These Washington Myths Are Breaking Us

Myths are stubborn things. This is especially true in Washington, headquarters of the political mythology industry.

For decades, taxpayers have spent billions of dollars on a farm-subsidy program that is supposed to fulfill a moral duty to save family farmers. Nevertheless, as the cash sluiced out to the fields, the number of family farms has dwindled inexorably downward.

A Star Wars-like missile-defense program survives year after year. It has not yet met performance standards most of us expect of the family sedan. The mythology that keeps it alive is more powerful than the facts.

Another Washington myth is that individuals investing on their own will enjoy a better life in retirement than their stodgy old parents, who wouldn't know a stock from a savings bond.