Social Security deserves calm debate.

This article reports that social security reform will be a primary objective of the new administration of George W. Bush, with private accounts for younger workers being a key part of it. Already, a great deal of heat is being generated by a debate that has barely begun. Given that more than 70 years have passed since the New Deal, and that the world has changed dramatically during that period, one might think that it is time to sec if a program designed so long ago might not need some tinkering to adapt to modern realities. Most, even after the 2001-2002 bear market, still have unrealistic long-term stock market return expectations.