Is anyone listening to this?
Is he serious? “Social Security is NOT in crisis.” And the stock market diversification is “risky” because in 2006 the market went down.
Social Security is generally stipulated to be a negative return on investment of between 1 and 3 per cent. Compare that to the average 8 to 10 percent over any decade. (Even if you put your thumb on the scale, there are only 3 out 20 plus ten year periods where the return is negative or below 5%. Argh!)
And, why do we have “enforced savings”? Are people to stupid to balance their current and future needs?
Argh!
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Stossel does a much better job of skewering the economically illiterate BHO44!
http://reason.com/archives/2010/08/19/obama-demagogues-private-enter
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Senate Majority Leader Harry Reid accused Sharron Angle, who’s challenging Reid’s re-election bid in Nevada, of “raiding” the Social Security trust fund because Angle has talked about phasing out Social Security. There are two problems with that statement—as Reid must know: First, there never has been a trust fund! Your FICA tax payments were not saved or invested. Social Security transferred them to current retirees. Second, in return for IOUs, Congress raided Social Security’s budget surplus every year and spent like any other tax revenue.
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Reinke Faces Life 