Privatize Soc Sec? Let McCain gamble with his own money.

[thesquanderer]

The current mayhem in the financial markets only serves to prove how risky McCain's attempts to privatize social security would be. Let McCain gamble with his own money, not ours.

Here's a link to information about his positions that would cut SS by shifting to privatization:

http://www.aflcio.org/issues/politics/mccain_retirement.cfm

[mscuedawg]

1. Thanks for that...its amazing the people that...

DO NOT know/understand what "privatizing SS" means!!! It sealed the deal for my mom...after I had to explain it to her!! ;)

[Youphemism]

2. I hope Obama is ready with this observation at the debate. /nt

[thesquanderer]

3. Thanks...

Yeah... I think it would be a good debate point. In fact that's what I was thinking when I posted... I figure his campaign must have a couple of people who scan boards like DU for ideas! This one seems pretty obvious, but I was surprised that I hadn't read anything like it anywhere.

[Youphemism]

4. I posted a suggestion to imagine how things would be now if SS were privatized before the meltdown..

It was awhile back. But imagine if, in addition to losing all that 401k money, even social security money was lost.

Every Senior Citizens Discount Day at the drugstores there would be a run on dog food.

[thesquanderer]

5. Yes

Tying social security to the fortunes of the market is a bad idea. It's fine for people to take risks if they want, but it is not fine for the government to essentially impose risk even on those who are risk-averse.

It's another way to tie McCain to Bush, too. Proponents talked about how much better the market had done than social security. But as they say, "past performance is no guarantee of future results." And now we see the proof.