Of course the private sector will not WANT to do it, but they can (and I believe will) be “incentived” and even forced to improve private employee pension guarantees and healthcare. This is in the interest of the political and economic stability of the Country, after all.

There are many ways available to government to do this, and many tools, not least the tax system. It could also simply take the entire problem of employee pensions and health care away from the private sector employers (who have clearly violated their trust), and simply expand and enhance MediCare and Social Security, with the cost to be borne (through payroll and other taxes) by both employers and employee contributions.

Not a dream world at all. Note the government’s “pension benefit guarantee fund”, which has had the increasing problem of addressing the private pensions that private firms have, or are attempting to, walk away from. If government (i.e. the taxpayers, generally) are going to have to take care of the private sector failures, as that sector “privatizes the gains while socializing the losses”, the government will need to make sure that those failures cannot occur.

New World I say – “think Scandanavia”.