I sure am glad that the George W. Bush initiative supported by John McCain to privatize Social Security was never adopted. Wonder why? Just click and read the following:
Retirement accounts have lost $2 trillion - so far
Social Security debate (United States)
John McCain Revealed > Retirement Security
I think those three references say it all!
3 comments:
These words say it all;
Volatile
Casualties
Battered
Meltdown
Where is the security in Social Security?
Well then I guess the younger people who would have chosen to enter the optional program would be looking at some paper losses today. But since they probably werent retiring this fall, it wouldnt have been a big deal.
Roland,
I can't help but ask myself though, it government could manage to stay out of retirement, mortgages, and maybe just banking in general; would the losses have occurred.
The losses are horrible to contemplate, as I am closer to the end of my career than the beginning (perhaps closer than I would like). I do wish however that a government that was created by the Constitution would go back and look at what their responsibilities and limits are under it.
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