rather than just Treasury Bonds.

That strategy, just like private accounts, would reduce demand and thus raise the interest rate for treasury bonds. This in turn would raise returns for risk averse investors who buy Treasuries, and also increase the budget deficit by raising cost of debt service.

BrooklynDodger notes that increasing the deficit is a consistent Bush strategy for crippling public services.