Does the current financial situation spell doom for the insane idea of privatizing Social Security?

[smallhose156]

You've got that wrong.

Government involvement is what caused the problem. Regulation of the market is what forces lenders to give out loans as required by law, rather than as risks and collateral allow.

Bush wants to get the government out of social security to.

[mr p]

yes, but that's a shame because social security is the Ponzi scheme

[peppersham]

I never thought that was a good idea I lived thru the S&L mess.

[louie666pwu]

No, because the lunatics who want to privatize Social Security live in the State of Denial. Ask them. They'll tell you that the 'fundamentals of the economy are strong'.

[Cheek]

Not at all. Historically speaking Privatizing SSI has always given a better output. soon as teh government took it over, its a question as to wether or not there would be any left when we get there.

The market will bounce back. Government has NEVER done well with anything that they have touched. Public schools, the housing market, Gas just to name the most recent government accomplishments...

[caldude1010101]

Yep, McCain dropped the subject like a hot potato.

I guarantee you won't hear a peep from him about SS privatization from now until the election.

[Moose]

Let's hope so. This was another Bush fat cat giveaway. No normal person would cut holes in the security net.

[im_foxygirl]

Let's hope they leave Soc Sec alone. Privatize it and it's all over.
The problem is that Bush thinks Soc Sec is an account he can touch.
I like Gore's idea.....it should be in a lock box!

[Bob]

Wrong!!!!! The Social Security system is going bust. I was looking at my statement the other day. Since 1983 I have contributed over $200,000 to this program and I don't think I am going to see a dime of it when I retire.

My 401K program has 1/2 that amount in it. That is my money, why can't I invest it where I want? I want to invest it in the same program that congress has or the state public retirement service. The Ohio PERS. See their investments at

https://www.opers.org/investments/define...otal.shtml

Social Security is bankrupt. So why can't I contribute to this program? This is what I want to be in!!!!

[Chupate esa!]

As you see people see the bubble but never the burst... They will continue doing it because if I would had put all my deductions in private investment the market would have had crashed a long time ago with my retirement.